FYI | Mar 09 2012
Rudi Filapek-Vandyck, Editor FNArena
I joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently. Twitter allows me to follow news and commentary sources such as Dow Jones' Marketwatch, Bloomberg News and the Wall Street Journal. It assists me in keeping up with what is happening across the globe, while I am observing and analysing financial markets myself.
While I am on Twitter, reading a quote here and a news flash there, I offer my own succinct insights and commentary. Those amongst you who have already discovered the virtues of a Twitter account can add my Tweets to their daily news via @filapek.
For those who have no intention to join Twitter, but would like to stay up to date, below are my Tweets from the week past:
– BA-ML maintains: QE3 from US Fed is likely early in the second half of 2012, once Operation Twist concludes and growth slows "materially".
– Mining services providers in Oz remain "undervalued", concludes UBS. Mining capex shows no sign of slowing down, NWH and AAX top picks
– Concludes CS: Oz share market is "fairly valued" (not "cheap"). Remains Overweight defensives and USD exposures, Underweight Resources
– Macquarie's strategy update: "Dividend yields likely to be a higher, more consistent share of returns" – I could not have worded it better
– GS strategists agree overall mining industry dynamics make growth/outperformance challenging with production volumes and cost levels key
– Yesterday I wrote BHP, RIO are NOT great Buys at current share price levels. Today, GS agrees and reduces and removes both from model portf
– Macquarie has just turned very negative on Oz miners, BHP in particular. Sector EPS growth projected (-5%) in FY12, (-20%)-plus for BHP (!!)
– Anyone who wishes to actually be informed on China instead of rehashing Chinese headlines, must read this report http://scr.bi/wZUXT7
– Note gold sank below the 200MA overnight. Chartists say buying support is located around US$1570/oz, more downside risk thus
– Oz Stockbrokers today: downgrades for Ausenco, Bank of QLD, Dulux, Gloucester Coal, Kagara Zinc; upgrades for NAB and Incitec Pivot
– Under the radar: Greek banks have only written down Greek gov bonds by 15-20%; more write-downs implies extra funds requirements…
– On Monday I warned FNA subscribers to step aside. Market has been down every day since. Today will see a lot of weakness – no miners please
– Commentators continue underestimating the RBA's mindset – no change to cash rate, as expected (no change anytime soon remains the mantra)
– I think general commentary is wrong. Markets are disappointed due to lack of further stimulus prospects from China, not because of the 7.5%
– DJIA 13K was crossed 72 times last week. So far this week – 0
– Oz Stockbrokers today: Downgrades for Adelaide Brighton and Virgin Australia, upgrade for Retail Food Group, RBS closes Trading Buy Asciano
You can add my regular Tweets on Twitter via @filapek
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