Buying the Dip on ASX
- Thread starter frugal.rock
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In usual form, beating the market, but ho hum, wrong direction.
Time to don the frogman suit?
Time to don the frogman suit?
Dona Ferentes
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So things went the other way last week. The usual conniptions, but at least the market only 'fell' and all was not 'lost'.
Um. What will tomorrow bring?
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"Bank of America clients are buying the dip in stocks, new data shows"
Bank of America clients are buying the dip in stocks, new data shows By Investing.com
Bank of America clients are buying the dip in stocks, new data shows
au.investing.com
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better them than me , not enough dip yet for my taste ( except in tiny little nooks and crannies )"Bank of America clients are buying the dip in stocks, new data shows"
Bank of America clients are buying the dip in stocks, new data shows By Investing.com
Bank of America clients are buying the dip in stocks, new data showsau.investing.com
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Same, taking the opportunity to sell some stuff and hanging out for a real dip
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did my selling in April/May to invest in an opportunity outside the share-marketSame, taking the opportunity to sell some stuff and hanging out for a real dip
and still slowly building up the cash reserves again although after the ASW take-over completes ( if it does ) the war-chest will look OK
Sectors to Watch: The Bounce Continues
The ASX is set for another positive open after a strong lead from Wall Street. A few sectors to watch include:- Iron ore and miners: "China is considering raising its budget deficit for 2023 as the government prepares to unleash a new round of stimulus to help the economy meet the official growth target, according to people familiar with the matter," Bloomberg reports. BHP and Rio Tinto ADRs rose 1.5% and 2.0% respectively overnight while the Global X Copper Miners ETF finished 1.87% higher.
- Solar: Not so much to do with our market (or rather there aren't really any ASX-listed solar plays) but still interesting to note that the Invesco Solar ETF rallied 5.67% overnight on the highest volume since September 2022. The ETF is down around 30% year-to-date.
ResMed: Obesity Drugs
ResMed (ASX: RMD) shares are around down around 30% since August amid growing concerns about how obesity drugs may disrupt the sleep apnea market.The latest note from Jarden notes that "following our discussions with key US sleep stakeholders, there is currently no sign of the impact of GLP-1 drugs on sleep lab referrals, diagnosis rates, CPAP setups and mask replacement." But there is an expectation that "there will be an impact due to the staggering increase in awareness and demand for these drugs and the role of weight loss in reducing OSA severity."
The broker cut its share price target by 16% to $30.33 but retained an Overweight rating.
Resmed 12-month price chart (Source: Market Index)
There's an expectation that weight loss drugs like Ozempic will pose a threat to several industries spanning from fast food restaurants to cigarette makers. Walmart's CEO John Furner said its already seeing an impact of the drugs on food demand, stating "we definitely do see a slight change compared to the total population, we do see a slight pullback in overall basket."
Dona Ferentes
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a little bit of cash is always handy.
Dona Ferentes
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i thought you were amphibian
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I do not have much skin in the game loli thought you were amphibian
Dona Ferentes
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deteriorating global security situation notwithstanding, the ASX has had a good 5 day run. Today it may be out of puff, futures are looking flat.
(future's looking flat, too)
US Sectors
Thu 12 Oct 23, 8:40am (AEDT)| Sector | Chg % |
|---|---|
| Real Estate | +2.01% |
| Utilities | +1.63% |
| Communication Services | +1.07% |
| Information Technology | +1.01% |
| Industrials | +0.62% |
| Consumer Discretionary | +0.48% |
| Sector | Chg % |
|---|---|
| Materials | +0.23% |
| Financials | +0.11% |
| Health Care | -0.43% |
| Consumer Staples | -0.64% |
| Energy | -1.35% |
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I only recently found out that frogs actually shed their skins and then eat it.
Good recyclers and I guess it's why I've never seen a shedded frog skin.
For trading purposes, a general rule.....follow the sectors, but bear in mind which sector had a head start yesterday too, so may not follow on today. Picking individual stocks within a green sector can work out, Dona, but not always, so be selective. I know you are different to how I operate.....good luck.
The watchlist.....which stocks have transacted this morning? Go to course of sales and there will be a reference to what is what.....https://www.asxonline.com/content/dam/asxonline/public/documents/asx-trade-refresh-manuals/asx-trade-markets-instrument-groups-and-trade-condition-codes.pdf
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Gotta love a Friday like that.
Can count on one hand the number of times intraday portfolio has gone over 10%.
Can count on one hand the number of times intraday portfolio has gone over 10%.