Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Monday, 27 April 2015

Limit up

6000 here we come...

I've well and truly count of how many times Aussie stocks have flirted with the 6000 barrier in recent weeks.

Stock markets rose again on Monday to a 7 year high (again), recording a nifty 0.8 per cent gain.

The market is now clearly threatening 6000 (again) with the ASX 200 closing at 5982.7.

Today's market was partly driven higher by the rebound in the iron ore price, as well as merger action.

This should help to drive aggregate household wealth to new record highs in Q2 2015.

"Limit up"

Fortescue Metals Group (FMG) closed up by a rip-roaring 16.2 per cent at $2.57 on Monday, having lately rebounded from an utterly desperate 12 month of low of $1.75.

And there could be more to come for FMG as the week rolls on.

Futures markets in iron ore hit "limit up" on Monday, with contracts trading on China's Dalian Commodity Exchange once again soaring 5.21 per cent higher to 434 yuan/tonne.

We can therefore expect to see a spot price of closer to US$60/tonne on Tuesday 

This follows on from a 5.5 per cent jump in iron ore spot prices over the weekend.

The positive market action comes hard upon BHP Billiton's announcement that it would delay reconstruction work at Port Hedland, in turn impacting output targets.

Based on this latest news, there is every chance that the Aussie stock market could breach 6000 tomorrow.



What could possibly go wrong this time...?