Bitcoin questions you were afraid to ask | Michael Gable pinpoints stocks the charts say “buy me!”

Bitcoin questions you were afraid to ask | Michael Gable pinpoints stocks the charts say “buy me!”

[Music]
hello and welcome to Switzer investing
TV I’m Peter Switzer thanks for joining
me on tonight’s program we’re going to
look at all the questions you ever
wanted to ask about Bitcoin but was
always too afraid to actually wait to
find out those answers I’m talking to a
guy by the name of Adrien presne pretty
difficult name probably mispronounced it
but he comes from a company called
independent Reserve which is a Bitcoin
exchange and it comes at a time when
Bitcoin is going to be hubbed what does
that mean and what are all the questions
that need to be asked and answered on
bitcoin and then Mike Gable is looking
at a number of very interesting stocks
some that both Mike and I didn’t know
but the charts are saying GE this
company is heading in the right
direction we be looking at some really
well-known companies like foros skew uh
and Sonic Healthcare but we’re also
looking at the indexes as well to see
whether this pullback or correction is
really something you should be afraid of
or not so that’s the show let’s kick off
now with this very interesting uh
interview around Bitcoin well joining me
now is Adrian shik from independent
Reserve at a time when Bitcoin is going
to be half now people out there don’t
understand Bitcoin anyway but now it’s
going to be HED it just adds another
interesting curveball to something that
is really popular with a small group of
people who of late have been very very
keen to buy Bitcoin Adrian thanks for
joining us it’s my pleasure Peter okay
apologies to you uh we’ve talked about
it before Switzer sometimes gets
mispronounced and I become Switzer but
your name is a little bit on the tricky
side so you’re going to be ad to me for
the rest of this interview no
all okay tell us just quickly about
independent Reserve so independent
Reserve is a cryptocurrency exchange
that uh we created here in Australia
about 11 uh just over 11 years ago
actually and we’ve now grown into one of
the largest crypto exchanges in
Australia and also in APAC okay how did
the company you know cope with the
challenges with the American uh Bitcoin
exchanges was it a tough time for you I
mean um I should be referring to I guess
what’s happened in the event of maybe
the last two years or so when you know
we had um a few issues overseas with uh
the um um insolvencies of FDX and a few
others um obviously there was a very bad
time for cryptocurrency exchanges around
the world it was very was a very bad
time for the cryptocurrency market um
look I I think it really underlined the
need for regulation in this market and
it’s you know it’s it’s one of the
things that we’ve been really pushing
for for a long time now and we hope that
uh the Australian government will choose
to regulate cryptocurrency exchanges in
the next one or two years um but I mean
yeah obviously it was a very hard time
but I think we’re through that now and
now crypto is on a bit of a run again
and you know we’re looking forward to
the to a very good one or two years
ahead why won’t governments why won’t
the federal government get involved in
regulation that’s a great question and I
guess you know it it would be um a
question that would be interesting to
ask the Australian government or maybe
to Asic but you know in in our view um a
cryptocurrency
exchange um holds people’s money you
know at independent Reserve we hold over
$1 billion do of assets on behalf of our
users uh which is obviously a huge
responsibility and we deal with a lot of
transactions we deal with a lot of
customers but right now there are no
rules set by the Australian government
or um a regulator that really government
you know how how these assets are held
what we do how how you know whether
we’re audited or not how the governments
um um has to to actually work which
which means that um a lot of crypto
exchanges just kind of operate in the
best way that they know how which you
know uh we’ve been quite lucky here in
Australia that we haven’t had any real
issues but that hasn’t been the case
around the world but you know there are
other jurisdictions around the world
that are quite well regulated there’s
regulation in Singapore there’s
regulation in Hong Kong there’s
regulation in Europe but unfortunately
the Australian government has been a
little uh you know a little bit behind
the curve um and we’ve had regulation
from ustra here in Australia which
regulates the industry from an AML kyc
point of view which basically requires
us to rep suspicious transactions
identify our customers make sure that
you know there’s um that that or that I
guess that when um the actual money
moves through our exchange it moves in a
clean way but unfortunately there hasn’t
been the regulation on the market side
yet and we’re looking to treasury into
Asic to hopefully enforce that in the
next one or two years and you know
hopefully it won’t
require a big mishap to happen here in
Australia to really push that regulation
forward yeah how many customers do you
have at this point in time right now uh
we’ve got about 350,000 at independent
Reserve so so so cryptocurrency is
pretty popular out there yeah it is so
we do a survey uh once a year of um
basically um a sample of the Australian
population and we ask them questions
about their views on cryptocurrency
whether they’ve invested in crypto and
you you know it’s basically a finger on
the pulse of the cryptocurrency um
industry here in Australia and uh every
year we find that more people are aware
of crypto more people invest in crypto
and now one um in Forest rans has either
invested in crypto in the past or is
investing in crypto at the moment so
it’s it’s quite a you know widely
invested in asset class right now it’s
very popular especially among the
younger um you know um you know the
average age of of of our investors
probably under 30 right now but it’s
beginning to permeate older investors as
well and the longer crypto is around as
an asset class the more people become
more comfortable with it and more they
treat it as you know just another thing
to hold in a portfolio to diversify that
portfolio what were other apart from
Bitcoin what what are the most popular
cryptocurrencies I mean there are
thousands of other cryptocurrencies but
you know a few other ones that are quite
large and popular um uh for example
ethereum you know that that was really
the number two currency now for a long
time and it presents a different
investment thesis to bitcoin whereas a
lot of people view Bitcoin as a digital
gold as a as a way to hedge against
inflation and L monetary policy ethereum
is more of a platform like a global
computer where people can actually build
other things on top of it and the demand
for ethereum is kind of driven by
different characteristics to the demand
for Bitcoin but I mean there are now
thousands of cryptocurrencies and you
know a lot of them have very large
market caps in the tens hundreds of
billions of
dollars but because there’s so many you
being an expert do you worry that some
really shouldn’t be touched because
there’s just too many question marks not
enough
regulation well I mean interestingly you
know
one of the great things about the crypto
industry is I guess that the barriers to
entry really aren’t there so if
someone’s got a great idea they can
create it and it’s quite easy to create
a new currency but obviously as you said
not all cryptocurrencies are Crea equal
um so you know the hus is really on the
investor to do their own research to
remember that they’re investing into um
a space where maybe the protections
aren’t quite there that would expect in
other assets that maybe they they’re
more used to investing in in the past so
really education’s the name of the game
and you know we always encourage our
customers to educate themselves about
the investment that they’re making which
which holds true for any other
investment as well really okay well I I
I never do Bitcoin for one reason I
probably discussed with this with you in
the past is that you know it’s just
there too many question marks for me and
as someone who you know gives education
and advice to to people if there too
many question marks it just becomes too
hard for me to be associated with it um
but I I guess um I understand Bitcoin
there’s just a limited number and
there’s a uh a group of people who
really love Bitcoin so I I always figure
that Bitcoin will always do well because
of that you know it’s F first starter
Advantage it’s limited and all those
sorts of things and people people in the
you know either in the it area or in the
the Dark World of gambling and whatever
Bitcoin could be popular uh just seems
to me um with the other cryptocurrencies
it all doesn’t it rest on the fact that
there are a sufficient number of people
who believe in that particular
cryptocurrency for it to actually either
do well or even
survive I look I mean I think if you
look outside of the top 10 or 20
cryptocurrencies yes that may be the
case but if you look through the top 10
you know they’ve all got pretty well
established use cases now and and
they’re actually being used by people
around the world to accomplish various
things that they need to accomplish so I
I think there’s now an intrinsic demand
for uh the utility that a lot of these
coins do do actually um are able to
provide you know it’s it’s I guess it’s
hard to put a value on a decentralized
Computing system that cannot be
controlled by any one entity there’s no
entity like Amazon AWS that can you know
take your service down if they don’t
like what you’re doing or that can start
charging you more for the service or
whatever else it’s it’s really a
different Paradigm in thinking about
Computing and a lot of people are
creating these decentralized
applications that run on ethereum that
you know can do things that you really
wouldn’t be able to do in any other way
um so
I I think the longer this continues the
more utility will be created and more
real world use cases will exist as well
can you give us an example of where a
particular business or an industry would
say yeah we want to do this and we’re
going to use ethereum so sure can you
give us an example of that well look I
think a widely used example over the
last three or four years was lending on
defi right so there’s I guess a lot of
people out there who
can’t get access to a traditional loan
maybe a bank won’t lend their money for
whatever reason but on defi it’s
decentralized Finance uh there are you
know anyone can participate there is no
one there’s no there isn’t a gatekeeper
like the banks here in Australia that
can choose you know who gets banking who
does not um there’s no one who can
debank you
um so you know a lot of people have you
know taken out loans
on Def which runs on ethereum mostly and
then done things with the money that
that that they were able to get because
of that they invested in their
businesses they basically participated
in the economy yeah so you’re saying a
startup business can’t get a loan from A
bank goes to defi gets X number of um
ethereum uh are they ethereum dollars or
what do we call them ethereum Curr a lot
of the works on usdc which is a currency
Peg to the US dollar so you know all
these problems of you know crypto has a
lot of you know moves up and down the
volatilities there a lot of these have
been solved by various tools in the
ecosystem so you know usdc usdt Peg to
the US dollar they’re you know two of
the most widely used cryptocurrencies
right now okay so so they get they get
this money from Defi and they say for
example want to buy computers and they
find a a business that’s prepared to
accept ethereum for the
computers yes that could be one way
potentially yes okay all right we we get
it uh but I guess at the end of the day
uh all these other extreme uh currencies
out there a there’s a matter of faith I
guess in many ways that this thing a
going to work they is going to go up and
so on yeah I mean of course um if you
look out at the long tale of you know
all those hundred hundreds of um
different CS a lot of them are a
speculative investment um I mean it’s
kind of no different to investing in a
small cap Mining stock on the ASX you
know you got of hope that when they dig
a hole they that they hit something but
often they don’t and you know that’s
that’s that’s kind of what happens and
that’s why yeah I think it was Mark
twine the famous American novelist who
wrote Huck F and Tom Sawyer um once said
that a minor was uh a hole in yes a mine
is a hole in the ground with a liar
standing in front of it but we won’t go
any further all right now you’re on the
you’re on my my program tonight because
of the Haring of Bitcoin tell us why
they’re doing it and what’s the
implication of that so the Bitcoin
harving is a event um in Bitcoin that
happens every four years and it’s got
the effect of harving the supply of new
Bitcoin being produced so so this all
comes back to the fact that there can
never be more than 21 that there can
never be more than 21 million Bitcoin um
that that can ever exist so the way this
is achieved is that new Bitcoin get
produced by the minus every 10 minutes
but the rate at which these get produced
halves every four years so prior to the
last Haring which happened last week
there were 900 new Bitcoin produced into
the ecosystem so basically the inflation
rate of Bitcoin was about 4 and a
half% after the Haring there’s only 450
new Bitcoin that are produced every day
so the inflation rate has hared in four
years there’ll be one more Haring and
then four years after that another one
after that and these hars will they will
continue until the year
2140 I believe at which point we would
have produced the
21 so no when new Bitcoin will be able
to be um um added into the ecosystem at
that point yeah so it’s an important
development to restrict the the ultimate
number of Bitcoins that that will be in
existence that’s
correct tell us you know obviously
you’ve been watching Bitcoin for at
least 11 years um what what do you think
is the like the pattern that you’ve
noticed I I know I was talking to
someone recently who ex uh um explored
the Bitcoin world and he he found that
there is there are certain times when
it’s great to buy and also certain times
great to sell uh what patterns have you
you watch when it comes to bitcoin yeah
so the Bitcoin Market is very cyclical
um it operates on a four-year cycle
which which is you know largely because
the harving happens every four years and
you know what we’ve what normally
happens and what um we’ve seen in the
past and you know it’s pretty much
happened every Haring in the past is
that
after a Haring event um you know about
six months later the fact that the
supply of new Bitcoin has hared it
starts to permeate the market and impact
the market so you know you’ve usually
got a demand that is fairly consistent
or maybe increasing over time and the
supply has been reduced so that tends to
have um an effect where the price begins
to go up and then as the price begins to
go up Bitcoin tends to get more
attention in the media more people start
talking about it and that you know often
creates um a violent increase in the
price you could say so the price you
know might go up 3
400% in the space of a few weeks and you
know that creates even more talk in the
media and then it you know you end up
you end up creating a bit of a bubble I
suppose and then that bubble tends to
pop and then you have one or two years
of a very quiet Market where you know
everyone talks about Bitcoin being dead
and people say well this is over now and
that that you know people kind of start
to move on to other things and Bitcoin
starts to lose attention and then
another Haring comes along and it all
kind of starts again and this has been
um a cycle that has repeated around
every Haring and it’s been quite
predictable in the past andan one last
question um I know as a watcher of more
conventional Investments I know the red
flags that make me get a bit spooked and
the one thing I’ve noticed with Bitcoin
is that it it sometimes lags a tech
bounceback but when Tech bounces back
Bitcoin eventually gets to to to play
and often plays very very well is it
fair enough to kind of assume that if
anything comes along that’s really going
to KO tech stocks you know like rapidly
Rising interest rates that there will at
least be a time where Bitcoin will also
suffer as a
consequence um yeah look I agree that’s
kind of been the case in the past so you
know what we’ve I think in this U period
of time I guess in this period of
evolution of Bitcoin and people’s
understanding of
Bitcoin um a lot of investors treat it
as a risk on asset like like you said so
they kind of treat it like a Technology
stock and I think a lot of that comes
from you know the inability of
institutional investors right now to
have a good pricing model around Bitcoin
because it’s unlike any other ass that
they invest in so they think well it’s
probably the closest to a Technology
stock let’s read it like a Technology
stock um and that has been the case over
the last two or three years um but you
know you have to remember that Bitcoin
is not a Technology stock it’s not a
company uh it
doesn’t produce
technology um it’s it’s an asset more
like a commodity that’s traded 247
around the world and people kind of in
various parts of the world
treat it in different ways and they view
it in a different way and I think that
over time we will see that you know the
attitudes of investors change and it’ll
be treated less like a risk on asset but
more like a commodity like a gold you
know like like an asset with a limited
Supply that you know cannot be produced
arbitrarily at at will any government
can’t be inflated at will that um can be
transferred easily um around world can
be stored easily it’s it’s it’s really
you know if you look at its attributes
it’s really more like a gold than it is
like um an Amazon stock but but I think
just where we are right now with
people’s understanding of it it’s being
treated in that way but I think those
correlations are beginning to break so
if you look at the the I guess the
performance over the last one month you
know it looks like interest rates aren’t
going to drop this year like people
thought or maybe if they will then it
won’t be by as much but the price of
Bitcoin hasn’t actually dropped by as
much as a lot of other technology stocks
have around the world so I think those
correlations are beginning to break and
I think we’re now in a market where
there are literally two groups of people
that that that view Bitcoin in very
different ways and the the group that
views it more of um a limited Supply
commodity asset is growing and the group
that’s viewing it as a risk-on asset is
beginning to shrink so I think you you
will see these correlations change and
evolve over the next one or two years
yeah it seems to me it’s a poor man’s
gold but the price of Bitcoin is a lot
higher than gold and I would I would say
that when people ask me about gold I
think it’s a it’s the best time to buy
Golds when the price is really really
low and that’s been pretty well the case
for Bitcoin Buy Low so high that’s uh
that’s pretty good advice there all
right mate great thanks for joining us
it’s my pleasure thank you very much
pleasure
[Music]
cheers and that was Adrien prne of
independent reserve and now Mike Gable
of Fairmont equities looks at a number
of very interesting stocks which the
charts are saying look pretty pretty
good well most of them are in that uh
category so let’s go join Mike Gable of
font
equities thanks for joining us Mike
thank you so we got a few things to look
at now the Market’s been very volatile
some people talking about we’re in the
pullback and we were but then it re
rebounded the Market’s up today uh so
let’s kick off with the the market that
really drives everything the S&P 500
what are you seeing there look I mean so
far it’s just a run-of-the-mill pullback
really I mean every year you get these
uh you know 5 to 10% pullbacks and and
that’s exactly what we have now so you
if we have a look at you know the rally
off the lows in October clearly um you
very strong move higher so I don’t know
why anyone’s um surprised to see the
market pull back this is only about a 5%
move is that it well I mean it’s been
trading pretty well in the past week I
know our Market has had a you know had a
rough day on Friday but in terms of the
US um not trading too badly and maybe it
does something like what we saw in the
second half of last year where it just
needs a little bit more time to wash
through but I I don’t I just don’t see
it coming back to the same extent at
this point in time um I think it might
drift sideways a bit and frustrate a few
people but yeah essentially just a
pretty standard cooling off and I expect
it to head higher throughout the rest of
and I guess the only thing that could
send it low would be a
surprise piece of economic data that
says inflation’s rising in the US and
therefore they might have to raise
interest rates or no Cuts forever or
something like that the market needs to
be completely spooked for that become
something serious yeah at the moment it
seems as though the Market’s more
concerned about um the fact the economy
is doing well companies are doing well
and that seems to be overriding uh any
of the other negativity exactly right
okay let’s go to the the local market
now yeah so this CH isn’t it yeah yeah
um but but that was yeah but our Market
still looks good now at this point in
time so um you know this is a weekly
chart and I’m still highlighting um you
know we spoke about this last year how
the market was building up under that
7600 level and as soon as he gets a
breakout you that will be the start of
the new rally and we had that breakout
earlier this year we’ve come back to
retest it you give will take a few
points but generally we’ve come back to
that that breakout level which is quite
natural um and we’re finding support
around that level um looks fine I mean
for those who are who are into charting
you know you could call this pattern an
inverse Head and Shoulders which
essentially is um um you know like a
continuation pattern an upside down Head
and Shoulders upside down it’s a head
inside the shoulders probably where the
chest is well we just got we’ve got the
person hanging upside down okay um but
basically it’s look it’s a positive you
know there’s been the breakout we’re
retesting it um and it should move
through 8,000 by the end of the year
okay so once again it’s going to be a
surprise piece of data this is not not
telling you that the market until Friday
was worried about ra Rising interest
rates no look at I mean our Market
because you know it’s been a
double-edged sword with all the
resources that we’ve had it’s hurt us a
few years ago when Tech was going up in
the US and we lagged but but now that’s
going to help us of course with you know
Rising commodity prices gold copper um
what have you so I think that that will
actually help our Market yeah and China
on the improve will be big help as well
let’s go to the next one now some
individual companies and this is foros
skew uh it’s something that you have
liked when a lot of the analysts haven’t
liked it um I guess um well it looks as
though it’s trying to do another
comeback yeah yeah I’ve um I’ve been a
buyer of forcu again in the past um few
weeks or so yeah so the overall pattern
here this is a weekly chart so as we
spoke about last year the building up
under resistance at 23 the breakout saw
it run up towards 30 it’s come back to
retest it it’s bounced off that old that
old level and then in the past few weeks
it’s essentially traded sideways so um
to me looks like it’s preparing for
another another move higher so would you
sell at
30 um look I did sell a bit earlier than
30 um but I’m definitely getting back in
or I have got back in for clients so
yeah yeah looking good yeah and I I
guess helping you was and improving
Chinese Outlook still not as great as
you’d like it be but it’s a lot better
than what the experts were tipping say
three or four months ago exactly y let’s
go to the next one now ch chalice look
unfortunately still a bit of a sick
looking chart so you know look like a
hero on this half and then in this half
it’s um obviously given up from about
$10 down to it’s trading only slightly
above $1 maybe it’s basing so what I
mean by that is maybe there’s enough
buying support that it it heads sideways
for a while and the reason why it’ll be
hard for it to to Rally strongly from
down here is because you’ve got so many
people have paid higher prices for
Charice that every time he gets a bit of
a run and I think today is one of those
days where I think it’s up 8 or %. it
doesn’t tend to follow through because
people hit the sell button and they
think well that’s my chance to get if
you got up if you got in at say five or
six or even eight or 10 it’s interesting
but it it basically is in that sort of
space that it just needs
um some some circuit breaker to make it
come out of that that funk that’s in
there yeah exactly and then it needs to
work through all the all the sellers who
sell into that so that’s why you end up
with it heading sideways for a while as
it builds a base and then eventually
hopefully all the stars are still align
for the business and it can head higher
but I think it’s too early for that
given Tim Go’s involvement in chalice
the last 12 months or so hasn’t been
great for the Goa family no no I mean he
was in in all the papers not long ago um
when it was buying a lot when it dropped
yeah yeah because his brother’s been
coping at qutis and AFL as well so it’s
been I must admit Richard Gord used to
be very good on my TV show when he was
at Wes Farmers one of the few guys who
turn out whether the report was good or
bad but since then he’s CED a bit let’s
go to the next
one R yeah um have to Adit I’ve um
selling it uh selling it today um for
some clients so yeah done really well
off those lows um I think from the
October low to where it is now it’s
you’re looking at a 50% return
um so what we’ve had is you know as
we’ve spoken about before the big Drop
the Base the up the break out of the
base um so that that’s your Buy Signal
and it’s traded really well so you get
these nice rallies consolidation rally
and you’ve had this sort of longer
consolidation here it’s popped up again
and clearly in the past couple of days
it’s I think it’s up maybe 12% in two
days so it’s it’s done quite a bit
fairly unsustainable Le is that where
you’re getting out we’re going good yeah
looks some of my clients who are happy
to hold longer term um will be holding
it here and others are happy to you know
Bank the profit and what I what I’d be
looking for is something similar to this
where you had a very sharp move up and
then it it’s SP few you know few months
in the wilderness there and it had its
you know sort of 10% pullbacks along the
way
so that there’s a high possibility of
that happening again I could be wrong um
what I’m looking at here with these blue
lines is there’s a gap in August and
often when you see these big gaps in
share prices when a share gets back in
that zone it tends to suffer quite a bit
of selling I mean don’t ask me why it’s
just an observation I was going to ask
you why too so it cancel it yeah I knew
you would ask that um so with reset I
think it came within about 8 cents of um
the top end of that Gap and then it’s
been been drifting lower all day so look
in the short term it will come back um
longer term I think it still has further
upside so for any of our viewers looking
to buy
ResMed um I don’t think you need to run
in today I think just wait for a bit of
bit of weakness you know see a bit of
profit taking like like in these areas
here maybe it comes back to WS $30 and
um and then pick it up again because I
think it’s still a sort of a mid to high
$30 St I saw an interesting interview on
a program called real time uh us
comedian Bill Mah has a a TV show once a
week and he’s a bit of a saturnist and
he actually had a well-known American
Health television star who’s welln
America I I didn’t know her and she was
laying into the magic diet drugs which
of course affected resident sh PR at one
time in case you didn’t know the
argument was overweight people take the
drugs they no longer overweight
therefore they they have don’t have the
sleep out year they’ve had in the past
resman is going to have a problem that
was kind of the the simple argument and
when he asked her what why she was
railing against these drugs she said
quite simple just read what’s on the box
and there’s a whole lot of warnings
about what happens when you take these
magic drugs she said there’s going to be
real problems for it and I think U they
probably exaggerated the impact of the
change on people the the weight loss and
the Sleep apne issues resm Med’s
probably um resumed it successful
performance this was a gift it was you
don’t see these opportunities every now
and then to see it drop from current
levels in the low 30s to the low 20s on
something so silly and we got that one
right we’ll ignore the ones we got wrong
but that one we got right let’s go to
the next one okay talking about you know
Health stock
uh Ramsey has been a disappointment I’ve
got to say I when it share price fell I
thought another good buying opportunity
but it really has struggled are we
seeing anything to raise our confidence
not yet to be honest um I mean and we
like you to be honest Mich a choice
between dishonest and honest we go for
honest um so this is a weekly chart and
essentially it’s at the same level as 10
years ago so I know know we have stocks
like CSL which are the same levels as 3
or 4 years ago um but yeah this is quite
extreme so 10 years of of of nothing
really and these guys were offered what
I offered 70 yeah must must have been up
here this is why I always the board said
no you get these take offers yeah just
sell the stock because look at the
downside risk if it doesn’t so you get
these takeover offers and you hold out
for a little bit more and then it
doesn’t go through and then you have
that happen to you
um look you could maybe say well there’s
a bit of a range here it’s at the bottom
of the range but um yeah look it’s
there’s just nothing at the moment
that’s telling me that it can head
higher if you’re looking at Health Care
stocks okay obviously um you know
ResMed run hard in the short term but
that still is further upside you know
cockle is trading well um I think CSL
obviously is a much better company than
Ramsey so yeah there’s already three
Healthcare stocks do you need a fourth
one um probably not no I guess for the
people who are holding would you be a
seller or would you move on to something
else yeah yeah you’re a hard man you
can’t hold everything you must be a
tough father for you’re poor kids all
right let’s go to the next question next
uh next one xrf now both you and I
weren’t sure about this but we were
quite impressed with the chart um what
what do you this is a xrf scientific and
they are in in to uh yeah it looks like
they’re into um scientific testing in
the mining area again I hadn’t heard of
it so just from the little the little uh
two seconds research I’ve done but just
purely from a charting point of view you
great chart and it makes sense um if
they’re in the right the right sector at
the moment um so I guess what’s
interesting with this chart is you get
um yeah there’s been a couple of
instances where you have that sort of
classic formation of a resistance line
you break above that resistance line
meaning all the sellers are gone and
then the Stock’s able to resume that
uptrend so we could see at this point
here you sort of essentially headed
sideways with a you know bit of selling
kicking in every time it got near about
sort of 75 cents 80 C then as soon as it
cleared that it was right to Rally again
um and then once again we could see here
about a year ago there was obviously a
bit of selling up up here near about a 1
35ish uh and then most recently it’s
come back to that level and it’s popped
up so it looks like all the selling is
over um and if this is one big
consolidation that’s been in place for
about a year that means we should end up
with a multi-month rally from here so so
far so good with this does it mean as a
company you you do some homework on
given the fact that wasn’t on your radar
screen I’m I’m inclined to do exactly
the same thing myself yeah if I mean if
if it’s head the right way and it’s
doing all the right things then it’s
definitely one
to let’s go to the next one now it’s
another well this is a more well-known
one Sonic uh Healthcare yeah um doesn’t
look too hot doesn’t so unfortunately no
no indication that it’s it’s forming a
low or or seeing great buying support
it’s just one big downtrend since um Mid
2021 when it it looked like they were
going to make a fortune pmic was good
testing yeah so yeah pandemics don’t
last forever and and you know that’s
what you end up with so again um yeah
how many Healthcare stocks can you hold
do you need to have this one I guess the
answer is no yeah I apologize to the
board of Sonic but at this point in time
you’re not doing enough to impress us
let’s go to the next
one and another another one we haven’t
heard of before kind shocked us and I
should say some of these have come from
uh
subscribers who when we do boom Doom
Zoom which you’ve sted in occasionally
uh they come from leftfield with some
interesting companies we don’t know and
this is wellam a
AI mining AIC mining yeah the name of
the company so again quick look it tells
us that it’s copper and gold so the two
Commodities that are doing really well
so again it’s um you know I’ll have to
look into it there before that’s
interesting thing is it yeah yeah so
essentially what we’ve got is um you
know you’ve got a downtrend that’s again
a very clear line in place there um and
that was
broken it looks this is a weekly chart
so it looks like only about two months
ago um so shame shame I wasn’t aware of
it then so it’s on the way up I mean to
buy it here it’s run pretty hard you’d
be looking at a pullback yeah a bit of a
pullback um but you’d be holding it and
I guess if you’re out there thinking
well I want to get exposure to Copper um
and at the moment in our Market it’s
pretty much BHP and sire the big two and
BP is trying to buy more through Anglo
americ Amer um so maybe this is one to
to look at if you’re happy to take on a
bit of risk look as I said don’t know
anything about the company so viewers
have to do their own their own research
but it’s trading the right way so that’s
that’s the main thing I mean the last
the last thing you need is to yeah
you’ve been positive on copper you’ve
you you bought the copper stock you’re
right Copper’s going up and then your
stock just goes down yeah at least this
one’s heading the right way it’s
interesting Mike you know um a lot of my
clients my financial planning clients
have been asking me about gold but my
problem is I think go could go higher
but you are a record highs aren’t you so
it’s and when it falls it it falls yeah
it can move it can move pretty quickly
are you buying gold you you’re buying
gold stocks we’ve definitely been buyers
of gold yeah since still year um I’d be
looking to buy on on a pullback from
current level so at the moment the gold
price is consolidating but when you look
at um you know the Central Bank
buying um and it seems to be that Gold’s
in a bit of a sweet spot where if
they’re not raising rates everyone
thinks that inflation will get out of
control so you’ll buy gold otherwise if
they if they do drop rates then you know
gold clearly benefits from that so I
guess if Wars stop H that’s probably a
big big one to um believe in um but if
uh interest rates start to fall then we
may well have seen the top of gold but
those are got in
early and once you go early have been
waiting a long time for this recovery
haven’t they yeah well I mean gold it is
very cyclical and there’s been there’s
been periods where I’ve just stayed away
from gold stocks I think yeah until we
started buying last year I I don’t think
I traded I think it’s been years since
um we’ve we’ve traded gold um to any
great degree okay do you have any more
stocks left well you’re your favorite
yeah I I brought something in today so
this is mcari um we all you’re going
very conservative M I totally agree with
you I was going to bring in another
uranium stock I’ve already done that a
few times um I just really like these
levels for for mcquarry um obviously
they’re a benefici beneficiary of
improving Global growth um etc etc so in
terms of the way it’s traded you very
nice sort of pattern here where you had
this sort of cooling off in the share
price since the the peak in in
2021 um very clear downtrend line which
has been broken but since then it’s been
tested on a couple of occasions so back
here I think in February it dropped very
briefly and then bounced again and then
most recently in the past couple of
weeks it sort of dropped again to that
that old breakout Zone near $180 and
then it’s bounced so you end up with
this sort of double bottom
within not showing it here but the
long-term trend for mcar is to the
upside so you get these little double
bottoms yeah um and that’s quite a
bullish sign so I think here in the 180s
is a buying opportunity and I guess what
you’re betting on is does the US come
out of its potential troubl period And
there’s more growth lower interest rates
tech companies and growth companies do
well and mcari is intimately connected
to growth isn’t it and and the US is
more important to mcari than Australia
nowadays so all that’s the whole story
and it means from my point of view when
people ask me is like I won’t be
surprised if it Beach 200 because it’s
been to 200 on the strength of what
you’re saying you know what what’ you
expect 210 220 over the next year uh it
should go to new highs um but yeah once
you know once it gets to those old highs
near 110 115 it might obviously slow
down there’ll there’ll be people selling
woring people you said 150 oh yeah sorry
a lot of people just press the cell
button yeah so all right so that’s
that’s a fair call it’s an interesting
call marike thanks for joining us thank
you that’s Mike gal from Fairmont
equities and that’s a show for this week
I’ve allowed everyone to see the entire
show this is what the subscribers to the
Switzer report gets to see every week as
you can see it’s really worthwhile
information and certainly worth paying
for if you’re interested in becoming a
subscriber please go to Switz report.com
DOI I hope you do become a subscriber
I’ll see you next week

Subscribe to Switzer:
Switzer Report – https://switzersuperreport.com.au/subscribe
Switzer Daily – https://switzer.com.au/subscribe
The Peter Switzer Show – https://switzer.com.au/the-peter-switzer-show/

Follow Switzer:
YouTube – https://youtube.com/channel/UCbzy75ul0j64m2s_L–i1gA?sub_confirmation=1
Facebook – https://facebook.com/switzer.com.au/
Twitter – https://twitter.com/switzercomau
LinkedIn – https://linkedin.com/company/switzer-media—publishing

#asx #sharemarket #stocks