Aussie market took ran into another profit taking from global investors as the currency risk turned up again. AUDUSD is holding up like the All Black forward pack despite everything looking negative. RBA has now resorted to telling the market to not trust the forecasts in order to drive uncertainty after the market incorrectly assumed there was no rate cut coming from their previous commentary malaise. WOW’s BigW and Private Equity interest is front and centre of media coverage and with that much smoke, market is beginning to bet there is fire coming. NTC is the bolter for the day with share price running from $1.60 level to $3.50 level in a week on winning the US deal….more to come…brokers will be putting near $5 target price tomorrow. The markets have taken the recession in Canada/Japan, slowdown in China, terror threat in EU and rate rise in US without breaking a stride. Despite last two days of pullback, it still looks like we are having the Christmas rally!!! (VIEW LINK)
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