Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market fell from the open for the second day in a row but this time the market has moved to profit taking mode as we have been expecting. We are in the August profit taking cycle ahead of the reporting season. All the positives are in the price while the reality of weak earnings and outlook statements were ahead. The reality check for the market was always going to be a bitter pill to swallow after the market ran up over 6% in July and more to the point 16% from the lows in Feb. We have been losing steam and the reporting season risk is likely to drive some profit taking. Time to buy Big Banks for lower rates / cheap money and buy Big Miners for weaker USD / China stimulus….TLS, SPK, CSL, RHC, Supermarkets, Infrastructure and Utilities are likely to be funding source!!! US economic slowdown and US Fed backtracking will put a rocket behind Gold…don’t look back in anger!!! (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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