SHORT TERM - Traders take profit on winners - market likely to be down for the next few days | Why
SHORT TERM - Traders take profit on winners - market likely to be down for the next few days | Why? (1) ANZ, NAB and WBC are going ex div in the next 2 days and likely to be a drag on the index (2) US market needs to take a breather after all the positive news of late (3) AUDUSD has come back hard and generally highly correlated to the market (4) Iron Ore and Oil remains in decline phase...risk to Resource sector (5) Financial Sector Inquiry due soon...risk to Financial sector (6) Volatility has come back from the highs to relative low level and risk of rising again (7) Market back at premium to fair value on yield chase (8) Domestic macro remains very weak (9) Global risk remains high with low growth (10) Investors are unlikely to make big bets on a Friday
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...