Sunset Strip (Afternoon Report) - Aussie market started negative and then pulled out a small positive on the back of banks in low trading volume

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market started negative and then pulled out a small positive on the back of banks in low trading volume. Commission of Audit (aka H&R Block) report was making the rounds with both party spins attached. US job data overnight to set the trend next week while Putin remains the key to Euro growth struggling with deflation. Market is expecting the May selloff and selling good quality outperforming stocks on any update. Value is emerging with good results driving upgrades and panic selling in other stocks. Banks, Big Retailers and Telstra remain the big cap favourites over Resources. Despite being positive long term, we turned negative on Apr 11th on valuation and macro worries. Mixed US corporate/macro updates, US Fed tapering, rising Ukraine risk, China growth risk, Bank dividend cycle sell off, Stretched valuation and budget worries keeps the risk/return balance towards profit taking mode. (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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