Sunset Strip | Aussie market continues to defy the pessimist and hold up despite global negative sentiment

Sunset Strip | Aussie market continues to defy the pessimist and hold up despite global negative sentiment. The longer the market holds up the bigger the pinch on fund managers sitting on the sidelines...you know you want to get back in...it is a matter of time....fund managers need performance and brokers need volume...there is a good trade waiting to be had. The market pundits are mainly negative, but the M&A cycle and stable/positive reporting season should bring them around. Spot gold is bounced off $1290 level again...time to go long on low cost gold equities. Trading idea of the day: iProperty Group (IPP)...we have been positive on this stock despite the massive selloff down to $1.82...now trading $3.69 after REA took a stake of 17.2%...more to come. (VIEW LINK)