Sunset Strip | Aussie market delivered a flat day despite the positive global lead

Sunset Strip | Aussie market delivered a flat day despite the positive global lead. We continue to be negative in the short term as we have not seen any substantial earnings upgrade to change the valuation bands. We remain positive long term, but short term bumps are expected when market runs too far ahead of reality. ECB now has to deliver or the markets will pullback substantially. US economy is holding up on below trend growth while Euro is in a lot of trouble. Locally house prices and budget woes gets media play. How many economists does it take to work out consumer sentiment? Only one...but he or she has to live in a suburb where the average house does not have a water view and have to use public transport to come to work. Trading idea of the day: Henderson Group (HGG). Tuesday's Retail Stock Pick: Woolworths (WOW). (VIEW LINK)