Sunset Strip | Aussie market delivered a flat day in line with global sentiment
Sunset Strip | Aussie market delivered a flat day in line with global sentiment. We continue to be negative in the short term as the markets have run too far ahead of valuation, rising geopolitical risks, China tightening, stocks going ex div, escrow shares taking marginal buying and risk of ECB not living up to market expectations. ECB is likely to do some stimulus while holding some back. ECB needs individual governments to start projects and increase employment, but in the current fiscal austerity, that will be a hard mix to sell. RBA has also now joined the chorus calling for the government to curb property prices or face a bigger bubble threat later. MYR and ARI are potential candidates that could see buying if they get kicked out of S&P 100. Trading idea of the day: Seven West Media (SWM). Wednesday's Star Performer: Vita Group (VTG). (VIEW LINK)
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...