Sunset Strip | Aussie market delivered a flat market despite negative global lead and falling Iron Ore price

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market delivered a flat market despite negative global lead and falling Iron Ore price. We continue to be negative in the short term as the markets have run too far ahead of valuation, rising geopolitical risks, stocks going ex div and escrow shares taking marginal buying. Market has broken the technical support level over the past week and trending down. Media stocks (i.e. SWM, SXL and PRT) were sold down in recent days...may have something to do with funding the NEC escrow shares. The latest government thought bubbles are the 457 visa employees to get paid up to 10% less and changes to RET...I am sure these will solve the decade high unemployment problem in Australia. Trading idea of the day: Henderson Group (HGG). Friday's High Risk Pick: Bionomics (BNO). (VIEW LINK) (VIEW LINK)


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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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