Sunset Strip | Aussie market gave back half the bounce from yesterday with continued worry about China

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market gave back half the bounce from yesterday with continued worry about China. MPL start was below expectations, but given the market, we shall wait and see what tomorrow brings. There was no big positive trend, but more stock specific drivers to the big moves. OFX moved up 9% after recent beating on good update, but beware the 20m shares coming off escrow. NCM was up 6% despite spot gold not doing much. The negative movers were mainly bad boys (i.e. TFC, DNA, SLX, MND, BDR etc) and they fell further. NWH update took a few more mining services down with it. TFC has fallen from $2.20 to $1.21 in 2 months...falling knife, stay out of the way. Trading idea of the day: BHP Billiton (BHP). Tuesday's Retail Therapy Pick: Woolworths (WOW). Chart of the day: iProperty (IPP). (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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