Sunset Strip | Aussie market gave back most of yesterday's recovery with substantially negative global lead

Sunset Strip | Aussie market gave back most of yesterday's recovery with substantially negative global lead. We remain of the view that the worst is over for the Australian market with yield/valuation support and currency bouncing. RBA is trying to release the pressure slowly and limit the damage. We continue to feel that RBA is currently trying to curb house prices to leave themselves the option to cut rates in 2015...assuming inflation does not spoil the party. Given the current policy standings and RBA stance, we do not see rates going up in Australia till 2016. Super Mario takes the stage tonight...he will talk, he will promise...but will he deliver...wait and see. Just to keep things in perspective...what the world is spending to fight Ebola in Africa is less than what is being spent in Iraq in just one month.... risk and return are generally easy to understand but never appreciated till it's too late. Trading idea of the day: Henderson Group (HGG). Thursday's Thematic TMT Pick: Telstra (TLS). (VIEW LINK)