Sunset Strip | Aussie market had a cracker day in line with solid positive global sentiment

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market had a cracker day in line with solid positive global sentiment. Market has now almost rebounded back to the post GFC high at the end of July. We remain positive long term while our short term positive call is waning with market rebound getting close to our short term target. It is interesting to see more economists and RBA revealing their negative views on the local economy and accepting the effect of budget woes, high unemployment and low growth will remain for a while as we have been saying. We do not share the view that we will see recession as Australia benefits from relatively high level of interest rates and high currency that can work as a buffer if macro conditions get substantially worse. Trading idea of the day: Cardno (CDD). Tuesday's Retail Stock Pick: Woolworths (WOW). (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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