Sunset Strip | Aussie market held a relatively flat day despite negative global sentiment and weak commodity prices
Sunset Strip | Aussie market held a relatively flat day despite negative global sentiment and weak commodity prices. Predicting retail recovery in an environment of falling real wages, rising unemployment and rising cost of living is fraught with danger. We see a very likely scenario where RBA will be forced to cut rates in the middle of 2015 to stimulate a stagnant economy. CSR had a good day after a solid result on the back of housing strength....not sure that is going to last too long. WOW had a bounce as expected after recent bashing...expect investors to switch from WES. Number of defensive yield stocks had a good day as market was sceptical on the next move in US markets. Resources stocks saw some pain today and there is no need to pick the bottom with no macro positive on the horizon. Spot gold will continue to fall if the US data remains positive this week....again...no need to pick the bottom. Trading idea of the day: CarSales.com (CRZ). Wednesday's Star Performer: Lend Lease (LLC). Chart of the day: NextDC (NXT). (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...