Sunset Strip | Aussie market is beginning to win the battle over the pessimist as it pulled out a solid positive day on decent volume. The longer the market holds up, the bigger the pinch on fund managers sitting on the sidelines. Fund managers are playing chicken with the market and they are beginning to fold. We continue to be big fans of the media sector with M&A coming...preferred picks are APN, PRT, SXL, TEN and SWM. We also see potential M&A cycle coming to Mining Service sector with ANG, BKN, CDD, WOR and UGL as potential targets....every dog has its day...signs of short covering today. ACR is another heavily shorted biotech stock now on the bounce back...headed to $2 with some testosterone. Trading idea of the day: Veda Group (VED) going to $2.30. Wednesday's Star Performer: Vita Group (VTG) Price Target: $0.90. (VIEW LINK)
Please sign in to comment on this wire.