Sunset Strip | Aussie market maintained the negative trend on low volume similar to yesterday despite China FTA and potential Indian FTA next year
Sunset Strip | Aussie market maintained the negative trend on low volume similar to yesterday despite China FTA and potential Indian FTA next year. We see this low volume negative trend continuing well into next week....hence we suggested to take profit on Nov 6th....buckle up....this could get bumpy in the short term as 3mth moving average moves below 12mth moving average on technical basis with rising volatility....remain positive long term. The positive trends were mainly related to bargain hunters in small cap mining. We are turning positive on gold with global growth risk rising and spot gold just below key support level of $1190...we like NCM, NST and BDR. The negative trends were dominated by Iron Ore stocks....FAQ...NO, it is not the time to pick the bottom of Iron ore small caps...better to be late than early. AGI got hammered again....we like it long term...quality gaming stock with US exposure. Trading idea of the day: CarSales.com (CRZ). Tuesday's Retail Therapy Pick: Woolworths (WOW). Chart of the day: Prime Media (PRT). (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...