Sunset Strip | Aussie market pulled back with negative China data and banks experiencing some selling pressure as the last of the big banks went ex div

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market pulled back with negative China data and banks experiencing some selling pressure as the last of the big banks went ex div. There was again a clear sense of a decent buy portfolio running through the market in the last few hours...decent jump in traded volume. Yield thematic is going to remain the key investment thematic with low growth and population demographic. Positive big moves were mainly small cap resources on commodity bounce. Uranium stocks PDN and ERA had a good day on news that Japan is starting on reactor. The rest of the big moves could be falling down tomorrow when the tide changes. There were some quality stocks like GEM, LLC and DMP saw selling...partly profit taking and partly growth worries. There were no real catalyst to move the market today and it trended down with negative China data. Trading idea of the day: CarSales.com (CRZ). Monday's Macro Stock Pick: Henderson Group (HGG). Chart of the day: Prime Media (PRT). (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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