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Sunset Strip | Aussie market seems to have broken the recent down trend and followed the positive global lead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market seems to have broken the recent down trend and followed the positive global lead. We turned short term positive on Wednesday with market having a panic sell day before FOMC meeting. We expect the market to get back to good quality growth and yield stocks after recent selloff. BHP and RIO remain buy ideas when you look at the supply/demand and volume/margin dynamics. Given the drop in energy prices and the valuation of the energy stocks, STO and WPL are likely to see selling pressure to fund BHP and RIO. AUDUSD held just below 90 cents and we expect it to hold around these levels in the short term and then slide down to mid 80's. Nothing has changed...still prefer to have 3 pillar core portfolio...refer to page 19. Trading idea of the day: Henderson Group (HGG). Friday's High Risk Pick: Bionomics (BNO). (VIEW LINK) (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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