Sunset Strip | Aussie market started negative and then traded up and down with lack of any strong sentiment

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market started negative and then traded up and down with lack of any strong sentiment. The market is currently waiting for clarity from US Fed on their interest rate outlook. BHP and RIO are now 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. Myer (MYR) got smacked again...I still struggle to see a business model that can withstand the competition and macro head winds...another retailer with similar problems that we have had a sell call from $17 to now trading below $10 is Reject Shop (TRS). Next week brings clarity on Scotland, FOMC on interest rates and Institutional Investors on school holidays. Trading idea of the day: BlueScope Steel (BSL). Friday's High Risk Pick: Bionomics (BNO). (VIEW LINK) (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 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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