Sunset Strip | Aussie market took a beating in line with global lead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market took a beating in line with global lead. We could use everything from Argentinean football bonds, Portuguese chicken banks, hedge fund follies, US rate hikes, Russian roulettes, Middle East mayhem, African Ebola and countless market pundits with million varied views to explain the selloff. Market has been expecting and wanting a pullback and finally the weight of so many bad news it has continued to ignore has just taken the US market to a bridge too far...and it needed to let some steam off. If there is a correction, I'd expect that to happen after the reporting season when the market is sitting in an information void with no macro/market lead. Trading idea of the day: Xero Limited (XRO)...heading back to $30. Friday's High Risk Pick: Bionomics (BNO) - Rating: Buy - Price Target: $1.10. (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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