Sunset Strip | Aussie market turned the corner of negative global investor sentiment despite currency falling on negative retail data. The key negative sentiment at these market levels for Australia was purely based on global investors wanting to get out with falling currency. The global investor loss is local investor gain...long term investors with cash sitting on the sidelines will pick up the bargains with ECB to bring out the QE genie in the next few days. As the market sentiment improves, expect short covering and switches from well performed stocks to large caps that have been oversold. RBA is stuck between a rock and hard place. Given the current policy standings and RBA stance, we do not see rates going up in Australia till 2016. We are more likely to see property prices stabilise/subside and even get a rate cut next year. Trading idea of the day: Henderson Group (HGG). Wednesday's Star Performer: Vita Group (VTG). (VIEW LINK)
Credit is where credit is due. They outplayed the Roosters in their own game. Now lets hope they got another classy game in them.
Glad to see you changing your tune on the rabbits