Sunset Strip | Aussie market was flat and aimless without any strong macro lead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market was flat and aimless without any strong macro lead. Banks positive return was negated by the miners sell off on Iron ore worry with a global broker downgrading outlook. The positive big moves saw a few quality industrials like IFM, RCG, BAP and ALL deliver above 3%. PDN continued the positive momentum from yesterday into today's investor update with 7% upside. IPL result saw it bounce over 5% despite the write downs...may be a bit of short covering in play. The negative big moves were all for small cap gold and iron ore stocks....BDR, SLR, SAR, MGX and MML were down over back the bounce they had yesterday. TMT stocks are doing well with SPK and SXL the big improvers of late. Trading idea of the day: (CRZ). Tuesday's Retail Therapy Pick: Woolworths (WOW). Chart of the day: Southern Cross Media (SXL). NEXT EDITION ON MONDAY 17th...on the road doing presentations in Melbourne and Sydney...hope to see you there!!!. (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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