Sunset Strip | Aussie market was held relatively flat by yield stocks (i.e
Sunset Strip | Aussie market was held relatively flat by yield stocks (i.e. financials and telcos) while resources (i.e. mining and energy) were under selling pressure. Federation GST trap and mid-year budget update in mid-December should keep the foot on the throat of any Christmas retail recovery. As a wise old man once said, you buy retail stocks when rates are going up....that means they are spending too much. VET had a clanger of an update to drop 57% and close below $1...the signs were not good when it dropped from $3.40 to $2.20 odd a few weeks ago...management better get educated on how to deal with angry shareholders...it could get messy. There were short covering and selling to fund IPO's muddling the market. Investor risk profile usually rises into Melbourne Cup week....let's hope that trend continues.. Trading idea of the day: CarSales.com (CRZ). Tuesday's Retail Therapy Pick: Woolworths (WOW). Chart of the day: Spark NZ (SPK). (VIEW LINK)
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...