Sunset Strip | Summary: Aussie market was positive despite falling miners and negative US sentiment
Sunset Strip | Summary: Aussie market was positive despite falling miners and negative US sentiment. US Fed followed the script and shut down QE and flagged low rates for considerable time. The currency wars will continue to keep rates low for longer. We remain of the view that while rates remain low, Australian equity dividend yield is hard to ignore when comparing on a global risk/return basis. Market Movers: IPP bounced back 12% as expected after the market overreaction yesterday. CCL was up 4% with their new Indonesian growth plan. VET got hammered again by 15%...at some point the value hunters will have to come. AGI, GXL and AAD saw some profit taking (i.e. down 5-6%) and we see them as quality stocks to accumulate for the long run as value emerges. Gold stocks got a touch up today after FOMC update...the next trading time will come when spot gold gets below US$1200. Trading idea of the day: CarSales.com (CRZ). Thursday's Thematic TMT Pick: Telstra (TLS). Chart of the day: Southern Cross Media (SXL). (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...