Local market ran into a brick wall after global market sentiment flopped on the last day of the financial year. Commodities had another good night and that kept Miners in the relatively better performer category. US dollar sliding out of control as markets justify asset valuation against fiscal debacle and rising rates. NASDAQ maintains the volatility and the down trend…fell over 1% again…continue to see risk in high growth as Resources recover…take some profit in the High PE local Industrial growth stocks and come back in a month. Fundies have set the positions for school holiday period…Retail investors have flicked the tax loss candidates…Fundies have locked in their financial year performances…anything could happen next week…time to remain nimble as US markets have more downside on risk off trade and drag Aussie market down as well. China official data and Japanese inflation data were positive without creating any inflationary worries. The best performing sectors were Staples, Miners and Energy while the worst performers were Property Trusts, Health Care and Industrials. On the sector/stock front….(1) MIN has a cracker day on a upgrade at the close yesterday that the market was hinting at over the last few days (2) VTG and CSV enjoyed further upside as shorters covering before the end of the financial year (3) CAB moved higher on continued positive sentiment from 49% sales of City Fleets Network (4) FXJ was bashed as investors worried that the bid will not come before end of today’s deadline (5) BTT was punished as broker reports questioned the performance fee outlook. The global economic surprise index moved into negative territory a few weeks ago as IMF downgrade of US growth was leading the growth downgrades to hit global outlook. CBA is offering 2 year fixed rate lower than variable for principal and interest loan…are the banks expecting rate cuts or the economy to slow or property bubble to burst…fact vs chatter!!!
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2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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