Sunset Strip > Trading Day Wrap From Blue Ocean 20170706

Mathan Somasundaram

Deep Data Analytics

Local market was aimless and flip flopped with US futures all day to finish mainly flat. Currency, Commodity and global sentiment remains weak. The historical trend suggests were likely to remain in this up and down trading days till the last week of July. The best performing sectors were IT, Gold and Health Care while the worst performers were Telecom, Banks and Energy. On the sector/stock front….(1) Chinese PE move into Lithium and Volvo into Electric cars helped SYR and GXY deliver another short covering run (2) CSV bouncing from the lows as shorts fall over (3) PRU leading the recovery story in gold sector for July/August run (4) DRM was smashed on mine suspension (5) LNG lead the way down for energy stocks.

 

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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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