Month: November 2016
Yesterday was probably our toughest day since the inception of MM, as we saw one of our holdings Vocus (VOC) plummet over 20%, courtesy of a poor update. Simply another story of a local company failing to merge / takeover another business in a successful manner over the short-term. The trend of underestimating how hard the implementation becomes in reality, appears ingrained in companies within the ASX200 – a potential warning to Boral investors in recent days.
Last night was a relatively quiet on Wall Street, with the one thing catching our eye… The strong performance from the Utilities Sector, gaining over 2% on a down day. In a similar but less dramatic fashion to our local “yield play” / utilities sector, the American Utilities have corrected 14.9% over the last 4-months. Our view recently, which led to the purchase of Transurban (TCL) and Westfield (WFD) as the sector had fallen too far, too fast.
Morning All,
As the US sits back and enjoys their Thanksgiving the short-term bullish trend for the ASX200 has clearly been established. Even with no major leads from overseas markets the futures are pointing to a 25-point higher opening, well over 5500. We remain bullish with a break back over 5600 a very strong possibility for 2016, we will be watching both the seasonal and technical paths closely over coming weeks, for the traders we anticipate the below:
Really bullish, there's more to go in the reflation rally
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