Santos and the Energy Sector bounced yesterday with oil finding support after recently retracing over 8% as expectations grew that the US would release its reserves to quell the surge in prices which has been stoking the inflation fire. We remain bullish crude oil into Christmas looking for fresh 2021 highs potentially a further 10% advance, hopefully such a move will give STO the backbone to test / break the psychological $8 area – over 15% higher.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM remains long & bullish STO
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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