Following yesterday’s less hawkish than expected commentary from Michele Bullock and the RBA we are taking a contrarian bullish stance toward Australian retail via Premier Investments, initially targeting the $15 area, or 25% higher.
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Thursday 11th September – Dow off -220pts, SPI off -20pts
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Wednesday 10th September – Dow up +196pts, SPI down -4pts
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Buy Premier Investments (PMV) at $12.00 with stops at 11.20, around 7% risk.
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