Morning Report Monday 29 February 2016
Good morning everyone and we hope you all had a great weekend. Overview The position of the market was reviewed in the weekend report so this morning we take a look at Woolworths (WOW) and Wesfarmers (WES). Market Matters are a market leading advisory service, to subscribe to their free newsletter click here On Friday, after posting an almost $1bn after-tax loss for the half year, Woolworths (WOW) shares crashed over 6%, to fresh multi-year lows in early trade only to rally strongly and close up 1% for the day. This very strong turnaround on bad news is a classic scenario for a major bottom in a bear market; do Market Matters think WOW is now a buy? Market Matters are a market leading advisory service, to subscribe to their free newsletter click here Two things are clear1. WOW has experienced a bear market correction since 2014 with the stock falling almost 30% but trading conditions have deteriorated and their investment in Masters has been a disaster.
Show more...
