Morning Report Friday 26 February 2016
Three stocks we're watching carefully at the end of a tough week
Good morning everyone Overview So far the ASX200 has had a disappointing and volatile week, falling 1.4% when the S&P500 has rallied 1.3%. Once again the banks have been the main contributor to our weakness as stories about an imminent property collapse have flooded the media but the recovery in resource stocks has also hit a speed bump adding to market unease. Turning to the Markets Today Market Matters is focusing on 3 stocks that are catching our eye on both the buy and sell side outside of the big index movers. Seek (SEK) $14.38 Market Matters has a 6% portfolio weighting in SEK after taking 50% profit on our position over $15, do we grab a small profit here? Yesterday SEK delivered an excellent profit result and forecast leading to a 7.9% rally in the stock; simply, all looks good. We remain comfortably being long SEK. Stops can now be at $13.60 rising to $14.60 if we get a clear break over $15.
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