Morning Report Monday 19th October 2015
A bit heart in mouth this AM after watching the Wallabies try very hard to exit the RWC!!!!
When we look at US equities, technically, the Elliott Wave count predicts a ~3-4% pullback short term. Statistically this would not be uncommon after the recent 8.6% advance - see chart 1. Nevertheless, our overall perspective of the ASX200 remains that we are looking for a solid run up into Christmas but with near term weakness providing possibly the last opportunity to acquire well priced investments to position for the run up.
The simple question we are now considering is what 3 stocks look likely to be good buying if the local market follows suit and retraces a few percent?
We have looked at 3 stocks that are up strongly over the last month: Magellan (MFG) +11%, Santos +16% and Crown (CWN) +9.8%.
Show more...
