Morning Report Friday 24 July 2015
Please click here to see our Head of Distribution Nick Forsyth in the AFR yesterday
In a week where Greece and China have taken a backfoot, the volatility has been provided by crumbling commodities markets pluming multi year lows. With so much activity in many markets, it’s always prudent to stand back and evaluate individual situations to ensure they are unfolding as anticipated and that the implemented trades/investments and future plans are in line with our current market views.
1. The US stock market remains poised for a 10-15% correction, ideally we will see one final high for 2015 first ~2% higher – see charts 1a & 1b.
2. Crude Oil continues to fall, targeting fresh 2015 lows ~15% lower, we will consider buying Santos (STO) around $6.50 or lower if this move unfolds – see chart 2a & 2b.
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