Morning Report Monday 2 March 2015
** The People’s Bank of China (PBOC) cut its interest rates over the weekend by 0.25%, a potential lift in the ASX200 today and ahead of RBA’s interest rate meeting tomorrow.**
Woolworths plummets again, do we catch the falling knife? – Part 3
We start the new month revisiting our previous reports, with the large Australian supermarket chains again drawing attention for all the wrong reasons on Friday. Late last year (click here for previous report), I was both technically and fundamentally bearish the major supermarket chains and this has proven very accurate. Over the Last 3 months the ASX200 has rallied 12.2% but Woolworths (WOW) is down 1.3%, Wesfarmers up only 5.9% and Metcash (MTS) is down a huge 39.9%.
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