Morning Report Wednesday 13 August 2014
Are there any gems in the major company reports to-date?
With market heavyweights - Commonwealth Bank (CBA), CSL Ltd (CSL) and Suncorp (SUN) reporting this morning, let’s look at 4 reported stocks that have caught my eye over the last few days in order to identify some buying / selling opportunities. With the ASX200 trading within 2% of recent highs and my 2-year bullish view, the last thing a portfolio needs is a stock whose advance is maturing or about to fall. Recently, US investors have taken cash levels to 2 year highs on worries over geopolitical tension; I believe this reaffirms my view that any pullback will at some stage be bought aggressively and spring straight back. Cash levels are building, now at 5.1% in global portfolios compared to 4.5% previously, the “Fear & Greed Index” in yesterday’s afternoon report illustrates this caution perfectly.
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