Australian Investment Blog

Morning Report 13/06/2014

Morning Report Friday 13 June 2014

The ASX200 is down 150 points: opportunities are starting to emerge

The world Cup has kicked off with a predictable victory for Brazil after a nervous first half, I think we all wish the markets were as easy to predict. The ASX200 will open today approximately 150 points (2.7%) below recent highs, while I believe indices in general will correct further. Three local stocks are hitting my target zones after leading the correction significantly more than the market:

Fairfax (FXJ) has fallen 15.5% from highs of $1.065, I remain a buyer in the mid 80c region.

Flight Centre (FLT) has fallen 19.7%, I will be a buyer between $39 and $43.

Magellan Financial Group (MFG) has fallen 21.3% as we predicted a number of weeks ago. I am a buyer around $10.20 in coming days / weeks.

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