Australian Investment Blog

WHAT MATTERED TODAY

Strength early but weakness late was the flow of trade today coming off the back of a very strong +7% rally yesterday. End of month and end of quarter with some book squaring obvious as the day progressed. This morning we took the opportunity to lighten a few stocks from the MM Growth Portfolio and now we have cash back up to around 17%, and a list of targets to acquire into weakness. Flexibility in this market remains key so expect more activity across our portfolio’s in the coming weeks.

I’ve done a quick recording (6min) below which sums up the trade for the 3 months to March 31, the ASX down 24% over the period.

Today the ASX 200 fell -104pts /-2.02% to close at 5076 - Dow Futures are trading down -86pts/-0.39%

ASX 200 Chart

ASX 200 Chart

CATCHING MY EYE:

BROKER MOVES:

• Woodside Raised to Buy at UBS; PT A$22.60
• Scentre Group Raised to Neutral at UBS; PT A$1.53
• Star Entertainment Raised to Buy at UBS; PT A$3
• Crown Resorts Raised to Buy at UBS; PT A$9.15
• Challenger Raised to Buy at Citi; PT A$5.45
• Autosports Cut to Neutral at Macquarie; PT A$1.10
• SG Fleet Cut to Neutral at Macquarie; PT A$1.85
• Brambles Raised to Overweight at Morgan Stanley; PT A$13
• Insurance Australia Raised to Hold at Shaw and Partners
• Blackmores Cut to Hold at Morningstar
• Wesfarmers Cut to Sell at Morningstar
• GUD Holdings Cut to Hold at Morningstar
• Atlas Arteria Cut to Hold at Morningstar
• Ansell Raised to Buy at Citi; PT A$34.50
• Macquarie Group Raised to Overweight at JPMorgan; PT A$112
• Ansell Raised to Neutral at JPMorgan; PT A$28
• Challenger Raised to Neutral at JPMorgan; PT A$4
• Ansell Raised to Outperform at Credit Suisse; PT A$32
• Stockland Raised to Positive at Evans & Partners Pty Ltd
• WiseTech Cut to Sell at Bell Potter; PT A$13.50
• Ardent Leisure Raised to Buy at EL & C Baillieu
• RAP AU Raised to Speculative Buy at Morgans Financial Limited

OUR CALLS

This morning we made some amendments to the Growth Portfolio

Sold JHG, reduced BPT, WBC, NWH, EHL while we bought STO

Major Movers Today

Have a great night

James, Harry & the Market Matters Team

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