Q1 Ends in the Red – But Only Just
Some profit taking crept into the market today after a very solid March, and indeed a very solid Q1 2017 for Aussie stocks that has seen the market up by +3.51% for the quarter (up by +2.67% in March) plus we are entering the most bullish month for the market in April with a flood of dividends finding their way into investor pockets over the next few weeks. It seems fairly clear that ‘perceived value’ is finding most love with the stocks within strong sectors that have underperformed seeing most attention.
Bank of QLD (BOQ) an example of this in the last 2 trading days post a result that was below expectations, but importantly confirmed that they had no skeletons in the closet. Fundies flush with cash and more about to land through dividends have bought that stock aggressively in the last few days and it’s a good example of the type of stocks that will probably do well as this market is squeezed higher. We have a quite a few of these sort of stocks in our portfolio.
On the broader market today, we chopped around par for most of the session before the index took a schelacking in the last 10 mins…a range today of +/- 37 points, a high of 5901, a low of 5864 and a close of 5864, down -31pts or -0.53%.
ASX 200 Intra-Day Chart
ASX 200 Daily Chart
Watch out for the Weekend Report on Sunday
Have a great weekend!
The Market Matters Team
________________________________________
Disclosure
Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday.
Disclaimer
All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 31/03/2017. 4.35PM.
Reports and other documents published on this website and email (‘Reports’) are authored by Market Matters and the reports represent the views of Market Matters. The MarketMatters Report is based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distributions without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor. Market Matters or its author(s) accepts no responsibility for any losses or damages resulting from decisions made from or because of information within this publication. Investing and trading in financial products are always risky, so you should do your own research before buying or selling a financial product.
The Reports are published by Market Matters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
To unsubscribe. Click Here
