Afternoon Report Monday 29 September 2014
It was a choppy session today with the ASX 200 closing 45 points lower at 5,258, led both by the banking and resources sector.
The selloff was stemmed from our Asian counterpart, Hong Kong, with the futures currently off 552 points at 23,102 due to the current protests wanting a full democracy from China.
Bank of Queensland was outperformed the major banks, closing 6c higher at $11.61. As mentioned to Subscribers, we purchased 1/3 of this stock into panic, as the stock approaches our buy target area.
Treasury Wine (TWE) sold off today; closing 42c lower at $4.50 after announcing it has ceased takeover talks with other another party.
We continue with our bearish tone, as mentioned this morning, with buy targets of certain stocks trading close to the levels.
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