Australian Investment Blog

• The ASX 200 continued to slide today, down 38 points (-0.6%) to 5908 and down 1% so far this week.• The banking sector led the broader market into the red sea, with Commonwealth Bank (CBA) shedding $1.36 (-1.5%) to $92.44 and Westpac (WBC) down $0.64 (-1.6%) to $38.92. We remain comfortable that we have reduced our bank exposure in recent weeks.• The Iron Ore sector bounced from yesterday’s underperformance. BHP Billiton closed 1.3% higher at $29.51 and RIO Tinto (RIO) up 1.6% to $55.83.• The major supermarkets continue to slide with Woolworths (WOW) down 0.7% to $29.00 and Wesfarmers down 1% to $43.35. We remain bearish this sector and discussed in previous reports.