Australian Investment Blog

Afternoon Report 06/08/2014

Afternoon Report Wednesday 6 August 2014

Please see this week’s Market Matters video updates:

Market Update and Commonwealth Bank (CBA) 5th August 2014:

Stop losses on the current portfolio 5th August 2014:

It was a lacklustre day today, with the ASX 200 closing only 7 points lower to 5,512, ~8% above the daily average value turnover.

The standout for us today was the M2 Group (MTU) which closed up over 3% to $6.27 on large turnover.

Spotless Group (SPO) closed down 1.5c to $1.85, after being awarded a 6-year contract with the Department of Defence for the value of $200m. Technically, I would not trade this stock as it looks neutral to bearish targeting, $1.70 if it closes below $1.82.

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