Author: james Carter
**Yesterday we bought Flight Centre (FLT) in the market; please let us know if your email / phone text failed to come through as I was buying.**
There was broad based buying in the ASX 200 today, closing 62 points higher to 5,464, significantly stronger than we thought, with Westpac (WBC) closing up 60c to $34.43, RIO +83c to $59.90 & Telstra (TLS) +6c to $5.23.
Yesterday, we looked at the worst 5 stocks in the ASX200 for the last financial year, today it’s the next worst 5 with 2 noticeably stocks coming from the battered mining services sector and one from retail. Not surprisingly, a boring bunch of stocks but one good risk reward opportunity may arise if we get accelerated selling into financial year end.
The ASX 200 followed the weak lead from US markets, closing down 31 points to 5,402 after trading as low as -54 early in the session.
**Kathmandu Holdings (KMD) downgrades its earnings forecast down 10-15% below FY13 earnings. Another retail disappointment.**
The ASX 200 closed 20 points weaker, with the banking sector contributing to most of the weakness e.g. ANZ closing down 1.1% to $33.62.
Domestic Telco stocks have rallied well: is time to take profits?
The ASX 200 flew out of the stables early, trading as high as +49 points, drifting back in the afternoon session to close +27 points at 5,447.
The ASX200 rallies 85 points: Am I wrong & are we going up?
The ASX 200 closed on its lows today, down 49 points to 5,420, with the banking sector weak on the back of this morning’s SMH article “Secret trade negotiations: is this the end of the big four?”
Really bullish, there's more to go in the reflation rally
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