Morning Report Monday 14th March 2016
Good morning everyone and I hope you all had a great weekend… Overview Last Monday we discussed the underperformance of the Healthcare Sector and this has continued as our overall market view has unfolded. The ASX200 gained 1.5% last week, led by the banks, while the Healthcare Sector struggled to be positive, finally gaining 0.3%. Our short term positive market stance has materialised and, not surprisingly, this counter trend advance has been led by the underperforming / heavily shorted stocks. Hence, recent positive sentiment has largely ignored the Healthcare Sector in turn creating some potential opportunities. The Healthcare Sector as a whole remains positive targeting fresh all-time highs BUT we would still advocate taking profit into this strength; so any buying is short term.
Show more...
