Australian Investment Blog

Morning Report 18/03/2015

Morning Report Wednesday 18 March 2015

A massive individual share move as the ASX200 ponders direction

The ASX200 is trying to make me look good and rally but there are some headwinds at present, primarily the resources sector. As I said yesterday I will get very bullish Australian equities on a close over 5875 with a stop back under 5850 – see chart 1. The banks remain extremely strong and I feel extremely confident that 3 of the Big “4 Australian banks” will make fresh all-time highs shortly.The main story of yesterday was unfortunately that of disappointing company news from Sirtex (SRX). Let’s consider the market reaction and compare it to other large company share price moves on “news”.

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