Morning Report Wednesday 25 November 2015
Equities are looking solid as we enter the historically very strong seasonal period between the end of November and start of January. However after a strong 300 point rally over recent days finding decent risk / reward opportunities is clearly becoming tougher. Also, it should be remembered that Market Matters have been calling a top for US stocks in Q1 of 2016 so positions taken now are likely to be shorter term in nature.Below we have looked at three opportunities where we like both the stocks and trading risk / reward:
Crown has had experienced a tough year falling almost 16% especially due to China clamping down on the "Junket" side of Macau gambling.
However, this looks to be built into the lower stock p[rice and Jamie Packer increasing his holding to the stock is a good sign of no short term problems for the company.
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