Indices: Australian ASX 200

The ASX200 is set to open below 6500 this morning within striking distance of this year’s low, we remain keen buyers into the current weakness with a number of our previously flagged stocks reaching our optimum buy areas e.g. Seek (SEK) and GPT Group (GPT). When markets are falling aggressively we generally like to adopt an accumulation approach hence subscribers are likely to receive a few alerts over the coming weeks:

The ASX200 was smacked over 100-points on Wednesday as nobody wanted to go home long ahead of a 2-day break which included the FOMC meeting. We feel this uncertainty means the vast majority of any potential buying which may hit the market from the $18bn tsunami of recent dividends from the likes of BHP Group (BHP), RIO Tinto (RIO) and Telstra (TLS) is still waiting on the sidelines.