We are cutting our position in Iluka (ILU) for a small profit. We’ve turned more 50/50 on ILU in the short term and yesterdays rejection above $8 has prompted us to act.
MM are selling ILU in the Active Growth Portfolio, taking profit around $7.85
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We’re buying JB Hi-Fi (JBH) following yesterdays weakness. We think the market has overreacted on the downside, pushing JBH into our previously flagged buy-zone – risk/reward now looks attractive.
MM are buying JBH in the Active Growth Portfolio, allocating 4% around $57.25
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