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:
- No change, we still believe equities are likely to be trading in the 6400-7100 range over the next 6 months.
- We remain a buyer of the current weakness until further notice as we look to migrate MM’s portfolios back up the risk curve.
- As a recession becomes the market’s main concern we should see improved performance from the rate-sensitive names but some value names are likely to struggle.
MM remains bullish the ASX200 into Christmas
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