The ASX200 continues to enjoy an extremely strong start to 2023 with heavyweight names like Commonwealth Bank (CBA) and CSL Ltd (CSL) crushing the bears e.g. year-to-date they are up +8.3% and +9.1% respectively.
- No change, we are still looking to slowly de-risk over the coming weeks, although a break to all-time highs is still a distinct possibility i.e. patience is a virtue.
- We remain buyers of weakness and sellers of strength this year although as opposed to 2022 we are now more skewed to the buy side.
Most importantly MM believes that 2023 will be another year where stock/sector rotation adds the most alpha/value to a portfolio as opposed to attempting to 2nd guess where the ASX will end up come Christmas.
MM remains cautiously bullish on the ASX200 into February
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