Trade ideas are provided as a guide only. Market Matters is not investing in these ideas as we do our other suite of portfolios available here. If trades are updated through the week, these updates will be advised in the morning note and will be flagged as an alert on the home page of the website. Separate emails or SMS messages will not be sent for Shawns Trade Ideas. The ideas are General in nature only.
As we said last week one of our favourite investment/trading philosophies is to buy quality companies when they get dragged down by broader negative news/moves and that could easily unfold over the coming weeks. China is the elephant in the room for the ASX with exports to the world’s second-largest economy accounting for over 8% of GDP, hence an already weak Chinese economy being damaged further is bad news for the likes of BHP, RIO and the indebted Australian Government. However, at this stage, the good news, if any, is that the 10% tariff on China isn’t as high as Trump had previously threatened. BHP and Rio are already in a tricky position as they run large operations in Canada.
Short Term Trade: Buy BHP at $35.50 with stops initially below $31.
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