Following our recent survey, MM will make a few tweaks to our reports, one of which is the evolution of the crypto commentary to a “Trade of the Week” section, something we had in the past. We may at times include a trade on Bitcoin here, but we reiterate that MM does not invest in the crypto space, we monitor it as a sign of risk appetite and liquidity.
- This section will now highlight a trade of the week, covering a stock we can see throwing up a short term trading opportunity;
Over recent months, we’ve regularly been asked when is it time to buy Woodside (WDS); for a while, we thought $28 would hold the correction, but the lack of macro drivers saw us pull back and even pull the energy play from our Hitlist. However, while we are not planning to buy WDS, we can see it bouncing at least 15% if we see a panic spike to fresh 2 ½ year lows, plus an attractive dividend is on offer in September for the brave.
- We like the risk/reward for WDS if/when we see a drop to new lows ~$26, i.e. only 3-4% lower.
