Yesterday we took profit on WES in our Income Portfolio to increase cash levels, however worth remembering this is now a consumer discretionary stock after spinning out Coles with Bunnings making up more than 60% of their earnings. Simply, the risk / reward has shifted us into sell mode around $55 and we are comfortable with our move – a dip back under $50 and we could easily see ourselves re-enter.
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Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
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Performance for February & 4 stocks we like here and now
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Thursday 28th March – DOW up +477pts, SPI up +60pts
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MM is now neutral WES
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