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Afternoon report 17/09/2021 16:48

The Match Out: Iron Ore drags ASX lower, tech rallies, EQT walks from Iress (IRE) bid

The market struggled into the weekend with the heavy weights of the banks and resources stocks trading lower. Iron ore and coal names were hit hard by more aggressive rhetoric out of China as well as the threat of further cuts to steel production hampering the demand outlook. Banks followed the weakness while tech ran it’s own race to trade strongly higher.

Afternoon report 16/09/2021 17:06

The Match Out: stocks rally most since early August, Energy leads, Telstra outlines their T25 strategy

Energy stocks back in favour today underpinning strength in the broader market as 123 stocks in the ASX 200 finished up on the session delivering the markets best gain since early August. Consumer discretionary the only sector to finish lower while the materials were a mixed bag. Options expiry today always busy on the desk so a short & sharp note this afternoon.

Afternoon report 15/09/2021 17:26

The Match Out: Hump day ends down, Pilbara Minerals (PLS) hits all-time high, Calix (CXL) rallies ~40%

The market finished down today although the worst of it was seen before 11am - the ASX 200 down ~60pts at the lows before a spirited fightback saw it recoup 2/3rds of the early declines. Commodities + Energy the weak links today while another ~7% slide from AGL dragged down the Utilities sector. On the flipside Healthcare and IT did well although not well enough to make hump day a positive one.

Afternoon report 14/09/2021 17:19

The Match Out: RBA underpins ASX, Energy stocks rally 4%, Zip Co (ZIP) holds investor day

The ASX was down early however a more dovish speech from RBA Governor Philip Lowe got the buyers off the sidelines pushing the market higher by the close. Again it was the Energy stocks that led the charge – an impressive ~4% gain and the sector looks great for higher levels in the near term – we’ve flagged this for a while and it’s been stubborn – then again so was Uranium before it popped!

Afternoon report 13/09/2021 17:22

The Match Out: ASX enjoys ‘final hour of power’, Miners & Energy drives market higher, Uranium rips again

The final hour of power as one trader on Bloomberg put it this afternoon with the ASX rallying +25points to close up on the day driven largely by the Energy & Material stocks. Uranium stocks on fire again today and plenty of queries from subscribers around our sale of Paladin (PDN) last week ~95c, was it too early? Maybe but we’ll likely get another chance in the sector in MM’s view however volumes are huge – hot money now finding it’s way there.

Afternoon report 10/09/2021 17:06

The Match Out: ASX recovers, Resource stocks lead the way, Go the Sea Eagles!

The ASX bounced back tentatively today recovering a third of yesterday’s decent decline – most buying in the Material stocks supported by IT and Energy which suits MM’s current positioning – healthcare lagged. Overall, a good session to end a soft week.

Afternoon report 09/09/2021 17:22

The Match Out: ASX hit ~2%, Buyers of the dip had a day off, IT sector biggest drag

The market opened lower this morning and instead of buyers emerging into the dip we got the opposite with a consistent sell-off right across the market with 191 stocks from the ASX 200 closing lower on the day. All sectors finished in the RED however IT felt post pain down ~3%. Green was a scarce colour on the screen and aside from the VIX there were only two stocks that rose more than 1%, namely Resmed (RMD) & Whitehaven Coal (WHC).

Afternoon report 08/09/2021 17:15

The Match Out: ASX pulls back, Macquarie (MQG) rallies, Weekly Video Update

The market opened on the backfoot again this morning with Futures down ~60pts early before rallying from the lows–it’s been the playbook for the last week it feels, although today we did finish below the session highs. COVID continues to dominate the news flow, the bickering between the States is getting old, FFS we don’t need political BS to end a pandemic that has cost so many people & businesses so much.

Afternoon report 07/09/2021 17:10

The Match Out: ASX follows typical home schooling trend, closes marginally higher, Key calls from Peter O’Connor

The market continued to follow a very similar path to home schooling in the Gerrish house hold of late, the low set in the morning – perhaps deeper than most feared before a recovery plays out later in the session and we close at the high point of the day. Today that was up just 1pt for the ASX 200 as the market continues to consolidate it’s recent ~200pt pullback. As we highlighted this morning, the previous pullback back in June / July took 6-weeks...

Afternoon report 06/09/2021 17:18

The Match Out: ‘Buy the Dip’ alive & well, IT leads the way, Uranium remains hot

While a +5pt gain at the index level implies a lacklustre session, there was a lot happening under the hood + it was a major turnaround from early weakness which had the market hit a 7440 low before rallying unabated to close at 7528, a +88pt turnaround as the wall of money buys weakness. That is very typical of a strong market and while some will list all the entertaining reasons for a market top, the trend remains up and that’s all...