Short report – Market Matters Christmas party today
What Mattered Today
Another positive session for the ASX with index opening up and seeing reasonable buying… trading comfortably above the 5550 level. Another land mine blew up today with Sirtex (SRX) downgrading earnings by around 40% - just 6 weeks after publishing the following commentary at their AGM.
The double digit earnings growth has been the illusive bit and it seems more competition in the States has been to blame…We don’t own SRX and have no interest here, however, another example of a high PE stock , with BIG upside priced in and it fails to deliver – share price gets whacked!!!
Sirtex (SRX) Daily Chart
The Market Matters Christmas Party was on today – Jamie Olivers in the city…Great lunch, and although I’m bias, a great bunch of girls/guys. Have a great Weekend to all our Subscribers – the Weekend Report will be out Sunday.
We had a range today of +/- 25 points, a high of 5566, a low of 5541 and a close of 5561, up +16pts or +0.31%%. Volume slightly below (9%) the 20 day average.
ASX 200 Intra-Day Chart
ASX 200 daily chart
Sectors
ASX 200 Movers
Select Economic Data - Stuff that really Matters in Green 
What Matters Overseas
FUTURES mixed….
Disclosure
Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday.
Disclaimer
All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 09/12/2016. 5.00PM.
Reports and other documents published on this website and email (‘Reports’) are authored by Market Matters and the reports represent the views of Market Matters. The MarketMatters Report is based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distributions without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor. Market Matters or its author(s) accepts no responsibility for any losses or damages resulting from decisions made from or because of information within this publication. Investing and trading in financial products are always risky, so you should do your own research before buying or selling a financial product.
The Reports are published by Market Matters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
To unsubscribe. Click Here
