The market trickles lower into the weekend (BHP)
The market ended lower today – with selling ticking in from near the open followed by a fairly mundane session to cap off the week, with the market continuing to trade in it’s very well defined range. The Utilities did best, Financials the worst for an overall range of +/- 32 points, a high of 5694, a low of 5661 and a close of 5672, off -17pts or -0.30%.
ASX 200 Intra-Day Chart
ASX 200 Daily Chart
Today I spoke with Peter O’Connor, Shaw’s well regarding Mining Analyst about the sector – specifically on BHP, Gold, and other opportunities in the space. Peter is the most bullish analyst covering BHP with a $33 price target, and we run through the rationale for such a bullish call. He’s a good analyst – has had a number of very good contrarian calls in the sector and we rate his opinion highly. Importantly, just like Market Matters, Peter tends to tread his own path and is not afraid to go against the grain…Worth a watch
Have a great night
The Market Matters Team
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