Viewpoint: Bullish
We’ve occasionally been bagged at MM for not being unwavering disciples of CSL, criticism we believe is unfair as we haven’t knocked this business just the share price from a valuation perspective i.e. I can argue that the stock remaining 11% below its 2020 is testament to our price concerns. Discussing this healthcare goliath I have recently found myself describing…
Sleep disorder business RMD is slowly recovering from its 16% correction from a late September high, yesterday’s rally took it back within striking distance of its October high and we remain positive targeting fresh all-time highs into 2022. We own RMD in our Flagship Growth Portfolio.
CBA corrected over 16% from its mid-November high as the Australian Banking Sector revealed increased margin pressures. CBA has a history of regaining investors confidence and we wouldn’t be surprised to see another test of the $110 area into 2022 but we believe the time to carry an aggressively overweight banking exposure has passed. Interestingly the…
The ASX200 roared higher on Wednesday, “hump day” to many but traders often refer to it as “drive day” as the market finally decides where it’s headed, this time the market enjoyed broad based buying with over 80% of stocks closing in positive territory, the index scaled fresh 3-week highs as Omicron fears seemed to vanish almost as fast as they…
The $A has bounced strongly over the last 24-hours even with a firm $US and a restrained RBA i.e. a market that can rally without good news is a strong market. The $A is obviously a commodity based currency and our bullish outlook into 2022 lends weight to MM’s positive reflation view moving forward.
US stocks enjoyed another strong session overnight and suddenly our call for fresh highs feels almost pedestrian in nature.
The tourism and travel stocks have bounced back to life in a big way following the initial Omicron scare, we think that CTD might be offering a useful road map for the ASX over the coming weeks / months – we are bullish CTD targeting another 10-15% upside, this should give us a useful read through on our position in Qantas (QAN) and the market…
The BOQ surged over 4% yesterday following a positive trading update at their AGM, it makes a welcome respite for shareholders after the stocks 23% correction since early October:
Tuesday saw the ASX200 rally strongly finally closing up just shy of 1% on broad based buying with strong gains enjoyed by most pockets of the market, however the standout performances largely came from stocks who were whacked in previous sessions around Omicron fears, as we’ve said over recent days the new variant emanating from South Africa…
Yesterday lunchtime MM was delighted to present our December webinar : “Pitch your play” where we had 8 prominent analysts pitch their favourite play for 2022, we’ve already witnessed in 2021 plenty of stocks both rally and fall over 20% illustrating the need for solid stock selection to add optimum portfolio returns e.g. I’m sure not many analysts called…
