Viewpoint: Bullish
Growthpoint Properties Australia (GOZ) operates as a real estate investment trust. The Company focuses on office, residential, and industrial sectors. Growthpoint Properties Australia serves customers in Australia.
DOW +7.33%: The global contractor Downer was higher today after announcing it would buy back up to 10% of its stock.
Downer (DOW) provides engineering and infrastructure management services to the public and private rail, road, power, telecommunications, mining and resources sectors in Australia, New Zealand, Asia and the Pacific. Downer provides rolling stock services, drilling services for the exploration industry, mine planning and management services and highway maintenance.
MM has been watching the BBUS slowly edge lower as equities continue to trade to fresh all-time highs, however we feel the time has arrived to establish a bearish position.
Boat engine manufacturer BC has just come out with a new 7.6 litre, 600hp V12 Mercury outboard, for anyone interested in boating as I am, I’m sure you’ll appreciate what an absolute weapon of an engine this is and it speaks to one part of our investment thesis on this stock, being the obvious move towards outboard engines on larger vessels, a theme that is gaining significant traction in the US.
Uranium stocks have been in focus this year with many rising 3-fold in anticipation for a strong move in the uranium market.
The US Fear Index (VIX) continues to bounce along multi-year lows even as the S&P500 continues to post new all-time highs suggesting to MM that the risk / reward is finally on the side of a rally by the VIX index.
NIC was the worst performer on the ASX200 yesterday plunging over 12% following a 3rd quarter update – sales down 10% while earnings (EBITDA) fell almost 30% justifying the bad session in our opinion
I covered WHC with SHAW’s resources analyst Peter O’Connor yesterday – worth a listen but for the time poor his view remains that $2.50 is a real possibility over the next 12-months once the latest poor trading update is behind us.
TAH +4.17%: shares in the betting company were higher today on a revised bid for the wagering & media unit
