Sunset Strip | Aussie market continues to hold up despite geopolitical uncertainties and lack of any clear global lead

Sunset Strip | Aussie market continues to hold up despite geopolitical uncertainties and lack of any clear global lead. US data and US Fed remain supportive of the equity markets while we wait for the next instalment of China PMI...my guess is that it will be a very bullish number...given the track record is that it is always better than China HSBC Flash PMI. Fund managers are playing chicken with the market and signs are that they are beginning to fold after a cracker July. ACR is another heavily shorted biotech stock ...headed to $2 with some testosterone. Thursday's Thematic Pick: Telstra (TLS) Quant Buy $6.40. Trading idea of the day: Veda Group (VED)...going to $2.30. It is not hard to see why the shareholders of WPL are asking why are they taking the risk when Shell wants to get out...and may be they do have a point. (VIEW LINK)