Sunset Strip > Trading Day Wrap From Blue Ocean 20170707
Local market ran into a global selloff with investors worried about bond market worries. Apart from the miners, every other sector saw pain after similar selloff in the US market overnight. NASDAQ showing more weakness…already below 50 day MA and heading towards 100 day MA…last time it broke 50 day MA, we experienced high PE Industrial selloff…risk remains as yields rise!!! Take some profit in high PE growth stories and come back next month…three highest PE growth tech stories are ACX, WTC and NXT…all three have rolled over on macro worries…short term risk offers buying opportunity soon!!! The best performing sectors were Miners, REITs and Staples while the worst performers were Energy, Health Care and Retail. On the sector/stock front….(1) Chinese PE move into Lithium, Volvo into Electric cars and Tesla batteries for SA will keep battery tech commodities in play…PLS, SYR and GXY are our picks to benefit from short covering run (2) DRM continues to get smashed on mine suspension (3) IGO was smacked on the news that Indonesia will be back into Nickel (4) NXT was sold down on high PE growth stock profit taking.
Click here for the full report.
HOLIDAY BREAK
NEXT UPDATE ON 25th JULY
7 topics
9 stocks mentioned