Market Matters Positions / Market Matters Stock Positions Friday 9th September 2016

By Market Matters 09 September 16

Market Matters Stock Positions Friday 9th September 2016

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Market Commentary

Banks; We’re overweight the banking sector and this week we felt some pain. Our rationale continues to be around relative value, and importantly the positive technical picture playing out in US banks. We will look to sell into strength, but that’s not prevailing as yet.

Interestingly, Banks are usually very well supported following index options expiry in September. Over the last 5 years, the average return from the third week in September to the end of December is 5.9%.
Origin Energy (ORG); News today that long-term CEO Grant King is leaving, being replaced by Frank Calabria should be taken well by the market. ORG has had a tough period in the last few years and a lot in the market think that Grant King should have left some time ago. Stock rallying +5%
ispretty clear indication. We’re still targeting $6.20

All figures contained from sources believed to be accurate.  Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy.  Prices as at 9/09/2016. 5:00PM.
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