18 August 19
Market Matters Weekend Report Sunday 18th August 2019
18 August 19
Market Matters Weekend Report Sunday 18th August 2019
16 August 19
Phew - a big week comes to a close (TLS, OML, COH, NCM, SGR, HLS)
16 August 19
5 stocks we are considering into the current market panic & a word on recent performance (BIN, ALL, MQG, OZL, APX)
15 August 19
Not a good day to miss earnings expectations – market falls 2.85% (TLS, BKL, TWE, SUL, WPL, WHC, ORA, CWY)
15 August 19
Should we buy more gold stocks as volatility increases? - (CSL, EVN, GDX, MFG, NCM, NST, PGH, RSG, SAR)
14 August 19
A mixed day on the reporting front (PGH, CSL, NAB, TAH)
14 August 19
Income Report: Are we finding income opportunities amongst Hybrids? (NAB, TAH)
14 August 19
Overseas Wednesday – International Equities & ETF Portfolios (MFG, COH, CYB, BABA US, 700 HK, 2318 HK, SH US, TYU9, GOVT US)
13 August 19
Magellan to raise capital for future growth after reporting strong result (MFG, CGF)
13 August 19
Keep your fingers on the pulse, there’s lots going on (JBH)
Australian reporting season is now behind us and with around 70% of stocks having already traded ex-dividend the ASX200 is back to business as usual. The market amazingly has now been in a trading range of 5600 to 5800 for the last 10-weeks, it certainly doesn't feel like it. While US stock have enjoyed a great start to 2017 gaining 5.9% year-to-date the story locally has been far more muted with gains of only 1.1% during the same period. Last week the ASX200 fell marginally with the Banks / Financials and Healthcare Sectors remaining firm but Retail / Energy and Gold stocks had a tough time. With US stocks due for a rest, not a fall, it's hard to envisage this trading range being broken in early / mid-March.
Our focus in today's report will be on the big picture i.e. how far can stocks rally before a decent correction, how long this is likely to take and which sector (s) could for example take the ASX200 well over the psychological 6000 level.
For a local short-term view we continue to focus on the ASX200 March futures contract (SPI) and while it remains over 5650 we are bullish, a break of this level is likely to see a quick 100-point fall.
Share Price Index (SPI) 60-minute Chart
For the ASX200 to break well over 6000 there is no doubt in our minds that the banks will need to do much of the heavy lifting, which is not surprising as they are around % of our index. Global banks have performed very differently since the end of the GFC:
1. Australian Banks - Our banks are sitting 155% above their panic GFC lows but still 14% below their all-time highs of two years ago.
2. American Banks - US banks are 551% above their GFC lows when Lehman Brothers collapsed but are still around 25% below the overall indexes all-time high. However, some big names like Goldman Sachs and Wells Fargo have very recently achieved this milestone since Donald Trump's victory in November. Conversely Bank of America continues to languish over 50% below its high of 2006.
3. European Banks - Banks in the EU have been under significant pressure, well after the GFC, with UBS still 30% below its 2015 high and Deutsche Bank a very painful 90% below its pre-GFC highs.
Interestingly around 20-mins before the US closed on Saturday morning Deutsche Bank announced its considering a capital raising of EU8bn, this is clearly a large raise and may cause some initial selling in banks globally as fund managers put aside some money to buy the DBA stock which is likely to be issued at a reasonable discount to Fridays close. However for those who follow European banks DBA is cheap, it trades on 50% of its book value compared to UBS on 1.3x, BNP Paribas on 0.9x and our own CBA on over 2.4x. Our initial thought is this is likely to be a catalyst for European banks to rally in 2017.
Returning to the local banks which certainly have fared excellently compared to many of their global equivalents, people who continually "bash" our banks should remember that they are arguably the main reason we avoided a recession post the GFC. While world economies continue to improve and Australian property defies its numerous sceptics our banks should remain strong - CBA is trading on an est. P/E of 14.8x and yields 7.2% grossed up, not at particularly cheap, or scary levels. It's amazing how many people are now experts on why property will fall in Australia, often the same people who thought share-markets would collapse if Trump won the US election!
We remain comfortably overweight Australian banks and financials especially as they are usually seasonally very strong into late April. Our ideal scenario would be to trim holdings into strength in say 6/7 weeks time e.g. Macquarie Bank over $90.
Finally, for the ASX200 to reach say 6200 it's a gain of ~8%, while its hard to currently see our banks rally over 15% to fresh all-time highs anything is possible and another 5% feels easily achievable. If our financials can gain ~5% the ASX200 is likely to be challenging 6000 minimum. Remember our target for Suncorp (SUN), the largest MM holding, is at least 15% higher so as we like to say "keep open-minded".
ASX200 Financial Index Quarterly Chart
Another very influential sector locally is the Healthcare Sector and again the lead we are receiving from the US is very encouraging, with our long term target slowing coming into play, around 7% above current levels. This should again assist the ASX200 eventually break over 6000.
We currently hold ANN, CSL and RHC within the sector and are more likely to add to these positions than sell at current levels.
Also while we have been short-term negative resources looking / hoping for lower levels to buy the likes of BHP and RIO we are bullish medium term targeting fresh highs for 2017. That would be a ~20% advance for RIO for example, if that was consistent across the sector it would give the ASX200 a huge lift.
US Healthcare Sector Quarterly Chart
Lastly, moving onto the US which is clearly the most influential global stock market over the long-term. Last week we raised our ultimate target for this bull market by ~2%, today we want to reiterate a few points and make some new ones:
1. This current rally in US stocks has been underway for year, the first phase from the panic GFC lows took ~ 2-years prior to a 20% correction. Hence we would not be surprised if the current rally by US stocks did not squeeze into 2018.
2. US stocks have just enjoyed a multi-day advance which has many pundits calling for a sell-off. Statistically they are wrong, these strong advances are usually excellent buy signals if we look say 6-months ahead. As we pointed out in last weeks report a RSI breaking over 75 is a bullish signal - see the following chart.
3. We still believe US stocks will advance another 8-10% before a major correction. Hence we will look to buy the next 5% pullback in coming months which is likely to be from higher levels.
So let's "Keep it Simple Stupid" (KISS) US stocks are likely to head higher over 2017 and even if we continue to underperform Australian equities will need some pretty poor domestic news not to embrace some of this positive sentiment.
It was not long ago that a major broker came out and said " Sell Australian equities", investors who followed that advice have now missed out on ~10% of gains, plus dividends, while struggling to get over 3% in the bank. There will be a great time to sell equities and move to cash but we believe it's still on the horizon - be patient! The more negative commentary we hear on property, shares, Trump etc the higher we feel stocks can squeeze - the path of most pain.
US S&P500 Weekly Chart
Standout technical chart (s) of the week
Many investors keep asking us when is it time to buy / average their Telstra (TLS) position. Our current reply is simple - not until we feel the market is due for at least a 5% downturn then TLS will probably get a safety bid.
Simply put, we have no interest in TLS even though it has corrected over 50% of its last rally.
Technically TLS can easily dip under $4.20.
Telstra (TLS) Monthly Chart
We continue to believe that US and local stocks extend recent gains well into 2017, and potentially 2018. Ideally in the local market we will see our targeted correction in the resources sector to play out before the overall index is likely to again push higher.
On balance we believe the ASX200 will break over 6000 in 2017.
What Matters this week
The ASX200's is set to open up 10-points on Monday, short-term we need a break of 5650 by the March SPI to lose our net bullish view for the overall index.
Potential Investing opportunities for the coming week(s)
We are likely to be quiet this week unless BHP, RIO or FMG fall into our buy zones i.e. another 4% lower
Potential Trading opportunities for the coming week
We unfortunately again see no obvious trades locally this week but we do still like our short FMG position and VOC / TPM feel like they have bottomed for now. However for the active player when MM buy the resources sector as an investment traders can also be buyers.
Patience is a virtue with trading and the next 1-2 weeks feel more like a time for the investors - but you never know!
Portfolio / Trade Holdings
The Market Matters Portfolio as of the 3rd March 2017 is below:
We still hold 18.5% in cash, plus we own a short FMG trading position via options and long TPM trading position. We remain buyers of weakness in resources moving forward.
The ASX200 could easily break well over 6000 in 2017, if the banks come to the party, before the significant correction we are targeting unfolds over the coming few years - the key remains to be open-minded.
March has kicked started with some fairly wild swings and short-term things are a little unclear.
Chart 1 – ASX200 Monthly Chart
Chart 2 – ASX200 Weekly Chart
Chart 3 – ASX200 Daily Chart
Chart 4 – March Share Price Index (SPI) 60-mins Chart
American & Canadian stock market indices
US stocks continue to rally and have now surged over 17% since Donald Trump's victory with the all major indices making fresh all-time highs. We remain long term cautious on stocks, our best "guess" at present is now ~8-10% higher i.e. last weeks slight revision upwards feels on the money at present - remember be flexible.
Importantly US indices are in a very clear final "Phase 5" of a major bull market since early 2009. We see further upside in what should be a relatively choppy / volatile year prior to a painful major downturn that is likely to last a few years and correct ~25%.
Chart 5 – Dow Jones Index Monthly Chart
Chart 6 – Dow Jones Index Daily Chart
Chart 7 – S&P500 Index Monthly Chart
Chart 8 – S&P500 Index Weekly Chart
Chart 9 – Russell 3000 Quarterly Chart
Chart 10 – NYSE Composite Index Monthly Chart
Chart 11 – Russell 2000 Index Monthly Chart
Chart 12 – US NASDAQ Index Monthly Chart
Chart 13 – The Canadian Composite Index Monthly Chart
European stock market Indices
No change, European indices have broken out to the upside and technically are bullish with targets for the German DAX of ~+10% and Swiss SMI ~+15% - potentially fund managers that have been caught overweight cash look to be searching for value in previously weak markets. However, on a fundamental basis we may need to wait for some election result clarity later in the year that do not favour extremists for most of this strength to unfold.
Chart 14 – Euro STOXX 50 Index Monthly Chart
Chart 15 – UK FTSE Index Weekly Chart
Chart 16 – German DAX Index Monthly Chart
Chart 17 – Swiss SMI Index Quarterly Chart
Chart 18 – Spanish IBEX Index Monthly Chart
Asian & Emerging stock market indices
Asian indices remain bullish with the Hang Seng index looking poised to rally ~6% while the Nikkei closing over 17,500 is extremely bullish targeting ~22,000, again over 10% higher. Similarly the Emerging Markets remain in a positive uptrend, generating no sell signals, even after another poor week.
Chart 19 – Hang Seng Weekly Chart
Chart 20 – China Shanghai Composite Index Weekly Chart
Chart 21 – Japanese Nikkei 225 Index Monthly Chart
Chart 22 – Emerging Markets MSCI ETF Weekly Chart
Interest Rates & volatility
Short-term interest rates in the US have moved sharply higher since the Trump election win, the move has been assisted by the Fed forecasting 3 interest rate rises in 2017 plus strong wages growth fuelling inflation fears - markets are now expecting the first of this interest rate rises this month.
Beware, we believe this move higher for interest rates has only just commenced, however short-term we can see a little further consolidation at current levels e.g. Australian 3-year bonds have reached the psychological and technical 2% support area i.e. a 98.00 bond price.
Chart 23 – Australian 3-year bonds Weekly Chart
Chart 24– The US 10-year Interest Rate Monthly Chart
Chart 25 – The US 2-year Interest Rate Monthly Chart
Chart 26 Volatility (VIX) Index Weekly Chart
Australian stocks & sectors
The Australian stock market fell 0.1% last week, again ignoring a positive US and European markets and moving more in step with both Asia. The local weakness had no major standouts plus a number of our large cap stocks went ex-dividend putting natural short-term pressure on the index.
The local banking sector remains strong which makes sense as it becomes more profitable as interest rates rise plus and Donald Trump considers removing onerous / costly regulations - the Dodd-Frank reform. Recent strong reports from both ANZ and CBA have help support the local sector.
Chart 27 ASX200 Banking Index Monthly Chart
Chart 28 US S&P500 Banking Index Monthly Chart
Chart 29 – Commonwealth Bank (CBA) Quarterly Chart
Chart 30 – Commonwealth Bank (CBA) Daily Chart
Chart 31 – ANZ Bank (ANZ) Weekly Chart
Chart 32 – Westpac Bank (WBC) Weekly Chart
Chart 33 – National Australia Bank (NAB) Weekly Chart
Chart 34 – Bank of Queensland (BOQ) Monthly Chart
Chart 35 – Bendigo & Adelaide Bank (BEN) Weekly Chart
The Insurance sector
We remain bullish and comfortably long SUN and QBE within the insurance sector. QBE has enjoyed a strong move with the $US and rising interest rates, further consolidation feels likely short-term.
Chart 36 – Suncorp Group (SUN) Monthly Chart
Chart 37 – Insurance Australia (IAG) Monthly Chart
Chart 38– QBE Insurance (QBE) Monthly Chart
Diversified Financials sector
The Financials Index remains bullish, our target is over ~10% higher, CGF has been leading the way over recent weeks/ months.
Chart 39 – ASX200 Financials Index Quarterly Chart
Chart 40 – Macquarie Group Ltd (MQG) Monthly Chart
Chart 41 – Platinum Asset Management (PTM) Daily Chart
Chart 42 – Henderson Group (HGG) Weekly Chart
Chart 43 – Challenger Ltd (CGF) Monthly Chart
Chart 44 – IOOF Holdings (IFL) Monthly Chart
Resources / Materials sector
Copper remains in a negative downtrend long-term, even after the recent months fireworks, we are eventually targeting the 150 area.
Iron Ore has significantly exceeded its technical "abc" target of ~$US80/tonne leaving us neutral at present. Importantly the forward prices for iron ore are in a pronounced backwardation e.g. The February 2020 price is trading at a whopping 40% beneath today's price.
NB Backwardation - A situation in which the spot or cash price of a commodity is higher than the forward price, generally associated with short-term supply shortage. Contango is the opposite scenario.
Heavyweights BHP and RIO look still positioned for a little further short-term consolidation / weakness. We are holding a trading short position, via options, in FMG.
Chart 45 – Copper Monthly Chart
Chart 46 – Iron Ore Monthly Chart
Chart 47 – BHP Billiton ADR ($US) Monthly Chart
Chart 48 – BHP Billiton (BHP) Weekly Chart
Chart 49 – RIO Tinto Ltd (RIO) Weekly Chart
Chart 50 – Fortescue Metals (FMG) Weekly Chart
Chart 51 – Independence Group (IGO) Weekly Chart
Our target for Crude Oil of +$US60/barrel remains a real possibility after the last OPEC decision and the close over the $US52/barrel area. Our main concern for the energy stocks is the overall optimism in the market. Recently we took an excellent profit on our Origin position which has now fallen over 14% from this year's high. We remain comfortable square the sector for now.
Chart 52 – Crude Oil Monthly Chart
Chart 53 – Woodside Petroleum (WPL) Monthly Chart
Chart 54 – Origin Energy (ORG) Weekly Chart
Chart 55 – Oil Search (OSH) Weekly Chart
The Gold sector
Gold had a bad mid-2016 as it fell hard on the anticipation of rising interest rates in the US, but gold has recovered well rallying ~$US135/oz from its December low.
We believe there will be some excellent trading opportunities in 2017 within the gold sector primarily on the long side as we continue to look for a major top in the $US.
Chart 56 – Gold Monthly Chart
Chart 57 – Newcrest Mining (NCM) Monthly Chart
Chart 58 – Regis Resources (RRL) Weekly Chart
Chart 59 – Evolution Mining (EVN) Daily Chart
Chart 60 – Market Vectors Gold ETF Monthly Chart
The "yield play" stocks
We have been bearish bonds / bullish interest rates since mid-2016 and this view has not wavered. Hence we will only consider buying the "yield play" stocks as a trade when they are under severe pressure, as we did in late 2016 with both Transurban (TCL) and Westfield (WFD).
Chart 61 – Sydney Airports (SYD) Monthly Chart
Chart 62 – Transurban Group (TCL) Monthly Chart
The Property sector
A confusing picture short-term with the overall sector remaining mildly positive at current levels which theoretically contradicts our higher interest rates forecast. Hence we will avoid the sector in 2016 except WFD as an aggressive play if an opportunity arises under $9.
Chart 63 – Westfield Corp. (WFD) Monthly Chart
Chart 64 – Mirvac Group (MGR) Monthly Chart
Food & retailing sector
Some conflicting signals are now unfolding within the sector, we believe it's best to avoid these stocks for now.
Chart 65 – Wesfarmers Ltd (WES) Weekly Chart
Chart 66 – Woolworths Ltd (WOW) Weekly Chart
Chart 67– JB Hi-Fi (JBH) Monthly Chart
Chart 68– Harvey Norman (HVN) Monthly Chart
The internet / Technology sector
The Australian Tech. sector had a relatively tough 2016, we may have interest this year but still only into further weakness.
Chart 69 – Seek Ltd (SEK) Monthly Chart
Chart 70 – REA Group (REA) Monthly Chart
Chart 71 – Carsales.com (CAR) Monthly Chart
The Telco sector
The Telco sector endured an awful 2016 falling ~20% after spending many years in the limelight. Changes within Broadband have made it extremely tough to value stocks within the sector which helped create the panic selling in both Vocus and TPG Telecom.
Telstra then had a shocking result recently sending the sector down 5.3% that week. However, VOC then had a solid result last week which helped support both it and TPM, but TLS remains under pressure and has corrected well over 30% since its 2015 "yield chasing" high.
Chart 72 – Telstra Corp. (TLS) Monthly Chart
Chart 73 – Vocus Communications (VOC) Weekly Chart
Chart 74 – TPG Telecom (TPM) Weekly Chart
The Healthcare sector
After being the perfect place to be invested since the GFC last year we saw some clear "wobbles" within the sector as bond yields rose and excessive valuations, without clear growth / performance, were no longer tolerated by investors. We now see higher levels from the sector in the months ahead led by the S&P Healthcare index which enjoyed a great February.
CSL has shown us how a stock performing well in this sector can rally strongly, in its case to fresh all-time highs.
Chart 75– US S&P500 Healthcare sector Quarterly Chart
Chart 76– CSL Ltd (CSL) Monthly Chart
Chart 77 Ramsay Healthcare (RHC) Monthly Chart
Chart 78– Healthscope (HSO) Weekly Chart
Chart 79 - Ansell (ANN) Monthly Chart
Chart 80 - Sirtex Medical (SRX) Weekly Chart
Chart 81 - Cochlear Ltd (COH) Monthly Chart
The Gaming / Tourism sector
This sector had a volatile an overall pretty average 2016. However, we currently like Star City (SGR) targeting ~$5.50 minimum - note MM holds SGR.
Chart 82 – Crown Resorts (CWN) Monthly Chart
Chart 83 – Star Entertainment (SGR) Weekly Chart
Chart 84 – Mantra Group (MTR) Daily Chart
The China speculative sector
Significant wealth has been destroyed in this area over recent times as crazy valuations came down to earth with a horrendous thud. Bellamy's return after suspense confirms our current view that it's simply all too hard! These stocks are very hard to value and importantly will take a long time to regain investor confidence.
Chart 85– Bellamy's (BAL) Daily Chart
Chart 86– Blackmore's (BKL) Monthly Chart
Australian Dollar (AUD) / FX Markets
The $A is trickly at present but we are comfortable with our eventual target of the ~65c region but an initial test of 82c first feels highly likely.
The $US remains firm after Donald Trump's election victory as the market adjusts for higher US rates. We have been targeting ~105 but short-term feel the bullish $US view is becoming extremely crowded hence any rally is likely to lack strong momentum and encounter selling from these positioned longs.
Chart 87– Australian Dollar (AUD) / FX Monthly Chart
Chart 88– The $US Index Monthly Chart
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 4/03/2017. 2.00PM.
Reports and other documents published on this website and email (‘Reports’) are authored by Market Matters and the reports represent the views of Market Matters. The MarketMatters Report is based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distributions without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recomm
Financial Services Guide
Date prepared: Wednesday, 22 November 2017
Last update: Friday, 23rd April 2019
About this Financial Services Guide (FSG)
This FSG provides you with key information about a range of subscription services offered by:
Marketmatters Pty Ltd (Market Matters) Australian Financial Services Licence No. 488798 ABN (20 137 462 536)
Level 29, Chifley Tower, 2 Chifley Square Sydney 2000
T: 1300 301 868
E: [email protected]
In this FSG, “we”, us” and “our” refer to Market Matters.
Market Matters holds Australian Financial Services Licence No. 488798 (AFSL) and is responsible for any financial services that we provide to you.
This AFSL was issued on 8th September 2016.
The purpose of this FSG is to provide you with information about:
Market Matters operates a website, www.marketmatters.com.au (Website), where customers may, for the payment of a subscription fee, access certain financial information and general advice. In particular, the Website provides:
This FSG relates only to the Website Services.
What financial services we can offer in connection with the Website Services
As holder of AFSL number 488798, in connection with the Website Services we are authorised to provide general financial product advice to both retail and wholesale clients in relation to the following financial products:
The Website Services are comprised of general advice only. That is, none of the advice given on the Website or by provision of the Website Services takes into account any of your objectives, financial situation or needs (Your Personal Circumstances). Before acting on any of the information, advice or Website Services, you must consider the appropriateness of this information in light of Your Personal Circumstances and, if necessary, consult a financial adviser before making any investment decision.
If you are seeking to acquire a specific financial product or security, you should obtain a copy of and consider the Product Disclosure Statement or Prospectus for that product before making any investment decision.
The Website does not provide a trading platform or access to a trading platform. There is no ability to purchase or sell financial products through the Website.
How do I access these services?
You can access these services by going to www.marketmatters.com.au and following the prompts and steps required to sign up for membership. Please read all terms and conditions carefully.
Fees and benefits payable to us and our associates
The Website is a subscription-based service. A yearly fixed subscription fee is payable to Market Matters when you subscribe to the Website which will vary depending on the type of subscription for which you subscribe. At the date of this FSG, the yearly subscription fees are as follows:
Platinum: $1,238 for 12 months
Platinum: $1,993 for 24 months
Subscription fees vary from time to time and are provided on the Website.
The Website does not currently feature third party advertising. Market Matters reserve the right to advertise at a future time for which they may receive remuneration. Any such advertising will be independent of any other content on the Website.
All representatives of Market Matters (Market Matters Staff) receive a salary paid by Market Matters. Market Matters Staff may also receive performance-based bonuses which are based on profitability, the number of subscribers and subscription renewal rates.
How do we manage potential conflicts of interest?
Market Matters have implemented policies and procedures to mitigate the risk of conflicts of interest. These include:
Market Matters Staff and Contributors are encouraged to express independent views and opinions on the topics they write about. This is established through ongoing training, external audits and our conflict of interest and staff trading policies. Market Matters Staff are required to serve the best interests of the subscribers, without consideration of any commercial or personal interests.
How is my personal information dealt with?
If you have a complaint about our services, you should take the following steps:
Contact us and discuss the complaint directly. If you do not feel comfortable discussing the complaint with us or your complaint is not satisfactorily resolved within 2 business days, please telephone Market Matters, on 1300 301 868 and ask to speak with the Complaints Officer. We suggest you put your complaint in writing at this time so that the issues are fully documented and understood by the parties. Your complaint should be addressed to:
The Complaints Officer
Level 29, Chifley Tower,
2 Chifley Square Sydney NSW 2000
Market Matters will review your complaint within 45 days and attempt resolution. If you are still not satisfied with the outcome, you may take your complaint to an external dispute resolution scheme. Market Matters is a member of the scheme operated by the Financial Ombudsman Service. You should write to:Australian Financial Complaints Authority Limited (AFCA)
You may also wish to consult ASIC in relation to your complaint. ASIC’s website contains information on complaining about companies and people and describes the types of complaints handled by ASIC. You can contact ASIC on its free call infoline:
Tel: 1300 300 630 or email [email protected]
We maintain professional indemnity insurance to cover our employees and Authorised Representatives (including us) for the financial services they provide, having regard to the following:
If you require further information about these compensation arrangements please contact us.
Terms and Conditions
This website, www.marketmatters.com.au, is published by Marketmatters Pty Limited (ABN 20 137 462 536) ('Market Matters', 'MM', 'us', 'we', 'our') Australian Financial Services Licence 488798
Financial Services Guide
Market Matters Financial Services Guide (FSG) is located here, and contains important information about the financial services provided by Market Matters. You must read our FSG and consider it in the context of your Personal Circumstances before acting on any advice. By accepting the terms and conditions you are acknowledging that you have read the FSG.
Provision of the Reports
Reports and other documents published on the Market Matter’s website (‘Reports’) are authored by Market Matters. The Reports represent the views of Market Matters based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal advice. That means they are prepared for multiple distribution without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor.
The Reports are published by Market Matters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
Past performance is not a reliable indicator of future results. Brokerage costs have not been included in the calculation of performance. As financial products rise and fall in value, returns may be negative. Performance figures are not intended to be a forecast. Market Matters does not guarantee the performance of or returns on any investment.
Employees and/or associates of Market Matters may hold one or more of the stocks reviewed on this website.
Subscriptions and Subscription Prices
To access premium content available on the Market Matters website you may initially subscribe through the complimentary trial which provides you full access to all services for the trial period. You are limited to two trials after which you must subscribe to one or more membership categories available on the website or direct with Market Matters before you can trial the service again, three months after the expiry of your second trial.
To subscribe to Market Matters services and access to the website you may go to the Memberships page of the website, provide the information marked as ‘Mandatory’ and select the payment option for the price quoted (at the time of your transaction) or contact the team directly at Market Matters by phone or email. You will then receive a verification email from Market Matters indicating that your subscription and payment have been accepted and you will be able to access the premium content.
Prices published on the Market Matters website are quoted in Australian Dollars (AUD) and are inclusive of GST and/or all other duties and taxes. Market Matters has used reasonable endeavours to ensure that prices for subscription to its services are published accurately on the website but these prices are subject to change and Market Matters reserves the right to change these prices and will notify you of any increase by email (with the price increase to apply from the time the next payment is due).
Marketmatters Pty Ltd (ABN 20 137 462 536) will issue a tax invoice to paying subscribers in relation to any supply that is subject to GST in accordance with A New Tax System (Goods and Services Tax) Act 1999.
Any member is entitled to cancel their membership at any time. In the event a member does wish to cancel their subscription, cancellations must be notified in writing to:
Level 29, Chifley Tower, 2 Chifley Square, Sydney NSW 2000
or by email to: [email protected]
All cancellations of month-by-month subscriptions will be cancelled and not billed again the following month.
All cancellations within 14 days we be entitled to a full refund. Any introductory gifts, such as, but not limited to; iPads, Fitbit watches, Apple watches, Google Homes, must be returned in their original condition before a refund will be made.
All cancellations made after 14 days of subscription commencement will not be entitled to a refund unless in the event of extenuating circumstances, at the sole discretion of Market Matters.
Subscriptions will automatically renew on the expiry date of current subscription. In these instances the subscription will be renewed at the current rate published on the Market Matters web site, using the same credit card that paid for the initial subscription, unless otherwise requested by the subscriber. A subscriber who wishes to cancel after being renewed in this way will have a “14 day cooling off period” in which they can request to discontinue and will receive a full refund for the renewal payment, this can be done in writing to:
Level 29, Chifley Tower, 2 Chifley Square Sydney 2000
or by email to: [email protected]
Market Matters has not reviewed any of the websites which link to this website or to which this website links. Market Matters is not responsible for the content of any other website or pages linked to or linking to its website. Following links to any other websites or pages shall be at the user’s own risk.
Copyright © 2018 Marketmatters Pty Ltd (ABN 20 137 462 536). No part of this website, or its content, may be reproduced in any form without the prior consent of Market Matters.
This Agreement is governed by and is to be construed in accordance with the laws of New South Wales, Australia. You agree to the non-exclusive jurisdiction of the courts of New South Wales, Australia in respect of any proceedings concerning this Agreement. This website is not available to US and/or EU persons and by accepting these terms you confirm that you are not a US and/or EU person.