Our Algo Engine triggered a buy signal in MVB, (Vaneck Vectors Australian Bank ETF), on 4th December at $27.14.
With the current momentum across equity markets, we consider the signal an opportunity to gain broad based exposure to the banking sector, with a stop loss below $26.50.
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Both ING and IVC remain on our watch list following recent Algo Engine buy signals.
We recommend investors continue to monitor these names, as they are now approaching oversold levels.
In late November we highlighted GE as a counter trend buy.
We maintain that GE offers deep value for longer term investors and highlight the recent buying interest which is starting to build.
GE has now rallied over $1.00 or 7% from the November low.
GE shares sold off following the re-statement of accounts and recognition by investors of the cash flow issues, bloated expenses and under performing business units.
The new CEO, John Flannery, is now in place and announced a restructuring plan last month along with a 50% cut in dividend.
Like any large organisation, these changes take time to address and implement. However, 1 – 3 years out we’ll start to see a very different GE begin to emerge.
If you’d like to add GE to your portfolio or other international shares, please contact leon@investorsignals.com
Our Algo Engine generated a buy signal in the AUD Betashares Australian Dollar ETF on the 11th December at $14.75. Since then, the ETF has rallied 10% in line with the Australian dollar bouncing from .7510 to .7870.
On the flip side, we’ve seen the USD Betashare ETF make lower lows and lower highs.
We feel that the counter-trend which has played out during the past month will begin to normalise and we are likely to see a shift back towards USD strength.
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Spot Gold prices reversed off a 4-month high of $1232 as the FOMC minutes suggested that the US FED is prepared to lift overnight rates up to 5 times in 2018.
The yellow metal has rallied over $80.00 over the last 3 weeks and has gained in 14 of the last 16 trading sessions. The internal momentum indicators are now in “overbought” territory which warns of a downside correction.
Much of the recent rally was supported by the notion that the FED would take a less aggressive monetary posture, which would weaken the US Dollar.
We maintain a bullish outlook for Gold but would look for a pullback to re-enter into long positions.
As such, we suggest taking profits in NCM in the $23.20 area and look to buy back at or near the $22.60 level.
Newcrest Mining
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