Dear %%first_name%%,
All the action was happening offshore overnight but don’t think for a minute that it won’t affect you. The Federal Reserve cut back its US growth forecast and tapered back its monthly bond buying by $US10 billion but US stocks were relieved by governor Janet Yellen’s continued dovish stance on interest rates and ended higher.
Closer to home, even Charlie is getting cautious. But his sell in May and go away is exactly that. He’ll be back in July and will be ready to take advantage of any dips to buy good stocks at cheap prices, as will I. In Part 1 today he walks us through his strategy. In Part 2 next week he’ll get more stock specific.
Also in the Switzer Super Report today, we have Ron Bewley’s bucket list, but for readers who have been asking for more information about his yield portfolio, looks like Ron is ready to tell us all about that too.
In Buy, Sell, Hold – what the brokers say, JB Hi-Fi and iiNet got upgrades, Geoff Wilson writes about why you need international exposure and how you can get it and George Boubouras explains why he started adding James Hardie to his portfolio mid last year.
Tony Negline is all about money for nothing today as he goes through five government benefits and in Question of the Week we examine the best way for an SMSF to buy US dollars.
Sincerely,
Peter Switzer
When chartist and technical guru Lance Lai last appeared on the Switzer show on Sky Business on 1 May (marked M on the chart) he said the ASX/S&P 200 would consolidate at around the 200-day moving average, which is exactly what it’s done, given some ups and downs along the way.
<img src="http://www.switzersuperreport.com.au/wp-content/images/19.6.14-chart-of-the-week-ASXSP200.jpg" alt="some_text">
Appearing on the show earlier this week Lance said that if the ASX holds at these levels, ie 5336, then the upside will look good. But if these levels, or the resistance level (r at 5,448 on the chart), are broken and the US suddenly turns, then things could go bad.
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.