Forget banks, AMP and Telstra, consider Aristocrat Leisure and Kidman Resources

Chief Investment Officer and founder of Aitken Investment Management
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I continue to believe the S&P/ASX200 will struggle to hold above 6000 and remain “tactically bearish” Australian equities at the index level. I’m even more confident in my shorter-term cautious stance on the S&P/ASX200 above 6000, now that the negative seasonality of commodity prices has started to kick in. With oil and iron ore under pressure, a classic “sell in May and go away” event in commodities, the ASX resource sector, led by BHP, will come under further profit-taking pressure. Resources have previously been doing the index heavy lifting and that is going to reverse.

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