A: In the absence of a weaker AUD, I favour the yield based sectors – mainly the banks and utilities – to grind this market higher.

I like the health care sector for the long term.

In the longer term, I think the AUD will fall and some of the so called “cyclicals’’ (like industrials) will benefit.

Can’t see any reason to sell Telstra yet – however, if hubris takes over and they go on an acquisition spree, then I will shift out.