\tIn hindsight, with the market having done better than expected over the last several weeks, it is easy for investors to get sucked in to buy up at these levels. But macro events from June\/July were a bit of a minefield, and August saw reporting season kick off in Australia. We have a third of companies reporting this week, but there has been a notable trend already towards cautious forward statements. It is easy to say now that being aggressively long the market would have been beneficial, but the environment was risky. For those stocks that have had a good run, I am still happy to wait for cheaper levels.<\/p>\n
\tHaving said that, there are some other quality companies that are still providing good value at this point in time. I highlighted QBE<\/span> ((QBE<\/span>)) last week as a company that will get to \n\t \n\tThe ASX<\/span> 200 ((XJO<\/span>)) has initially found resistance where it gapped down in early May. Given the strength of the last few weeks, we may even see a retest of the May high up towards 4450. However, given that the rally is corrective and volumes are light, we still have a good probability of retesting<\/span> the June low at some point, with a target at 3800. September and October are generally negative for the markets, but considering that we’ve had a number of false signals during August, I will refrain from giving a time frame for when the market may attempt a pullback.<\/p>\n \n\t \n\tAfter leaving Macquarie Bank's Securities Group in 2008 after many years of service, Michael has gained a highly regarded reputation in the financial services industry. As a Private Client Adviser with Novus<\/span> Capital, Michael has become a popular live commentator and analyst for Sky News Business Channel’s “Your Money, Your Call” program. He is also the author of the weekly stock market report “The Dynamic Investor”.<\/p>\n \tMichael assists investors to achieve their goals by providing advice ranging from short term trading to longer term portfolio management.<\/p>\n \tMichael deals in all ASX<\/span> listed securities and specialises<\/span> in covered call writing to help long term investors protect their share portfolios and generate additional income.<\/p>\n \tMichael is RG146<\/span> Accredited and holds the following formal qualifications:<\/em><\/p>\n \n\t• Bachelor of Engineering, Hons<\/span>. (University of Sydney) \n\t \n\tDisclaimer<\/em><\/strong><\/p>\n \n\tMichael Gable is an Authorised<\/span> Representative (Rep. No. 376892) of Novus<\/span> Capital Limited AFSL<\/span> 238168 ACN<\/span> 006 711 995. Michael Gable and Novus<\/span> Capital Limited, their associates and respective Directors and staff each declare that they, from time to time, may hold interests in securities and\/or earn brokerage, fees, interest, or other benefits from products and services mentioned in this website. This website may contain unsolicited general information, without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you must consider the appropriateness of the information in this website or the Product Disclosure Statement (PDS<\/span>) or Financial Services Guide (FSG<\/span>), having regard to your objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised<\/span> and also may change without notice to you, particularly if based on past performance. Michael Gable and Novus<\/span> Capital Limited believes that any information or advice (including any securities recommendation) contained in this website is accurate when issued but does not warrant its accuracy or reliability. Michael Gable and Novus<\/span> Capital Limited are not obliged to update you if the information or its advice changes. Michael Gable and Novus<\/span> Capital Limited and each of their respective officers, agents and employees exclude to the full extent permitted by law, all liability of any kind, in negligence, contract, under fiduciary duties or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, to the extent arising from or in connection with this website.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Michael Gable of Novus Capital sees the potential for the ASX 200 to push higher but remains concerned over the lack of trading volume.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60448"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=60448"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/60448\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=60448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=60448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=60448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\tcheaper levels, and last Friday’s annual result was the catalyst for that. So these are the right levels to get involved with QBE<\/span> if you have a medium to longer term horizon. I have also noted in this week’s report tha<\/span>t Cochlear ((COH<\/span>)) appears to be a good buy around these levels, with CSL<\/span> ((CSL<\/span>)) possibly presenting a buying opportunity in coming weeks. <\/p>\n![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/0_0_gable.jpg\")
<\/p>\n
\n\tContent included in this article is not by association necessarily the view of FNArena<\/span> (see our disclaimer<\/a>).<\/em>
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\n\tVisit Michael Gable's website at <\/span>www.michaelgable.com.au\/<\/a>.<\/a><\/em><\/p>\n
\n\t• Bachelor of Commerce (University of Sydney)
\n\t• Diploma of Mortgage Lending (Finsia<\/span>)
\n\t• Diploma of Financial Services [Financial Planning] (Finsia<\/span>)
\n\t• Completion of ASX<\/span> Accredited Derivatives Adviser Levels 1 & 2<\/em><\/p>\n<\/em><\/p>\n