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ASX – August Volumes

ASX is under Algo Engine buy conditions.

August cash equity volumes and average daily futures contract volumes were well down on the same time last year, -13% and -19% respectively.

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FY21 earnings are likely to be flat at best and with the stock on a forward yield of 2.8%, we see it as “fully valued”. Owning the stock and selling an at the money covered call option is generating 8% cash flow.

We see value in buying ASX on any market weakness.

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
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