What Worked Australia - 23 Dec 2016 - Size the flavour for the end of the year

What Worked – Size came in with a strong IC this week, largely driven by a sell-off in the smaller end of the market rather than a buy into the larger cap names. OFX Group (OFX, -5.7%), Virtus Health (VRT, -1.5%) and Japara Health (JHC, -4.8%) all taking a hit this week, while their larger brethren largely stayed inline with the market.

The end of year momentum sell-off slowed this week, with the mid-term momentum signals still felling the sting, but the longer term stabilizing. In the 3-month momentum quintiles, there was a sell-off in the worst performing names, but the IC was largely driven by a reversal in the best performers over the last 3 months. Among the best performers over the last 3 months that took a hit this week were Galaxy Resources (GXY, -3.9%), SIMS Metal Management (SGM, -3.3%) and Origin Energy (ORG, -1.5%).

Who Moved – 12 names managed to move on very strong volumes this week. Finishing the week in the black included Mayne Pharma (MYX, +6.2%), Independence Group (IGO, +3.5%) and Iron Mountain (INM, +3.4%), while Sydney Airport (SYD, -6.4%), Flexigroup Limited (FXL, -5.6%) and Seven West Media (SWM, -1.8%) all finished up lower.

Summary

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