Bell Direct TV

Domestically there have been some warning signals coming through from some cyclical sectors. Cyclically, we have seen two areas being affected quite severely: housing related stocks and retail stocks. Almost any housing related stock has seen falls of at least 10% in October, from stocks like Domain (DHG) down 27% Boral (BLD) down 19%, GWA down 16% or Nick Scali (NCK) down 17%.