I am not going to mention ‘Zombieland’ once today I promise………………………………………………………really I do!
Last night the US fell for its fourth day in a row with things not looking quite so peachy as the bulls thought. It wasn’t a big fall but they are consolidating their gains from January. Consumer confidence was weaker than expected and business activity cooled..looks like Uncle Ben may be right to look for QEIII..VIX starting to pick up as well back to 19.5..
Expect our market to be mixed again today with a slight bounce on the SPI but commodities weaker. Corporate moves from Gina Rhinehart will be of interest as she swoops on FXJ..let’s hope it’s a better deal than her TEN purchase…I am sure it’s just a rouse to stop the press publishing unflattering pictures of her…not sure the days of the Media Baron are still here in this new ‘twittersphere’..still its chump change for her even if she bought the whole company!!
Mining company quarterlies continue to dominate things and I am reminded of why I bought some of these in the first place..before the market went sour on all things speculative..I have written a small piece on some specs that I still like and believe have good prospects for the coming year provided the Mayan’s were wrong!!
We have a few things to watch out for today AUS House price index and Chinese PMI manufacturing for Jan will be of special interest.
I remain a fan of energy stocks and noticed that Macquarie has come out today with buys on STO,OSH.ORG and WPL..I agree wholeheartedly..as the World moves from 7bn people to 8bn in 2020 they will all need power…and sustainable energy is hard to find..gas will be front and centre of the World’s energy requirements into the foreseeable future..whether it is LNG,CSG or any other combination of letters..don’t we all love a acronym!!
Thought for the day..”Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it!” Bonus points for naming the famous philosopher who said this!!!
Have a good day and spec stocks enclosed…as they say on TV though… “Bet with your head, not over it!”
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