Apologies for no post yesterday but got caught up in the excitement of Superbowl!!!

So here we go today

Good morning,

Last night the markets paused to take a deep breath as the Greek tragedy continues to play out.

Our market had a good day yesterday with no real follow through after the opening though. News today from NAB was disappointing but the main focus will be the RBA meeting today. Now here’s a question..if the RBA does not dictate what the interest rate is for mortgages etc..then what is the point of the RBA? The World has become more sophisticated from the old days when the RBA set the rates..the growth in overseas funding is the key…I expect the RBA to cut again this afternoon and the banks to pass on a fraction of the cut and cop a lot of flak!

The banks are coming under some pressure this morning following the NAB announcement…expect the market to pull back and take stock.

One stock that is worth a look is COE. We had a presentation this morning from the new MD..impressive..the company has had a rough time recently with boardroom shenanigans and spills ,intrigue and just completely mismanaged..this is going to change ..the market cap is $120m and they have 70m in cash plus cash flow from their Cooper basin activities..There is upside scope for the Cooper  plus they have some serious upside in the Otway and Tunisia..Share price is currently cash plus one years cash flow..this is a strong buy for rerating as the management starts to implement its plans!!BUY

TLS has burst through 3.415..go baby!

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