Good morning punters,

The market has blasted out of the box this morning and we are currently up 55 .Expect enthusiasm to wane slightly but with the US closed tonight for Washington’s birthday it will remain well bid. Greek news is positive plus the move from China to loosen the purse strings again help..TLS are Ex Div today so don’t freak out too much…14 cents..I heard Cameron Cline on the ABC as I drove into the office today..very impressive and mounts a good argument to counter the bank bashing that we have had..now if we can just sort Canberra out the index might even push up a little more!

I talked about BBG on Friday as a buy around 2.60 which is where they closed..too late as today TPG have lobbed a $3.00 bid on the table…so the game is afoot as they say…I urge you to read Friday’s note as it does clarify my thoughts on this one.. The Spec portfolio I put together is still pushing ever higher with BRU touching 1.87!MSB above $8.00!!!I think $10 is achievable in this one given time!

ASX 200 is 4250..I would suggest again 4300 is obtainable before a pullback again!

Clarence

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