Top of the morning to you,

And what a fine morning it is indeed..the Dow is now at its highest level since 2007..13,000 is long gone as the VIX trades around 15/16 and everything in the World is right…phew..so glad..

Jamie Dillon from JP Morgan didn’t wait for the latest US stress tests on its banks before opening his shoulders with an increased Div and buyback..there’s confidence for you! Retail sales also grew at highest level for five months!

Europe rallied, Oil rallied, Metals rallied but poor old Gold fell…sorry gold bugs! SPI up 43 though so onwards and upwards we go..4300 again..that’s the top of the range so maybe with some help from overseas we can bust through it..

Big stocks will lead the way with Banks probably following their US counterparts but FMG,BHP and RIO will improve on Steel production numbers out of China. Feb Output up 3.3% which was much better than expected

In small stocks I continue to like COE,BRU (but need a pullback) and we saw CAY yesterday which is looking interesting in the West African Gold space…another stock we saw the other day is one called Alexium…very interesting technology and well worth having a butchers at their web site www.alexiuminternational.com for more info ..but they have a technology for treating materials which makes it impervious to water, oil, fire and acids plus other NBC nasties…capped at under $10m but any good news on deals will change this one for the better..impressive technology and micro cap so plenty of upside.. Technology invented by the US Defence department!

Few things of interest

1.Eurogroup chairman Juncker said last week’s strong take-up of the Greek debt swap meant the country would be able to cut its debt to 117% of GDP by 2020. He did not rule out the possibility of a third bailout package, but said it shouldn’t be needed if Athens implements its reform program effectively.

2.Rare Earths to be a new battle ground for the WTO as China defends its export limits.

3.Rebekah Brooks arrested.

4.Who would have thought you could smuggle arms through the post office..I struggle to get a parcel delivered without a DNA test.

5.Sensis boss Bill Akhurst falls on his sword…has let his fingers do the walking.

6. The Federal Reserve said 15 of the 19 largest U.S. banks could maintain adequate capital levels even in a severe recession scenario that assumes they continue to pay dividends and buy back stock.

7.Liverpool beats Everton 3-0

Back on TV this afternoon at 4.30..stay classy Sydney

 

Clarence

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