Good morning,
Welcome to another week of thrills and spills!!Friday night saw the Dow finish better plus commodities were firmer so we should see a restrained but positive start to the day.
News of the destruction of the Queensland labour party will cheer Abbott fans….I feel a litte sorry for Anna Bligh..she seemed such a pillar of strength and calm during the Queensland floods..who would have thought then that they would have less than 10 seats in Queensland now..obviously the rain wasn’t their fault(or was it!In a deep and foreboding voice) but the mishandling of projects and the business of Government have taken their toll..I am sure Julia is taking notice..still expect Anna will be able to slip quietly onto the board of QRN as a thank you for liberating them from Government shackles and at such a good price too!
Overseas markets had their biggest week of losses for 2012 but we did ok on Friday..today would expect a modest gain despite the SPI being down 12 points.
 
Things that caught my eye today
1.Chelsea drew with Spurs..not good….battling..come on the blues!
2.Macquarie selling its stake in Thames Water..seems a few people are getting out of Infrastructure at the moment..course the future fund has replaced its TLS yielding 9% fully franked with TCL at 5.4% partly franked..good work guys.
3.Why is it called a future fund..sounds like it is for our benefit rather than the civil service pension provisions.
4.Auusie dollar is starting to show signs of wear and tear!!I know I am!!Especially after Saturday night!
5.Oil heads higher after Iranian report of higher sanctions beginning to bite.
6.West African Golds suffering after Mali Coup.
7.Nuclear Industry almost back to normal after Fukushima disaster a year ago  according to South Korean leader at the Nuclear summit with Obama..
8.Vix down 5% to 14.8 something…volatility is dead long……live Volatility!
On to more prosaic matter today..what to buy and sell…Have been a fan of PSA and for speculative players its a good one to look at around 20/21 for a move to high 20s as drilling starts.
Also an interesting piece today in the Lonsec Research on ERA which may suit some aggressive investors…
Macquarie talking up ANZ on their Asian exposure so if you are looking at the Banking sector ..theres a place to start especially as NAB wrote down some CDO exposure by 150m on Friday..
Looks like the AUN takeover has hit another bump..if they fall back towards 1.35/1.38 string buy in my opinion!They will get taken out at 1.52!!!Promise..
And looks like the new Queensland Government will be moving to sell some more QRN…so chance to buy them again..maybe they won’t give away this tranche!!
Useless Trivia day….Happy Days didn’t jump the shark when Fonzie jumped the shark…
The phrase “jumping the shark”, which refers to the turning point in a show’s popularity or relevance, owes its origin to the Happy Days episode in which Fonzie, on water-skis, literally jumps a shark. But that episode aired in Happy Days’ fifth season, in 1977, and the show remained in the ratings top 20 until its 10th season.  Good to know I think.
 
Back on TV on Wednesday again..someone must like me!!!
Clarence
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