Morning all,

First off ,Happy Birthday to the Glimmer Twins, Charlie and Bill, 50 years for any ‘business’ is a remarkable achievement..have to include Bill as he was there at the beginning at the Marquee in 1962…let’s hope they come back here for one last show…

So ‘Have you seen your mother baby standing in the shadows’ or was it just another Zombie crisis as Spain felt the wrath of the miners with a superb rendition of ‘Street Fighting Man’ ..announced more cuts to their public service,raised taxes and generally cut everything, , ‘Little by Little’.

Markets took that in its stride whilst over in the US all eyes were on the Fed and Uncle Ben’s comments,but ‘You cant always get what you want’ as traders ‘Aint too proud to beg’for more stimulus..but the ‘Hand of Fate’ was cruel and despite the late rally in the Market it finished ‘All down the line!’

Here’s the basis of what was said by the Fed

  • A FEW FOMC MEMBERS SAID MORE STIMULUS WOULD      PROBABLY BE NEEDED
  • SEVERAL ON FOMC SAID FED SHOULD STUDY `NEW      TOOLS’ FOR EASING

Crystal clear!

Back to our market which is likely to meander around today looking for direction….investors are still saying “Gimme Shelter’ and yield stocks continue to be well supported whilst Resource stocks with no dividends have got ‘No Expectations’. The market seems stuck between “a Rock and a Hard Place’ with no ‘Sympathy for the Devil’. Expect this to continue for a while longer as we look a little ‘Torn and Frayed’ …Range continues to be 4000 to 4400

TLS continues its upward climb and expect to see $4.00 in the coming weeks…it sure has been a “Star Star”.’Not fade away’ anytime soon. Not with US ten year bonds yielding under 1.5%..crazy stuff indeed.28 cents in Divs with 14 cents very soon..3.7% yield for holding for 6 weeks!!

Banged on about Silex yesterday ..am happy to talk you through the numbers if interested further..could be “Hot Stuff”.

 

Things to make me go all ‘Little Red Rooster’!

1. Sydney get over the G20 thing!It’s not like the ‘Prodigal Son’ is returning..we hated APEC after all.

2. Spain announces 65bn Euro austerity package.”It’s all over now”

3.Peregrine Financial files for bankruptcy as founder attempts suicide..obviously his “Nineteeth Nervous Breakdown’

4. SPI only up 1 point with Oil slightly better helping US energy stocks..first casualty of the US Shale explosion Patriot Coal getting “Shattered”

5. Few big numbers due in next few days, Chinese GDP and our Unemployment..so could make things interesting. Maybe we are “Waiting on a Friend”

6.”Wild Horses’ continue to be unable to drag investors off the sidelines with equity volumes in the doldrums.

7.BHP, ’Can’t Get No Satisfaction’ as they  look to have made their “Biggest Mistake” with a disappointing well in the Gulf of Mexico..”

And finally…

 

Two Aussies are adrift in a lifeboat. While rummaging through the boat’s provisions one of them finds an old lamp. He rubs the lamp and a genie suddenly appears. This genie tells them that he only grants one wish.

Without giving much thought to the matter, the lamp finder blurts out, “Turn the entire ocean into VB!”

The genie claps his hands with a deafening crash, and immediately the entire sea turns into beer.

The genie disappears and only the gentle lapping of beer on the hull breaks the stillness as the two men considered their circumstances.

The second Aussie turns to the first and says, “Nice going mate! Now we’re going to have to pee in the boat.”

 

Catch me on Newcastle radio today at 12.30..

 

At the end of the day though “It’s Only Rock and Roll”

 

Enjoy the day Mick, Keith, Charlie, Bill, Ronnie and Mick Taylor..RIP Brian and Ian Stewart..

 

Clarence

XXX

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