Morning all,

Apologies for being late today but had a meeting..so will keep it short…

News that ‘Moaning Mertle’ and ‘Hollandaise Sauce’ were joining in the whatever it takes chorus was enough to send more pain to the bears,..the Dow soared above 13,000 and our SPI hit a three month high..and the Olympics started so all is right with the World..for the moment the news focus is on Olympic Gold and glory not Economic woes..we can pay for those later..the French have more reason to celebrate as well winning the 4x100m freestyle..only their third ever Gold medal in the pool ..ever!

Our market has opened firm, and despite my misgivings, I am happy to go along for the ride..it’s always a nicer feeling when the market is green..

Reporting season to kick off very soon and that will be key but hopefully we can build up some momentum and go for Gold..target 4350 if it all hangs together..TLS looking like bursting through 4.00..still like WHC…reasons still the same from last week..

So far solid figures from WES and WOW…enclosed report on WES..

A few things to think about.

1.The Iron Ore price around $118 ..not good..but hopes are for a recovery…fingers crossed or FMG will continue to suffer.

2.faceplant continue to live up to their name…1bn members but struggling to make money..my son is a high frequency user of faceplant and does not click on the games,ads or buy anything through them..this is going to be an uphill struggle…but if you charged everyone a buck a year to be a member there’s 1bn in revenue..shame the site says its free and always will be ..better take that down!

3.Mark Cavendish…not the way to behave when you come 29th..

4.Hats off to Danny Boyle for a stunning opening…made me proud to be a Pom!!

5.The Missile fails to fire and turns into a pop gun!!Go Leisel!!

6.Agressive Ivanhoe mines cuts back on aggressive exploration..sign of things to come..

Have a good Monday

Clarence

XXX