As we currently stand we are down 20 points with the falls in OZL,SGM,WOR and FMG leading the way in large cap issues.

Defensives are back in vogue with TLS up 4 cents to 3.87 WOW up 15 cents and after CBA’s results a 40 cents positive move..

RIO down 1.64 today after going ex div..maybe this is a sign of whats to come in others when they go ex div!

So far the results season has been pretty underwhelming and I suspect that as stocks go Ex Div in the coming month or so, the impetus will ease in our market and we will meander around aimlessly again being tossed around by macro issues in Europe,the US and China!!

I know Charlie Aitken is so bullish but then he has been forever!!Has to be right eventually.

HJ