Well September is now upon us and the Northern Hemisphere will be back at work following Labour Day holidays in the US tonight. Jackson Hole has been taken as a positive by the traders on Wall Street and comments from Uncle Ben that he is ready to push the QE button again were taken positively…of course he didn’t say when or how much or anything else substantial but it was enough for the end of month rally to occur. Volume was better and the 100 points was enough to ensure that the market closed positively in August.

Our market will open higher but as usual I suspect we will see very few signs of significant follow through, however Gold may be the one bright spot with the metal pushing higher on Friday on stimulus hopes..testing the 1700 level.. Gold shares may be the sector to watch. EVN looks interesting and I have some research from our new buddies at BBY if you are interested.

I still feel that the market is trading at the top of its range despite the rally on the Dow and the price of Gold…I remain in the take profits camp and feel that September has the potential to get interesting again.Hope I am wrong!!

As you probably know we are merging Cameron’s with BBY and these changes are expected to finalise around the end of September. I have signed my new contract with BBY so I will be moving over to the new firm and am looking forward to be able to offer more products and more corporate offerings once we get settled.

1.Gunns look to be firing blanks…looks like they are slipping quietly into corporate heaven!

2.During the month of June alone $70.90 billion left the Spanish banks and in July it was worse at $92.88 billion which is 4.7% of total bank deposits in Spain. For the first seven months of the year the outflow adds up to $368.80 billion or 17.7% of the total bank deposits of Spain and the trajectory of the outflow is increasing dramatically….ouch!!Spanish Unemployment at 25%..thats NOT youth unemployment by the way that’s 54%!!Now Rajoy says country can’t fund itself!!NOT GOOD!!!

3.France Nationalises its second biggest Mortgage Lender Credit Immobilier de France….they always wanted a RBS or Dexia Moment..now they have it!!

4.China’s economy is showing mounting signs of deterioration from manufacturers to banks, raising the risk that outgoing Premier Wen Jiabao will miss his growth target for the first time since taking office in 2003

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5.China’s manufacturing shrank for the first time in nine months, an official survey showed, signalling the growth slowdown in the world’s second-biggest economy may be deepening. The Purchasing Managers Index fell to 49.2 in August from 50.1 in July, official data showed on Saturday.

7.Is it just me or is the SMH web site getting worse and worse..fewer updates..less quality ,more scandal and celebrity gossip and less reason to go there..this is not a good sign for a company that is basing its survival on its web strategy.Not sure I will pay for it!!

8.Gerry Harvey reckons the Internet is all Bulls**t…sorry Gerry you are wrong and that’s why your share price is and will be going down!!

9.Gina Rineheart’s $9.5bn Roy Hill project is facing a cost blowout of as much as $1bn and doesn’t have enough money for work to stay on schedule.

10.The contraction in the euro-zone economy deepened in August and unemployment hit a new high, adding to recent evidence that the region’s descent into recession is accelerating.

AiG performance of manufacturing (PMI) index, August

TD Securities inflation gauge for August

Retail sales for July. Bloomberg survey prediction (MoM): +0.2% / Prior: 1.0%

ANZ job advertisements for August: July survey showed a fall of 0.8%

RPData-Rismark house prices for August

Reserve Bank of Australia (RBA) index of commodity prices for August

Dun and Bradstreet business expectations survey

Have a great day