Morning all,

Once again we are in wait mode as the FOMC meeting kicks off for two days of talks, the Dutch go to the Poles and Ze Germans go to court…however the market is pricing in good outcomes on all of these fronts and word from our Chinese friends that they are confident that they can manage to keep growth on target was all it took…onwards and upwards..Gold had another good night too so looks like the presses will be cranked up soon…expect our market to creep higher as resources find friends especially in the Iron Ore space..at this rate of price rises FMG will be hiring back all the staff they sacked the other day..Iron Ore above $100!Trouble is that this is pushing the Aussie Dollar up again too…there goes my parity call!!Still Swanny will be happier and Twiggy! Punish those shorts guys..non believers in the Iron Ore Miracle…expect price to bounce a little more before it starts to sink again and settle around 95…

Oil creeping up to $100 …considering the World is in an economic downturn to say the least I find it worrying that Oil is where it is..if we start to get real growth again around the World then who knows what price Oil..

Dow closes at it’s highest level since 2007!

SPI up 18 ..Expect to see us push on to 4400 if the next few days goes to plan…banks and industrials will underperform as resource stocks pickup..but the rising tide will lift all boats…well not all…but you get the idea..

Gold shares to watch include ..SBM,EVN,IGR,SLR ,BDR,RRL….they are pushing higher but feel a pullback in Gold is coming so that’s the time to get in..don’t forget though as Gold will be the big beneficiary of the money printing!

Things to make me go mmmm!

1.BHP, Rio & other miners are reconsidering their plans in Australia’s biggest coal-producing state after the new conservative Qld government hiked the coal royalty to help drive a record $6.3bn budget deficit back to surplus.

2.Moody’s said it could downgrade the U.S. government’s credit rating next year if steps aren’t taken to tackle the rising debt, in the latest reminder of the tense fiscal negotiations looming for Congress and the White House.

3.Faceplant rallies above $20 as the Zuck tells the punters that the future lies in smart phones..wow! Glad they worked that out..I think the future for faceplant is rapidly diminishing as they dilute the space with commercial ads and pages…does turn people off.And he’s disappointed with the stock performance!!Think he is not the only one!!!

4.Wen signals China has lots of policy tools to meet growth target..they could just make it up…they are a Communist country after all..sometimes we forget that in our rush to sell them stuff!

5.Saw Storm Surfers last night..highly recommended…produced by a friend’s brother and some amazing footage..made me want to get out there!!!Shame I cannot even surf! That’s Poms for you..

6.Iron Ore process have jumped again..having plunged to 87 bucks the other day we are now back above 100…very easy to manipulate as it’s so thin but moves will help BHP,RIO,FMG,AGO and ARI!

7.Currency scandal threatens to embrace Glenn Stevens as new evidence he knew about it come to life..he does look a bit like Tricky Dicky!

8.Andy Murray wins a major…it’s been 76 years since a Brit won a Tennis major..I know he’s Scottish but it still counts…fantastic summer of sport for the UK..Olympics, Tour de France, Paralympics, Murray, shame about the cricket though!

9.And where is the Chinese Vice Premier..seems to have gone missing amidst reports he has had a heart attack..he is supposed to be the next leader after the change in the next few months!

10.My thanks to www.zerohedge.com for this set of figures to commemorate September 11^th

   How the US World has changed!!

11.Looks like the Glencore /Xstrata takeover is going to happen as Qatar signals they won’t block it…biggest merger this year…

And finally…

A lady with a clipboard stopped me in the street the other day. She said, “Can you spare a few minutes for cancer research?” I said, “All right, but we’re not going to get much done!

HAVE A GREAT DAY

Clarence

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