Morning all,

 

Another night of Zombie unrest as Spain’s debt rose above 6% and markets sold off..Even Gold dropped last night as punters were lured back into the US Dollar. Expect Groundhog day for our market today..No Volume and down 25 again..4400 is shaping up to be the mother of all barriers!!

 

Expect our market to remain squishey with no impetus to push higher.At some stage the RBA will cut(October)… that’s a given and when they do the high yielding stocks will just look that tiny bit better..still love TLS!!

 

Things in the World once again are moving away from Risk as man cannot live by stimulus alone..of course it would be nice to hear from our Political leaders but that is too much to ask..

 

Our market will test 4300 in the next few days so time to lighten the loads a tad perhaps…Oil, metals, Gold all down…defensives back in favour I suspect.

 

Idea of the day!

 

After yesterdays run in TPT up from 31 to 38 pressure is on…so what’s next…

 

Going back to an old favourite..this is a stock everyone should have some of..BRU-Still in a trading halt as it is raising some money to buy more acreage..this is an opportunist move to shore up the whole region..chances like this don’t come along that often so they are making the most of it..will be the dominant player in Super Canning Basin and good results continue from Valhalla and Ungani…in five years this will not exist..someone clever corporate will have taken them out a long time ago!!Buy around 2.75-2.80.Institutional Placement will keep a lid on them for a little while but expect excitement in this one..Eric the Viking has done a great job in this! He is the CEO!!

 

1.First US Government report finding a link between “fracking” and water contamination!!…..Pavillion Wyoming could be an interesting flash point for the doomsayers in this industry!

 

2.Big Nath drops $2m a day on rich list survey..ahhh!

 

3.Private equity has bought Dick Smith for $20m..sounds like a bargain to me…325 stores for that money..must be a catch surely?

 

4.Julian Assange has been declared an “enemy of the state”..really ..I still think it’s John Inman from “Are you being served?”..what harm did he do!!Are you Free?

 

                John Inman or Julian Assange you decide who is more dangerous!

 

5.U.K. banks cut their lending to businesses and households in August, underlining the challenge facing policy makers as they struggle to boost the supply of credit and revive a stagnant economy….Isn’t the stimulus packages supposed to enable banks to lend..thought that was the point..maybe I missed something!!!

 

6.The European Commission distanced itself from a German, Finnish and Dutch statement that appeared to dash hopes that the euro zone’s bailout fund could directly recapitalize troubled banks.

 

7.The presence of a huge offshore well and pipeline maintenance vessel at Woodside Petroleum’s Pluto gasfield off the WA coast has triggered concerns there may be trouble at some of its offshore wells.

 

8.This is a cube of the World’s Gold…not much is it…worth $9.6trillion..over 50% of the US debt!!!

 

 

9.Greeks gonna default soon..its inevitable…

 

 

And finally with the Greek and Spanish austerity protests in mind I will remind of this fabulous quote from Peter Finch in Network

 

‘I don’t have to tell you things are bad. Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickel’s worth, banks are going bust, shopkeepers keep a gun under the counter. Punks are running wild in the street and there’s nobody anywhere who seems to know what to do, and there’s no end to it. We know the air is unfit to breathe and our food is unfit to eat, and we sit watching our TV’s while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that’s the way it’s supposed to be. We know things are bad – worse than bad. They’re crazy. It’s like everything everywhere is going crazy, so we don’t go out anymore. We sit in the house, and slowly the world we are living in is getting smaller, and all we say is, ‘Please, at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel-belted radials and I won’t say anything. Just leave us alone.’ Well, I’m not gonna leave you alone. I want you to get mad! I don’t want you to protest. I don’t want you to riot – I don’t want you to write to your congressman because I wouldn’t know what to tell you to write. I don’t know what to do about the depression and the inflation and the Russians and the crime in the street. All I know is that first you’ve got to get mad. You’ve got to say, ‘I’m a HUMAN BEING, God damn it! My life has VALUE!’ So I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window. Open it, and stick your head out, and yell, ‘I’M AS MAD AS HELL, AND I’M NOT GOING TO TAKE THIS ANYMORE!’ I want you to get up right now, sit up, go to your windows, open them and stick your head out and yell – ‘I’m as mad as hell and I’m not going to take this anymore!’ Things have got to change. But first, you’ve gotta get mad!… You’ve got to say, ‘I’m as mad as hell, and I’m not going to take this anymore!’ Then we’ll figure out what to do about the depression and the inflation and the oil crisis. But first get up out of your chairs, open the window, stick your head out, and yell, and say it: “I’M AS MAD AS HELL, AND I’M NOT GOING TO TAKE THIS ANYMORE!”

 

1976 and still relevant today!

 

Have a good Thursday

 

Back on Sky this afternoon!!

Clarence

XXX

Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.