Morning all,

A positive lead from overnight should see us push through the 4400 level again..China is closed this week due to a national holiday so no headwinds from there but commodities and Gold benefiting from weaker US dollar last night’s Uncle Ben speech saying interest rates will be lower for longer…

RBA announcement this afternoon..not sure what they are waiting for growth is slowing ,economy is slipping inflation is under control and employment could do with a push as Governments step back from spending…Austerity is the new black…expect a rate cut this afternoon…0.25% then that’s it til Xmas I think..

Up 20 today with school holidays and long weekend taking its toll on volumes…If rates do fall this afternoon then high yielding stocks will be in demand again..TLS is still my standout at the moment..Buy at 3.85/88

Idea du jour!:

Kentor Gold(KGL)-Announcement this morning will help their cause..it is an operating gold mine in WA with copper production to come ..it also has a Kyrgyz Gold Copper project which they are targeting for production in 2013…good news this morning from Jervois will help stock move up towards 75 BUY

MD Simon Milroy said in today’s report…

“The recent results have identified a new mineralised zone to the east of the main ore body at the Marshall zone. An updated resource estimate will be completed in October.”

Thinks to make me go all…mmmm!

1.All you have to do is change your name and the bidders come out of the woodwork..Arrium (the old One Steel) is under siege now as its shares have hit rock bottom…consortium makes an opportunistic bid..this one will run for a while…buy on weakness

2. Chairman Ben S. Bernanke defended the Federal Reserve’s unprecedented bond buying in his first comments since the Fed renewed the purchases last month, saying the program will spur growth, cut unemployment, help savers and support the dollar.He went on to say..” “We expect that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economy strengthens,”

3.Alan Jones had a nice relaxing long weekend….shame!Apparently we are all jealous of him..

4.Interesting day in store for Twiggy as the High Court is due to announce their decision on whether he misled investors…FMG halted

5. According to a recent CNN poll, 60% of Americans want go to war with Iran to prevent them from getting nuclear weapons.Simultaneously 71% of Americans — in total contradiction to the evidence recognised by both the CIA and Mossad that Iran is not currently even developing a nuclear weapon — believe that Iran currently has nuclear weapons…could be a big issue in the coming US administration!

6. As part of its 8 day Golden Week celebration, China’s central planners decided to do a good thing for the people and remove all tolls from expressways.

 

Good plan!!!

 

And finally

 

An English man and an Irish man are driving head on , at night, on a twisty, dark road. Both are driving too fast for the conditions and collide on a sharp bend in the road. To the amazement of both, they are unscathed, though their cars are both destroyed. In celebration of their luck, both agree to put aside their dislike for the other from that moment on. At this point, the Englishman goes to the boot and fetches a 12 year old bottle of whisky. He hands the bottle to the Irish man, whom exclaims,” may the Irish and the English live together forever, in peace, and harmony.” The Irish man then tips the bottle and gulps half of the bottle down. Still flabbergasted over the whole thing, he goes to hand the bottle to the Englishman, whom replies: ” no thanks, I’ll just wait till the Police get here!”

 

Have a good day

 

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.