Morning all,

‘It’s a mixed up muddled up shook up world except for Lola….Lo Lo Lo Lo Lola’…strange times indeed…markets want Spain to push for a bail out..they were disappointed that they didn’t!!Apparently this is bad news!!We live in interesting times indeed!Theory goes that the bail out will see the end of Zombie woes..you must be kidding..this one will run and run…They are still arguing in Greece with the Troika!!

We had a stellar day yesterday with the market pushing through the 4400 barrier on the RBA rate cut and positive sentiment in resource stocks..Gold continues to bubble away and with money free around the World, risk money is getting braver as rates drop everywhere. Finally the RBA saw sense and dropped rates..I suspect they will not go again unless Zombieland deteriorates further…they will be happy to wait and see how it is helping the economy…

Futures indicate a rise again today..I am sceptical..yesterday was too good and with commodity prices off a little and the market pretty fairly priced not sure we have too much gas in the tank …we need to refuel and consolidate a little..expect a down 10 kinda day ..with those that missed out yesterday keeping a floor under things.

Golds will be worth buying on the back foot..not having too many back foot days though at the moment but patience is hard…

Idea of the Day from my new best mates at BBY..

 

 

Things to make me go all Kinky!!

1.Banks yet to move on Mortgage rates…will be like Penguins once one goes, they all go!

2.Bernanke has decided that the key to the unemployment situation in the US is getting the Dow up!Brilliant plan..everyone will feel better and hire new workers…splendid idea..not good to bet against the Fed though!!!

3.Apple still a bit sour last night in the States hitting 650 before bouncing back to 661…I believe this one has seen its best..problems with iphone 5 and IOS will hamper growth and it’s a phone!!How much more revolutionary can it get!!

4.The chief executive of mining services and equipment company Boart Longyear is leaving the company. Craig Kipp has terminated his tenure as chief executive, effective immediately, the company said in a surprise announcement on Wednesday.

5.Shares in publisher APN News & Media, the owner of The NZ Herald and a series of Australian regional titles, surged nearly 25% yesterday, sparking speculation a review of the company’s Kiwi assets may have found a buyer.

6.Andrew Forrest is free to keep running his Fortescue Metals Group after the High Court said investors were smart enough not to accept as gospel any claims that contracts with China would create “wealth beyond the dreams of advice”

7.Central Petroleum chief executive Richard Cottee is aiming to secure a second high-profile JV partner in coming months after snaring a $150m agreement with Adelaide-based Santos.CTP is a BUY

8.US debt soared 95bn after the year end to a massive record $16,159,487,013,300.35 So as of today, total US Federal debt to GDP is 103%. And rising about 1.5% per month.

9.US volumes still heading down as are ours!

10.The Italian Ambassador to the UK has a new car…

A new Maserati..these guys are doing it tough..good example though..

And finally…..

 

If you are ever attacked by a mob of clowns, go for the juggler!

Clarence

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