Morning all,

Still getting my head around systems as I came in this morning and my computer had rest back to where it was when I arrived!!!Good stuff…

Last night we had good news all around. Housing starts in the US were better than expected and with no bad news out of ‘Zombieland’ on the verge of the Summit..yeah another one..things are looking perky. Gold and Copper were better so expect some action in the mining stocks again today.RIO regained their number 2 spot in the World of mining companies after Vale fell 1% last night. Iron Ore was also stronger overnight so another positive.

The next leg up in the market will be the resource stocks and this will take us to 4700 I think before Xmas.

Chinese GDP numbers due today at 1.00pm..expectations are around 7.4%…as I have been saying yesterday if you have a view that the Chinese market will recover as the new leadership takes over in November and the Aussie Dollar is overvalued then a good way to play it is through IZZ…this is an ETF on the Chinese 25 index..I can send more details if you are interested but with their market trading at 9.5 p/e there is plenty of upside if we get some stimulus from their new leadership and more Aussie rate cuts.

Idea of the Day:

If you are interested in getting BBY research then please have a look at the AM briefing I am sending this morning and let me know if you want to be added to the permanent email list for this..it will not replace my own note but will be far more in depth I can assure you!

Things to make me go mmm!!!

1.Channel Nine escape administration…TEN not looking quite so positive..be an interesting dinner party at Lachlan’s place when Gina comes round!

2.Lance Armstrong has resigned from his charity and Nike has just dropped him too…not been a good week for Lance…

3. Groundbreaking on new US homes surged in September to its fastest pace in more than four years, a sign the housing sector’s budding recovery is gaining traction and supporting the wider economic recovery.

4.Apple due to launch the mini ipad! Interesting..this is why… In 2011, 81 per cent of tablet computers owned in the US were Apple iPads, but in 2012 that number fell to just 52 per cent, according to a report from the Pew Research Centre and the Economist Group.

5. Bank of Queensland has posted a full year loss of $17.1 million, the first full-year loss by an Australian bank in 20 years. The loss for the year to September August 31 compares to a net profit of $158.7 million in the previous 12 months.

6. Newcrest Mining has completed another underwhelming quarter, confirming today that four of its six mines produced less gold in the September period than in the three months to June. The 460,425 ounces of gold produced by Newcrest in the September quarter was more than 20 per cent less than the previous quarter, with unit costs duly rising.

And finally….

“When Jesus went to heaven, was that not essentially ‘moving back in with your parents’?” or this one “My Dad’s advice when I was younger about women was ‘Treat ’em mean keep ’em keen’. I guess that’s why they had that divorce.”

 

On the radio today and Sky Biz news this afternoon.

Have a good one

Clarence

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 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.