Australian Sharemarket, Ben Bernanke, BHP, cba, Charlie aitken, commonwealth bank, crash, diggers and dealers, essex Lion, fairfax, Fortescue, gold, hurricane Sandy, Interest Rates, Mario Draghi, Mo farrah, NAB, nev power, oroton.qbe, shares, silver, Sirius Resources, woolworths
President Obama is about to face his own New Orleans moment as Hurricane Sandy bares down on NYC…how he handles things and the after math will be front and centre on voters minds for the upcoming election…as it defined George W so it will define Obama…’cometh the man cometh the hour’. Expect some serious disruption to US markets in the next few days despite exchanges being open it still takes people to do stuff…Algo trading and High Frequency trading will dominate..expect some interesting moves perhaps!!!
Our market will open quietly today without a whimper as overnight leads were a little scarce…expect a +5/-5 type of day despite the SPI being up 18..Gold holding and Iron Ore off a smidge…so nothing here…we did get a bit bashed late on Friday as China sunk into the paddy field so maybe we will try to bounce back a bit..we still seem to have good support at lower levels but need some positive catalyst to make any consistent progress..Insurance stocks which have escaped major disasters this year will be reminded once again that weather events have the capacity to turn really nasty…
I am still targeting 4700 for my end of year target and Gold at $2000…however I think 2013 will be a tougher year with a few difficult choices for the US to make and the Zombie crisis set to get worse as Winter chills blow through Spain and Greece.
Idea of the day PXS:
Here’s a sector we haven’t looked at for a while but PXS had some good results on Friday and although the stock was stronger there should be more to come..NICE which is the UK drug administration recommended that Bronchitol be available to all Cystic Fibrosis patients..this is a positive step and will help them with commercial success in Europe and the US…Recommendation buy at 1.32 for a move to 1.60 and beyond!!
Things to make me go all Sandy!!
1.The stars were out trumpeting their favourite candidates with ‘Madge’(Madonna) drawing boos for pushing Obama As Meatloaf hit the stage as gossip website Gawker described his performance as sounding as ”if it were emanating from a dying cat that just had its tail stomped on”, while others urged someone to ”take the words right out of his mouth”. There should be a new reality show..when Good pop stars go bad!!
2. The battle between the board of Whitehaven Coal and its largest shareholder, coal baron Nathan Tinkler, is intensifying ahead of a looming showdown at Thursday’s annual meeting….gonna be fun!The battle between Good and Evil continues..
3.Chelsea go down 3-2 to Man United with only 9 men and dodgy decisions going against the blues…still top though!!!
4.US economic growth was stronger than forecast with a GDP print at 2%..and consumer confidence hit a five month high…
5.Push back against the Full Monti in Italy as “Tens of thousands of people marched through Rome in a “No Monti Day” on Saturday, some throwing eggs and spraying graffiti to protest against austerity measures introduced by Prime Minister Mario Monti’s government and Silvio gets four years for holding inappropriate parties and not inviting Merkel!
6.UBS feels the wind of change on Investment banking announcing that it will sack 10,000 people…1 in 6 …that’s gotta hurt!!
7. China’s economy will probably rebound in the fourth quarter, Jia Kang, a Ministry of Finance researcher, said at a conference reviewing China’s economic performance in Beijing today.China will achieve its full-year growth target of 7.5 percent and “the rebound in the fourth quarter is likely to extend into next year,” Jia said at the quarterly conference at the China Center for Economic Research, Peking University.
8. Crown Chairman James Packer abandoned all dialogue with Echo Entertainment, owners of the Star casino, with a blunt message that any partnership with the future CWN casino at Barangaroo would now be on his terms. Mr Packer’s toughened stance marks a turnaround from a week ago when the Echo chairman, John O’Neill, declared he had the upper hand in any discussions,
9. And this is scary….Seven West Media: will broaden its data mining activities in the coming year, according to chief sales and digital officer Kurt Burnette. He said the group will seek to bolster its relationship with the audience through initiatives such as its Neuro Insight system, which measures the brainwaves of television viewers..really..seriously?…not sure this would work with most reality shows on Ten, Nine and Seven…..nothing to measure!
10.The biggest scandal in the UK media is gathering more and more pace and the landscape will change forever with this one..it will make the Phone tapping scandal seem a trifle as the BBC is clouded in shame.
A old blind man and his seeing eye dog walked into a store. When he gets in, he starts swinging his dog around. Upset by this, the manager of the store demanded to know what he was doing. The blind man calmly replied, “I’m just lookin’ around.”
Have a good Monday
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