Morning all,

Well once again a little White Swan came swimming by. Despite the Greek ‘debtlock’, the news of the Gaza ceasefire was music to the markets ears! Maybe they were listening to Rocket Man! Anyway whatever they were on, it was positive. Strange to think that the Dow has had its biggest 4 day run in 4 months on the lowest volume of the year. Not really a surprise given that its Turkey time but still a sign that there is a big loss of confidence in capital markets.Money has been leaving the system now for a long time..

‘Zombieland’ markets took Greece in its stride..not sure what happens if they don’t get the money..can they still stay in Europe even though they are bust…and let’s face it they are bust!It is only a matter of time before the people stand up and say they are” Mad as hell and they are not going to take it anymore!”

 

Expect a better day in our markets ,probably just take back what we lost yesterday..risk on today! ASX 200 up 20..BHP,RIO etc up..banks up and TLS going nowhere…

I am optimistic that with so much bad news out there the risk is to the upside. I am hoping we will see Santa revving up the Reindeer for a Xmas rally…Ho Ho Ho!

A few big AGMs today

ACR -AWE – GFF – HZN – MIN – MPO – MRM – NXS – PDN – SBM – SHL – WDS – WOW

Could be fun!!

Idea of the Day

Have to say that yesterdays was a shocker…apologies all those that followed my advice…was talking buying CDD for the bounce ..well got that wrong..  completely..stock dropped another 5%..so here goes nothing..time to buy CDD for the bounce..6.00 will turn out to be good buying in this one…lucky no one listened to me yesterday…

My call from Monday on BDR was much better..had a BUY at 95 ..they are now 103 and I suspect they will go to 1.10…I would be a seller there.

Things to make me go Twinkie!

1.Woody from Zombieland will not be happy as the company that makes Twinkies goes bang! Assets to be sold..end of an era…bad management and Unions to blame..15,000 jobs look like going..not going to help US economy.

2.The fear index or VIX as its known traded with a 14 in front of it last night…there does seem to be massive complacency about the short term future..longer dated volatility is higher but the short dated stuff is really unloved…for those that do not follow the VIX it is a measure of option premium …usually when it is high punters are worried and therefore want to buy options to hedge their positions…in my view when VIX is low it’s time to worry!!Black swan or White swan?You decide!

3.The Big Bogan back in the spotlight today as another one of his companies is liquidated..he’s not having much luck at the moment…I feel sorry for all the little people that have been left out of pocket or out of work…lets hope he can turn things around but for a rich guy he seems to have trouble finding his wallet..must have left it in Singapore!

4.NASA hints at big Mars discovery…maybe they have found Nathan’s wallet or Wayne Swan’s budget surplus cos neither of these two things are on this planet!@!!

5. Australian liquefied natural gas export projects face being shelved if they do not adapt to rising cheap competition, French bank Societe Generale said on Wednesday.The bank said that the prospects of new exporters emerging in the LNG market in the next few years would put make it more difficult for current costly projects, mainly in Australia, to compete.

6.Chelsea sack their manager!!!Another one ..this is getting silly…couple of losses and out you go…tough gig !I expect the compensation package is ok though…

7. Billabong: is mulling a possible float of its e-commerce businesses, including its holding in fast growing fashion site, SurfStich. A public float of a combined online business may result in a valuation of up to $300 million, based on a similar deal in the sector…having lived near the ‘Surfstitch’ store in Mona vale and then seen it migrate on line ..I wish them luck with that one! Valuation looks very stretched in my view… maybe they should join click frenzy ..that worked well!

8.Back to Nathan..sorry last time I promise.. Whitehaven: Major shareholder Nathan Tinkler’s lender over the WHC stake, Farallon Capital, will want comfort that its grip over those shares won’t be lost to liquidators of his private companies if the event may occur. Therefore, one theory circling around is that Farallon could decide to take possession of the WHC stake sooner rather than later. In doing so, however, it would need to ensure it did not breach the 20 per cent takeover threshold.

9.Good to see some serious shareholder activism with many boards feeling the anger of shareholders over excessive remuneration especially coupled with excessive underperformance..there has been a lot of attention on this issue with the so called first strike policy of 25% voting against the pay forcing the company to spill if a year later there is a second strike..the problem I see is the incumbents can still have their heads in the trough for maybe two years before they get pushed out …two years on that sort of money is probably all you need for a while and then there is the compensation package to leave! Maybe Chelsea have got the right idea!!Don’t perform out you go ..no messing about..if the Russian says it’s time to go then pack your bags!!

До свидания!       [dah svee-dah-nee-yah]   10.There is a report on Bloomberg that some stores now have Bionic Mannequins which have cameras inside them to track shoplifters!!!Slightly creepy!!

And finally…..as its Thanksgiving…An industrious turkey farmer was always experimenting with breeding to perfect a better turkey.His family was fond of a leg portion for dinner and there were never enough legs for everyone. After many frustrating attempts, the farmer eventually managed to breed a turkey with six legs. When relating his discovery to his friends at the general store he says: “Well I finally did it! I bred a turkey that has 6 legs!” “That’s fantastic,” they all said. “What does it taste like?” “I don’t know” said the farmer. “I haven’t managed to catch it yet.” Have a good one! Clarence XXXX 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.