Morning all,

Great finish for the Dow as Turkey time is celebrated with a big whoosh! Everything in the garden is rosy..along came that White Swan…better economic numbers from Germany, business confidence up but still no news on Greece,although the IMF and The ECB are pushing for debt write offs to get them on a firmer footing….inevitable really… From Spain over the weekend the Catalonians voted in the first step towards independence from the rest of Spain..Now this looks like a messy divorce in the makings to me..and usually the only people who win in divorces are the lawyers so bear that in mind Catalonia!Why is this important..well Catalonia supplies 20% on Spanish GDP…it’s a big part of the economy..if it goes its own way then that will further complicate matters for Raujoy!!Tough gig!!

Anyway Commodities rallied, equity markets rallied so expect a good day here today…of course we will wimp out from the early gains and then mill around until an overseas market tells us what to do next but if we can get more positive news on the Cliff and some Troika agreement on Greece then we may see Santa after all. Fingers crossed.Voume is still on the low side..in fact on Friday we only managed $2.4bn..anyone would have thought it was Thanksgiving here…

Expect an up 35 type of day on the open back to 20 up then rally again to close up 30!Gold shares should shine today as the Precious Metal bounded ahead on thoughts that Central Banks will spend big on Xmas…

Idea of the Day 

LYC: I wrote this one up on Friday for four reasons.. thinking about it on the weekend I feel that this could be a 25% trade by Xmas…there will be a road block at 75 as it’s the placement price but if that can be breeched then I think 85 is a distinct possibility very quickly…maybe higher…if you like living on the edge a bit then this one offers some good potential as it rerates…Nick Curtis (Head of LYC) is impressive and knows how to get stuff done…I think he will ensure this happens!

Buy LYC at 70/71 for a move to 85!!High Risk ..high reward…’Who Dares Wins Rodney!’(Only Fools and Horses)

Things to make me go all Mick, Keith, Ronnie and Charlie!

1.Stones play their first Gig in the UK for 5 years…wish I could have been there..Mick asked how was it in the cheap seats? Not sure they were that cheap Mick!!

2.Things are getting interesting in Egypt…the latest Pharoah has introduced some sweeping powers which some have named Islamofacism…the stock exchange plunged 10% in its last session..riots in the streets as opposition forces rebel against new grab of powers..Military rule seems to be a dim happy memory now compared to the new regime of Mursi!! This story will get bigger and we may have a Arab Autumn! The people only wanted Bread ,Freedom and social justice..not even sure they got one out of three!This is going to be a big story in the coming months..will help Gold and Oil higher!!

3.And here’s a clue to why Japan is mired in recession and will be for some time to come!!Adult nappies have outsold baby nappies for the first time..there are two things wrong with this..one what the heck are adult nappies and why would anyone wear them.

4.Its AGM season again this week with around 500 companies keeping Stephen Mayne busy..he will be at all the meetings and voting against every remuneration package..I don’t know how he finds the time..crikey indeed!

5.Black Friday wasn’t what it used to be with US Retailers starting early and a rush to online(DJs Take note!!!)..Black Friday is so called as it’s the day that Retailers turn profitable in the US red to black…bit sad that it takes to Thanksgiving to turn a profit!!

6. Santos: plans to collaborate with rivals to cut costs as rising expenses threaten $156 billion of developments proposed by the industry in Australia. “We’re all working together to see how we can drive costs out collectively and lots of things are being considered,” Chief Executive Officer David Knox said. He added “Costs in Australia are extremely high and it is a concern,”

7.The Rinehart cowgirl launches her new book in Australia…I heard a rumour that she has paid for the Gideon society to pop one in every hotel bed room….good night time reading in times of stress and after the mini bar has run out!! gonna be a best seller one way or another!!

8. Ten Network: A reduction the company’s advertising rates could reduce its revenue for fiscal 2013 by between $A73m and $A109m. It is believed to have reduced its base rate by 6-8 per cent in group-level discussions, but this could rise to 10-15 when it begins client-level talks. TEN has been forced to offer large discounts to advertisers following disappointing ratings in 2012. Seven and Nine are said to be seeking base rate increases of 3-5 per cent and 6-8 per cent respectively

9.Chelsea draw and Benitez booed by the fans…Di Mateo did a good job…

10.End of an Era as JR dies…he will dream of Genie I am sure..RIP Larry…loved your show in the eighties..who can forget the drink along with Dallas parties…Sue Ellen you are responsible for a lot of my hangovers!!!

And finally…..

A guy is down on his luck. He takes his last $500 and goes to Las Vegas.
Overnight, he has a fantastic run of luck. He stumbles out of the casino and finds a pay phone.

He calls his wife and says, “Honey, pack your bags, I just won over a million dollars in Vegas.”

His wife say, “That’s wonderful, What should I pack for …. Europe, Asia, the Caribbean?”

He says, “I don’t care, just be gone when I get home.”

Enjoy your Monday

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.