Morning all,

Will keep this short and sweet today as I am running late having braved the Sydney traffic to drop my wife and daughter at the airport. How do people cope with that trip. Anyway news is good across the board with rate cuts and better economic numbers plus some noises from Obama on the Fiscal Bluff.

Expect another 20 points today as punters chase the usual subjects, maybe after a slow start .It is a crowded place to be but it is working. Banks and other high yielders will be in demand.Golds not so much..copper stocks may improve following the good run in copper recently.

Unemployment figures today at 11.30 will be more Government fiction as the true problems in the economy continue. Probably a lot of people will have given up looking.

Santa does look like he will be coming this year if only the US can agree on the debt issue which is looking more likely….still fancy 4650 as my target …4750 too big a stretch!

Things to make me go mmm!!

1.Chelsea knocked out of the Champions league. First time a team that is current champions has been knocked out. Shame..must need another manager!

2.Greece has been downgraded and now is in selected default! Meanwhile in ‘Zombieland’ looks like Deutsche bank hid $12bn in losses to avoid bailout!!How much do we trust any of these guys anymore!!!

3.Citigroup cutting another 11,000 jobs across the globe and Apple gets crunched as worries about tablet competition and margin requirements come to the surface. Even STO here in Australia is cutting 100 jobs in SA. Jobs numbers today expected to rise to 5.6%

4.UK economy still in a mess the Chancellor says cuts may need to go 3 years longer than expected!

5.Poor old LYC is facing more activism from environmentalists which are due to be heard in court tomorrow…not sure this issue will ever truly go away.

6.TEN…seriously..come on…another $230m to be raised at 20 cents…won’t solve the issue and the death spiral will continue..why don’t the Billionaires Club just buy the thing lock, stock and two smoking barrels!

Have a good Thursday…normal service will be resumed tomorrow…

Clarence

XXx

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