Morning all,

After spending a lovely long weekend in Byron Bay ,its back to reality. Not sure it is reality but  Xmas seems to be in the wind as the US rallies on hopes for a solution..we all know they are going to cobble together something at the last minute and be hailed as heroes of economic negotiation. They want their moment in the sun though so there will still be more toing and froing to come but the deal will be done..so US up 100 and we will follow suit with an up 20 type day but low volume and thin…its Xmas week and the only thing really important is the Option Expiry on Thursday..that and my daughters HSC results that is!!

Expect banks to perform a bit better today as US Financials perked up …Only 4 trading days to go to reach my 4650 target so it’s gonna need a push but still possible if everyone closes their eyes and wishes really,really hard…of course banks and resources need to fire at once but could happen!!let’s face it if you believe in Santa anything is possible..

Idea of the day

Still like AGO on the better Iron Ore price..buy here for a move back up to 185-190…

FXJ-Great thing to do sell Trade Me…this one will be 60 by March…could never really understand the attraction of Trade Me ..looks like Ebay with another name..surely Ebay can crush them whenever!..good sale guys …

Things to make me go mmmmm!

1.Having spent a weekend in Byron it’s safe to say that most up there do believe that the end of the World as we know it is coming on Friday! I’ve made plans for the weekend so I am an optimist!

2.Iron ore has quietly crept up to nearly $130 a tonne ..at this rate the Government may even collect some Mining Tax!!Super profits back on the agenda..or just a short squeeze..we shall see but the rumours of Iron Ores demise by the experts seems to have been slightly misjudged!!

3.The World’s biggest company Apple hits $500 then bounces…now I got bearish in these babies around $700 as I had trouble with installing some upgrades and took one look at the Iphone 5 and said why? Isnt this 4 good enough for me…so I am still a bear…despite the bounce…I think that these guys are struggling to come up with something that is a game changer again..everyone has copied them and learnt from them..they need to be the leaders not the followers…anyway sub $500 my call…don’t buy til they get to $450!

4.On this day in 1843 A Christmas Carol was published! Bah! Humbug !

5.

6.Good to see Mark Bouris and Jamie packer joining forces to deliver presents for Xmas in their little automatic boxes…I know having stuff delivered to the Post Office is a pain but why not just put your office address instead..sorted!

7.The Billabong sags has taken another turn with US Chief lobbing a bod on the table to upset laura’s plans…just when Parko has won the Surf Championship too…starying to look like two bald blokes fighting over a comb but there is huge potential in turning this around and surely the bloke to do it is the guy who ran their US business so well that that’s what got them to where they are today!!

8.FMG looking to sell off large swags of its infrastructure to reduce debt..Iron Ore decline obviously gave it a serious near death experience and has focussed the company on averting this scenario again!! Stay away from the light!but $130 a tonne Iron Ore certainly helps its recovery!!!

 

And finally…in the US since 1970 1.4 million people have been killed in gun related incidents…that’s more than the US has lost in the last four wars it fought!!

And to end on a brighter note…

Three men die in a car accident Christmas Eve. They all find themselves at the pearly gates waiting to enter Heaven. On entering they must present something “Christmassy”.

The first man searches his pocket, and finds some Mistletoe, so he is allowed in.

The second man presents a cracker, so he is also allowed in.

The third man pulls out a pair of panties.

Confused at this last gesture, St. Peter asks, “How do these represent Christmas?”

The third man answered “They’re Carol’s.”

 

 

I am going to be writing a brief note every day this week but then will be off Until Mid-January..but will be watching the market everyday..cos that’s what I do regardless!! Hard habbit to break!!

 

Have a good day…

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.