Morning all,

Good to see the markets heading higher again..expect a modest gain but the huge moves in stocks like JBH on medicre results shows how dangerous it is to be short stocks…one of my favourites that I have been banging on about for a while is FXJ..third largest short stock position…now the first piece of better news from this media giant will light the blue touch paper…I was pushing these babies from low 40’s but I think there is more gas in the tank..anyway G7 meeting and Obama State of the Union address will combine to add a few positive flourishes to the market…Dow nearly at an all time high…our market now 5000…as you all know I have been bullish for some time and have been talking 5000 for a while…its been a good ride and the weight of money seems to be ploughing into equities..so is it too late to get in or should we take profits???…there is still money to be made out there…the easy runs have been made by the openers but the middle order and  the tail enders can still pile on the runs…

The only thing that really stiks in the back of my mind is the lack of really healthy volume still..US should be buzzing with punters as we approach the all time high,we should be doing $5bn days not 3…there is a lack of integrity and confidence in financial markets..hardly surprising given the levels of scandals that hit the institutions…it will take some time to restore confidence and the banks that are too big to jail will work hard to gain trust…good luck s guys…and here the country cannot even trust the food chain…first the banks now major food suppliers…who you gonna call…Ghostbusters!!

 

Just been listening to the UK news..Barclays Bank is sacking nearly 4000 people despite making 7bn pounds…shares up 9%…2 year high…..quite a different experience going into a high street UK bank…they do seem to be a long way behind the technology that we have in Australia….they still check your signature for small purchases!!!no tap and go and no real push into apps and other things…maybe our banks do have an edge…still 7bn is a lot of money to make!!!

Anyway continue to enjoy the ride….

A few results out today  include Commonwealth Bank, Stockland, Boral, Leighton and Ansell.

CSL just out…CSL’s first half profit is up 24 per cent and the company expects to lift its full year profit by about 20 per cent.

The blood products and vaccine maker made a net profit of $US627 million in the six months to December 31, up from $483 million in the previous corresponding period.

Still in the UK looking after my mother but back in a week….Andrew is always on the end of the phone and always helpful.

And finally…

This year has seen the coldest winter since records began for countries in the northern hemisphere. It’s been so cold that numerous politicians have actually been seen with their hands in their own pockets.

AND ……….”A man loses his dog, so he puts an ad in the paper. And the ad says, “Here, boy!”

Clarence

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