Morning all,

I will make this short and sweet as I am running very late due to chaos on the roads!!

Anyway the Canberra sideshow continues, Cyprus continues and Uncle Ben is committed to pumping money in ad infinitum. QEIII will be here for a while! Hence the Dow rally.

Futures expiry today so some games to be played but having reached my 4950 target expect a modest rally before trouble again pre Easter. Can be a dodgy time of year for markets so don’t expect the rally to really last. With BHP and RIO on the nose due to Iron Ore gurus predicting that they will have to give it away soon there is so much of it ,it’s hard to see the market really pushing that much higher than say 50050 until Cyprus is sold to the Russian. If Abramovich can buy Chelski then Cyprus should be really easy for some of his friends. Suspect Chelsea may be a bigger economy than Cyprus!

Yield stocks and banks still in favour….even DJS on a 5.5% fully franked yield is starting to look a little attractive especially if they move to soft retailing not electronics and washing machines..fashion is where it is at and better margins. One to have a look at perhaps. Especially as rate cuts help the shopper out there! And there is the property portfolio too!!

And if you are in Sydney or Melbourne I would strongly advise you to beg, steal or borrow a ticket to see Bruce Springsteen..Just amazing.

And finally..the biggest joke of them all at the moment is Canberra..as a good friend of mine wrote today these “guys are clowns looking for a circus”..think they have found it!!

 

That is all!

Clarence

XXX

 

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