Tags

, , , , , , , , , , , , , , , , , , , ,

Morning all,

Small loss last night from the US as Caterpillar results came in below expectations. Faceplant knocked the lights out after hours and rose nearly 20%!But Suspect Caterpillar tells us more about the Global slowdown than Faceplant does. The Dow fell the most in a month, which sounds quite dramatic but it was only 25 points ..which says more about the huge rally it has had this month!! Zombieland land gained as talk is the worst is over…tell em they are dreaming! This one will run and run.

Our market yesterday was looking so perky it wasn’t funny but the not so flash PMI from China was enough to stuff that up. We still closed positive but it remains thin and easy to push around. Options expiry today so may see a few strange moves in stocks as they are drawn to their strike prices. Expect to see some weakness today. Commodities were easier with oil easing and gold falling 1% last night..would expect  a down 15 type of day..as we consolidate above the magic 5000 mark.Aussie dollar is down a cent overnight so this may add to the negative sentiment.

Politics is again centre stage as we await the election with more excitement than a Royal baby. Earnings season will be the focus as we head into August…MacBank has reported this morning as has NCM ..both look ok at first sight. Avid readers(and I know I have some…..Mum?) will know that I have been a fan of NCM at 10.00…it’s been a good ride but think it’s over for the time being..probably ease back to 11.50 where they should be bought again…MQG looks ok and positive comments…securities is still an issue but the funds management biz is going well and they earn a lot of money offshore these days..low dollar helps too..

Remember though we are in buy the dips mode at the moment ..so any weakness in the coming days will be an opportunity to pick up a few favourites.

Idea of the Day

After tipping FMG yesterday it was nice to see them go up…in another Iron Ore stock ,AGO reported yesterday and looks to be on the right track..once again overnight the Iron Ore price was higher at 132 bucks a tonne.So all those predicting the end of the road for iron ore are getting a bit nervous..every day that goes by these guys are shipping as much as they can and building big piles of cash..we have a buy on AGO with a target of 2 bucks..now this may be somewhat optimistic but should see 1.10 without too much problem..currently 91 so some upside in this one.

Things to make me go all You’ll never walk alone!

95,000 fans at the MCG last night sand you will never walk alone as Liverpool came to town..Biggest crowd they have ever played in front of..the round ball game is alive and well! 84,000 to see Man Utd in Sydney last weekend.

Jane Austen will be the new face on a 10 pound note after Charles Darwin leaves in 2017 …’sense and sensibility’ to continue to have a woman on the currency.

For the first time ever, Japanese aged 65 and up account for a higher percentage of shoplifting cases than do the country’s teens. Over 65’s now account for 25% of the Japanese population..and its getting worse demographically…and sales of adult nappies now out pace ones for infants..Abe has a challenge for sure.

I talked about BHP too at the beginning of the month and it’s been a goodie in the last 12 days BHP has now rallied almost +$4.00 or +12.7%!

Private sector industry in the Eurozone returned to growth in July, according to a closely-watched survey, boosting hopes that the single currency area will soon emerge from recession. The Markit eurozone Purchasing Managers’ Index (PMI), which measures business output, was 50.4 in July. A figure above 50 indicates expansion. And in Ireland residential property prices have posted their first annual rise since the financial crisis began. Ireland’s central statistics office reported that property prices rose by 1.2% in June, on a year-on-year basis. That’s the first rise since January 2008.Estate agents, though, report an uneven recovery – with prices up around 15% in Dublin in the last year.

Energy World Says they were unaware of any unannounced information in response to price query; shares rose to 15-month. high yesterday, up 59% this month. Looks like a leek somewhere…same with Decmil on the announcement of their contract win to build the Gulags for Kev13…Stalag Kev13 they will be called…he knocked down Stalag Kev07 after all.

McMillan Shakespeare shares are going to get walloped today after the firm’s self-imposed one-week suspension from trading is lifted. They last traded at $15.36 after dropping $2.64, or 17 per cent, in half a day on July 16 before trading was halted at management’s request. On that day Chris Bowen announced a radical change to the fringe benefits tax on novated vehicle leases.the opening looks to be at 8.00 on the match out at the moment..at that price they should be bought…let’s face it as soon as Abbott gets into the Lodge this new legislation will be toast and back to normal!!!And he is still odds on to romp home…PNG or no PNG!

Seven Group  Caterpillar cuts 2013 earnings forecast as mining equipment demand drops; Seven owns WesTrac, a Caterpillar dealer in Australia and China.

South Korea’s economy grew the most in nine quarters, on stronger government spending and private consumption even as a slowdown in China clouds the outlook.

Gross domestic product rose 1.1 percent in April-to-June from the previous quarter after 0.8 percent growth in January-to-March, the Bank of Korea said today in a statement in Seoul.

About 11 million U.S. students who need to borrow to cover their college costs would pay 3.86 percent on their next loans under legislation now headed for final passage by Congress. Opponents of the measure such as Senator Elizabeth Warren, a Massachusetts Democrat, argued that it did little to make college more affordable or reduce the almost $1.2 trillion in student debt. Eighty-five percent of that debt is made up of government-backed loans; the rest were made by private lenders such as SLM Corp. (SLM), commonly known as Sallie Mae.

And finally….in the spirit of Georges birth

ITS A BOY” I shouted “A BOY, I DON’T BELIEVE IT, ITS A BOY”

And with tears streaming down my face I swore I’d never visit another
Thai Brothel!!!

Have a great 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.

Get a Global take on things at www.ntmarkets.com

Get a Global take on things at http://www.ntmarkets.com

 

coyote over thin air

Advertisements