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Morning all,

Yesterday was a horror show..no one was spared…having said that no was really that concerned either..Tokyo drift set things off ,that and the fear of the tapering!!They should make a movie out of it..”THE TAPERING-In case no can hear you scream!”…anyway volume remained confined to computers and their metal friends but we did look a little stretched….seems everyone is convinced the US will scale back its money printing in September..

We remain in Election mode..the market seems to have gone into earnings and caretaker mode too..was a little wrong in my call yesterday…thought we would be a bit easier but was surprised to see us ring up a Captains Knock…100 not bad!!

Anyway today won’t be as bad..in fact we may try to rally a bit..TLS numbers good so will make those looking for yield sit up and take note..$3.9bn and up 12%..pretty darn good if you ask me!!

I would be using this pullback to pick up a few things..with rates falling the banks and other yield plays continue to look attractive and you know what even boring non growth stocks can surprise..take TLS..go on I know you want to …

And as Trading Places celebrates its 30th anniversary..it’s good to remember the wise words of Louis Winthorpe III..”Buy Low, Sell High..fear that’s the other guys problem”..it goes on to say that ‘Nothing you have ever experienced will prepare you for the absolute carnage you are about to witness”..well let’s hope not!

Idea of the Day

 

In recent days the share price of FSF has taken a hit due to a botulism scare in China..it has emerged that Perpetual have used this scare to increase their holdings..might be worth a good look around 6.20 as it is sure to recover more and milk the benefit of a rapidly growing middle class around Asia and a demand for dairy products…would be a buyer..they picked up theirs well below 6 bucks so they did well…

My tip yesterday on MOC held up really well…everything else got smashed..but the weight of money looking for real estate is a huge boom for these guys…refinancing and new loans..great distribution network and strategic asset for someone perhaps…remain a fan!!

Things to make me go all Carney!

1.Last night the new man on the job at the BOE broke with tradition,bloody Canadians,and issued “forward guidance”.This was basically the stet of circumstnaces when he would stop Central Bank money printing…he concentrated on the headline jobless rate with a  few provisos…inflation etc ..but a strange one in Liverpool to win a major trophy!I mean like that is going to happen..The good news was he revised the UK forecast GDP up to a massive 2.7%!!!Green shoots ….goalie saves!

2.TLS numbers out this morning ..look ok ..no dividend increase though..disappointed a little..but they say there is room for increase in future…have been saying for some time that these guys are doing well…looks like I am right..killing it in mobile data and new customers..you should all own some..remember Cecil Rhodes he got rich by supplying stuff to a new industry..much TLS in the new wireless world..we are all addicted just got to look around and everyones head is always in their phone..music to TLS ears..we need another asbestos scare to get them down so those that missed out can buy some!!

 

3.Congratulations to the boys here as they put away a $150m capital raising for KAR..well done…

4.Woodside Petroleum’s once in a decade” chance to enter the giant Leviathan gas field off Israel is under pressure, with potential local partners saying they are in talks to export the gas through pipelines to a host of neighbouring countries and that liquefied natural gas exports are only a possibility. Nine months after Woodside chief Peter Coleman signed a $US1.3 billion-plus ($1.45bn) deal to enter the field and operate an LNG plant, the deal has not become binding, and an initial $US696 million payment has not been made.

5. Potash Corp: of Saskatchewan CEO Bill Doyle said he doesn’t expect the breakup of Belarusian Potash Co to last long, and he disputed predictions that the breakup would spur a steep potash price drop. Doyle, who heads up the world’s largest potash producer by capacity, was making his first public comments since Russia’s Uralkali OAO exited BPC last week in a dispute with partner Belaruskali, a move that sparked a broad selloff in shares of companies that sell the crop nutrient potash.

6.Good to see Obama snubbing Russian for the Snowden affair..now if we could just wrestle the Winter Olympics off them for their Human rights policy.

 

7.Tokyo ,we have a problem…Tepco have finally admitted they have a real big issue…Fukushima is leaking again badly!!

8.Meanwhile in the real world, Michael Clarke has defended both teams for trying to cheat the hot spot technology with a polymer covering on the bats..used to be called Linseed oil…

9.I really do despair sometimes..having been told by BRU continually that they will not raise any money …they don’t need it..guess what they are in a halt pending a raising..no wonder some of these blokes struggle to get their message out there..hopefully it is a farm in from outsiders rather than a placement..farm in positive..placement negative..simples!

And finally..hit the $1000 level for City to Surf…yippeeee…Big Thank You to all my sponsors..great cause..hammy sore so will be a fun few hours on Sunday!!My wife told me last night that we had arranged a Harbour walk with friends on Sunday afternoon …Don’t think so!!

 

And today’s funny…..

I got sacked last night from the Salvation Army soup kitchen, the ungrateful bastards.

All I said was, ‘Hurry up for Christ’s sake ……… Some of us have got homes to go to!’

Have a great day..on Sky at 6.30 am tomorrow morning!!

Clarence

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

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.

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