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Morning all,

Will they, won’t they? Taper or not? Dissention in the ranks eh? How can that be a surprise eh? For month s we have had Fed Chiefs speaking out against each other …anyway the taper is definitely on the cards and we have to get used to it. Jackson Hole kicks in without its main protagonist in the next few days..I am sure QEIII will be on the cards..Canadians hate it…gonna go tough on the US and withdraw Celine Dion from Vegas if they don’t stop!

Overnight markets were weaker as Fed Talk took its toll…Zombieland eased back too as it had its longest losing streak since Erica Roe enchanted the crowds at Twickenham in 1982!I still have fond mamories.

Loads of results again this morning to keep analysts beavering away…FXJ ,SWM,CTX,PBG,,BXB and a big rise for IAG and a doubling of dividend!! Gotta love that..ASX too..loads in fact..too many to talk about…

So today we should back and fill..can’t help feeling that we are due for a bit of a wake up call..Asia has been really struggling especially in currencies where they have had a few meltdowns.US has fallen back below 15000 and Zombieland has reversed all engines but we have stayed stubbornly high…it is results season and we are pregnant with dividends but I am starting to get concerned about what happens when Tony wins and the dividends have all gone..with tapering around the corner and all those computers coming back from their ‘Revenge’ lifestyles in the Hamptons I suspect some caution is required..let’s face it the market has rallied from 4650 to 5100 since Kev13 came back and the fatted calf was trotted out …so it would not be inconceivable that we pull back a bit…Caution is my middle name for the next month….it was Danger but changed it by deed poll!

Idea of the Day

Think I have just said it…Caution ….time to take some money off the table perhaps…

Every now and then I get it right..bit like an infinite amount of Monkeys being able to type Hamlet!!”To be or not to be that is the goosslsopaaottt!”Anyway for those of you who took notice of my little rave about ADJ,they are doing very well..up from 4.3 to 7.1…now they have still yet to officially launched their new killer platform for display ad sales and admin for publishers and agencies, but reading the blurb from REA and CRZ, you can see what a huge part of their revenue is display ads…anyway would expect more gains but maybe need to pullback a little…chart has gone vertical…

One of my other favourites MOC has reported today..nothing spectacular but it’s not that sort of business..slow and steady and a good yield 13 c fully franked annually…5% fully franked but probably time to ease off..there are other things out there with more growth perhaps with better yields…although still like it but at 270 ish its had a great run!!Time to take some profits I suspect.

Things to make me go mmmmm!(Note to self ..must stop listening to Nick Cave on the bus it makes me too negative!!)

1.“Does this guy ever shut up?” A Mark Latham/ John Howard handshake moment…no…but what we are all thinking!!!maybe for both of err them!

2.Shane Watson has a ball!!Great innings but too late..probably be all out for 320 anyway!!!

3.Premier League underway…Go the Special One!!

4.Extraordinary front page from Sydney UNI as well with a picture of 20 female private parts on the cover…gotta love a UNI education!

5.Suspect BHP will be watching this one like a Petrohawk…hopefully not with the same outcome as they look to expand in Potash.. A dispute between the former Soviet Union’s two largest potash producers shows little sign of being resolved quickly as predictions that the commodity’s price will plunge roil the $20 billion market.A pact between Belarus’s Belaruskali and OAO Uralkali (URKA) in Russia helped to buttress prices for eight years in the global market for potash, a vital nutrient for corn and soybeans. That partnership fell apart at the end of July when Uralkali accused the other producer of undermining their sales accord.

6.The have and the have nots…massive difference in the US.. After a lifetime of working, the median Boomer household has managed to accumulate $12,000 of retirement savings. That means that 50% have even less than $12,000 for their retirement.And let’s not get started about the massive state and federal unfunded pension liabilities either…

7.And in great healthcare news courtesey of Obamacare, UPS announced that due to the higher costs, they will drop 15,000 spouses from its health insurance plan.Apparently 35% of other companies are planning to do the same..

8.Now I am a bit of a fan of ViceTV..no its not porn…that’s a different channel but it is a different view of the world, much like porn I guess…anyway they are all up on youtube and are documentaires that you will not see on mainstream media..some of them are truly scary..watching some of the US is the most frightening though as it is supposed to be the richest country in the universe…I needed subtitles to understand what they were saying…the classic one I watched about the KKK in Mississippi was just comical..the black gangs didn’t rally the day of the meeting because it was raining!!!!

9.The general manager of Fanxin, China’s largest insurance dealer, has been arrested (after fleeing the country with CNY 500 million) and the entire industry is now under close scrutiny after regulators found that the company was selling unauthorized fixed-income financial agreements. Fanxin offered huge commissions to its staff to sell ‘wealth management products’ that were merely used to buy more insurance products in what appears a ponzi-like scheme.

10.Beach Energy has announced that’s it’s Keppel-1 well encountered “strong gas influx” during drilling…sounds painful!!!

And finally..my thanks to the legion of clients who have been sending jokes …this is a classic …thanks Hans!

You might recall that John Hinckley was a seriously deranged  young  man who shot President Reagan in 1981. Hinckley was absolutely obsessed with movie star Jodie Foster and, in his twisted mind, loved Jodie to the point that to make himself well known to her, he attempted to assassinate President Reagan.

There is speculation Hinckley may soon be released as having been rehabilitated. Consequently, you will appreciate the following letter from Nancy Reagan to John Hinckley. We could  all learn so much from this elegant and gracious lady:

To: John Hinckley

From: Mrs. Nancy Reagan

    My family and I wanted to drop you a short note to tell you how pleased we are with the great strides you are making in your recovery.

In our country’s spirit of understanding and forgiveness, we want you to know that we bear no grudge against you for shooting Ronnie.

    We are fully aware that mental stress and pain could have driven you to such an act of desperation. We’re confident that you will soon make a complete recovery and return to  your family to join the world again as a healthy and productive man.

Best wishes,

Nancy Reagan & Family

    P.S. While you have been incarcerated, Barack Obama has been banging Jodie Foster like a screen door in a tornado. You might want to look into that.

Have a great day

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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