Australian Sharemarket, Ben Bernanke, BHP, cba, Charlie aitken, commonwealth bank, CPU, crash, diggers and dealers, ECB, essendon, essex Lion, fairfax, Fortescue, gold, Interest Rates, miley cyrus, powell, syria.usa, telstra, Whitehaven Tinkler coal bid cash
Not sure which is the bigger story today Essendon or Syria? Or even Miley Cyrus? Interesting that the New York Times is accusing Syria of attacking their web site..years ago terrorists attacked physical things like the World Trade Centre..now it’s a web site..freelancer has a lot to answer for..anyway last night the markets finally capitulated as the risks mount..a strike at Syria is somewhat unsettling to say the least..could go anywhere especially as Syria is backed by Russia and all that oil..it’s not like Egypt is a model state these days..Suez Canal issue, Middle East security issues only helping Gold and oil…now I know that gassing your own people is a pretty terrible and tragic way to run a country but launching missiles against a sovereign nation is the same as declaring war isn’t it? US has not had a great record recently..Iraq, Afghanistan and Vietnam…anyway maybe I should concentrate on the markets and leave the statesmanship to leaders like Kev13..is it just me or does he look really old and tired these days…lost all that new kid charm!
Over the last week I have been urging caution..risks are mounting…let me count the ways.
3.Greek Bailout/Italian Parliament debacle
6.Indian currency crisis
7.Asian Currency crisis
8.Brazilian Currency crisis
9.Australian Election leadership crisis!
10.ASX 200 going Ex-Dividend
11.Rising inflation in US
12.Rising interest rates in US.
And these are just the ones I can think of this morning.
So as we held around 5150 yesterday thanks primarily to the strength in the banks and especially CBA on special dividend hopes I am happy to lock in some profits,buy some insurance,defer buying a few things and wait until some of these issues are settled.
Gold had a great night though so may be the one bright spot..probably test 5100 again…market does look a bit tired to say the least..kudos for guessing where this quote is from..I’ll give you a clue..was sung by a woman in a comedy film…” I’m tired, tired of playing the game. Ain’t it a cwying shame? I’m so tired. Goddammit, I’m exhausted.”
Talked about PUT buying last week..won’t harp on about it..you either insure or you don’t ..your choice.
Idea of the Day
Had the pleasure of seeing APN up close and personal yesterday and although a long winded meeting I was pretty impressed with the new head honcho Michael Miller..Only two months into the job but he has a great grasp of what is required..it’s a buy for sure..rationalisation and focus is the key..no more duplication and write an article once goes to multiple platforms and multiple publications.Target price 50 cents as the new guy starts to implement his plans..
Things to make me go mmmmmm…
Why didn’t the US or its allies intervene in all the atrocities in Africa..Easy No Oil!!
“When you decide to get involved in a military operation in a place like Syria, you’ve got to be prepared, as we learned from Iraq and Afghanistan, to become the government, and I’m not sure any country, either the United States or I don’t hear of anyone else, who’s willing to take on that responsibility.” Colin Powell
An ugly day all around…
30Y Treasury yield – biggest 4-day yield compression in 15 months
Dow Transports – biggest single-day loss in ~5 months (2nd worst in 11 months)
NASDARK – 2nd worst day in 10 months
AAPL – worst day in 3 months (2nd worst day of 2013)
USDJPY – biggest gain in JPY in 10 weeks
WTI – biggest single-day gain in 10 months
Financials – worst day in 10 months
Good to see that “Moaning Mertle” has blamed letting Greece into the Zombie club on her predecessor Gerhard Schroeder.Plays well with the election in Germany..nah, not my fault..it was the other guy!
Have to love this election campaign..does anyone care anymore..except for the media that is as they need stories!!The rest of us have switched off months ago…Abbott not only is going to stop the boats but he is goiong to buy those that haven’t even put to sea whilst Kev13 is going to move the boats to Brisbane..and now Abbott is going to pay long term unemployed(ie Stockbrokers) to stay in their jobs…great work Tony but how do they get jobs to stay in..that’s a harder task..
Seems that the Tony Ferguson Slimming company has collapsed and gone into administration…wouldn’t have thought that was a high risk biz…just shows you I guess..good brand and good marketing don’t mean a thing if it ain’t got that ring..
Billagone finally have admitted that their flagship brand and namesake is worth zip..could have told them that..no one wears it anymore..it’s too daggy..I mean I wear it..must be daggy.
Fairfax Media has gained a second new substantial shareholder in less than a week, as a broker renews its call for a break-up of the group. UBS has emerged with 5 per cent of Fairfax’s shares through a consolidated position across a number of the bank’s local and global entities.
Investec Group formally told clients on Tuesday morning that it had rationalised its Asia-Pacific region equities business and closed its Australian-based equities operations.
Myer has reshuffled senior management roles but says the moves are aimed at cutting costs and streamlining processes rather than succession planning. Myer’s general manager of marketing and brand development, Megan Foster, who was considered to be one of three potential internal candidates to succeed CEO Bernie Brookes when he retires next August, has moved into a new role.
OJ Simpson has had his house repossessed as he languishes behind bars…he is in the big house for 33 years so he probably won’t miss it…
And yesterday it was reported that a Saudi Prince and chief spy master met with Putin to discuss Russia giving up its support of Syria in exchange for multiple goodies and a guarantee of no Chechen Terrorist attacks at the Winter Olympics..lovely blokes these guys..Putin said Nyet!!
And finally…..as Governments try to woo the Small Business person…
The Australian Taxation Office suspected a fishing boat owner wasn’t paying proper wages to his deckhand and sent an agent to investigate him.
ATO AUDITOR: “I need a list of your employees and how much you pay them”.
Boat Owner: “Well, there’s Clarence, my deckhand, he’s been with me for 3 years. I pay him $1,000 a week plus free room and board. Then there’s the mentally challenged guy. He works about 18 hours every day and does about 90% of the work around here. He makes about $10 per week, pays his own room and board, and I buy him a bottle of Bundaberg rum and a dozen Crown Lagers every Saturday night so he can cope with life. He also gets to sleep with my wife occasionally”.
ATO AUDITOR: “That’s the guy I want to talk to – the mentally challenged one”.
Boat Owner: “That’ll be me. What’d you want to know”?
Have a great day
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