Morning all,

After a little break I am back…I am sure you all missed me! Well maybe? Maybe the jokes then…the one good thing about taking a two week break is the amount of jokes I now have stockpiled from my enthusiastic readers..thank you so much…it’s the hardest part of writing this rant ,finding the jokes!

So what’s changed in 2 weeks…well I guess its enthusiasm..I could go on about the US shutdown and upcoming debt default but it’s all over the press so I am going to struggle to say anything remotely new or interesting…think the sentiments below sum it up beautifully!!!

winchester

 

Commodities weaker…Gold weaker..dollar looking like it has parity in the coming months maybe!!!nearly 95 now…Think the RBA will have to start jaw boning the dollar down again…not sure they want to stoke the housing fires anymore!!!Pretty red hot already! NO MORE RATE CUTS!!!

 

So last night we had a weaker Zombieland and a slightly better US as Yellen gets the nod to become the first Female Fed Chief in history! A Black President and a female Fed Chief…the times are truly a changing!

Ben User Manual

Thanks Zerohedge.com

Our market did well yesterday in the face of all this uncertainty…pretty much unchanged!!Volume was pretty woeful though…punters confined to the sidelines content to watch and wait…Winchester anyone?

As you will know I have been a cautious bull for a while now and have been pushing the pullback story before a Santa Claus rally….well I think this is the pullback …its October after all so good month for a pullback..think we will see around 5050 perhaps this month..few bad days and we are there…ultimately though the US will NOT default and business will return to normal by November /December…Santa Claus will still be around.

Idea of the Day

Good to see my recommendation of AGO hitting 97 yesterday..think I talked about them at 81/82 for a move to 1.10…on its way…good stuff….so what’s next to buy…patience Grasshopper…things may get more nervous in coming days and an  opportunity will arise…

Things to make me go mmmmmm!

Must admit I am a bit confused..how is it that the World’s most powerful man who can kill you with a thought, or at least a drone, can’t even get his credit card limit increased…edifying example to the rest of the World!No chance for me then!!!

Good to see the snouts still in the trough in the US..when asked if he was still getting paid despite the Government slowdown.. Dang straight,” barked Rep. Lee Terry. “I’ve got a nice house and a kid in college,” the Nebraska Republican said. “Giving our paycheck away when you still worked and earned it? That’s just not going to fly,” Terry told his constituents.

Here we are a month on from Tony ascension and thankfully the sky hasn’t fallen in yet..actually nothing much has changed ..except politics is out of the media…not a bad thing..gag order is working..

PMP Limited is hoping to raise $40 million through a bond issue to self-managed super funds and high net worth investors, raising questions about the suitability of higher risk investments for retirement savings.

Worley Parsons CEO Andrew Wood has seized on Leighton Holdings’ bribery allegations to stress his global engineering group will not tolerate any form of corrupt practices. Amid concerns the scandal could damage Worley Parsons’ reputation, Mr Wood told investors that ethical behaviour was “paramount” to the company’s success.

The Australian Bureau of Statistics releases September labour force data at 1130 on Thursday, with economists expecting the unemployment rate to remain at 5.8 per cent.Hockey will blame Labour of course!!

FOMC minutes released yesterday revealed how close a call it was to Taper!..looks like 2013 will still be the start of the Taper..if they can only restart the Government and agree to the debt invisible glass ceiling…

US has stopped funding the coup in Egypt!!It has decided to “recalibrate assistance to Egypt to best advance US interests.” Wants a democratically elected Government..don’t we all!

VIX(fear Index) off a bit last night but pushing 20 which is pretty high in the new normal.

And if you though the banks and Harvey Norman were good at gouging on rates think about this … some Cash Converters borrowers paid interest rates to the equivalent of 633 per cent on some loans, despite laws in NSW capping rates at 48 per cent. WOW!! No wonder they are getting sued!!That’s more than my credit card chargers..only just I know …

And finally…..

WHY MEN WEAR EARRINGS:

Did you ever wonder why earrings became so popular with men?

A man is at work one day when he notices that his co-worker is wearing an earring.  The man knows his co-worker to be a normally conservative fellow, and is

Curious about his sudden change in “fashion sense”.  The man walks up to him and says, “I didn’t know you were into earrings.”

“Don’t make such a big deal, it’s only an earring,” he replies sheepishly.

His friend falls silent for a few minutes, but then his curiosity prods him to ask, “So, how long have you been wearing one?”

“Ever since my wife found it in my car.”

Have a great day..stay hydrated..it’s gonna be a scorcher!!

 Clarence

XXXXXX

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

Advertisements