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Morning all,

Last night gold got whacked again and at one stage the fall was so violent that the Comex exchange had to suspend trading for 20 secs for things to catch up.actually it now has had to suspend trading twice..seems the death Cross that occurred this week was a sign..will touch 1200 soon at this rate..not been a good year for gold. Worse performance since 2000 and down 24% for the year.Expect some more bloodshed today from the gold stocks..

 

9-23-12-bear-not-yet

So the question is why…seems the Fed still has Taper on the agenda and could be as soon as December.(say it ain’t so) That would be a lovely yuletide gift for the market..no wonder investors are taking profits ..seems getting all the Fed chiefs to sing from the same song sheet is getting harder than herding cats…last night the increasingly schizophrenia Fed came out with these minutes from their FOMC meeting..

*FOMC SAW `SEVERAL SIGNIFICANT RISKS’ REMAINING FOR ECONOMY

*FED TAPER LIKELY IN COMING MONTHS ON BETTER DATA, MINUTES SHOW

*FOMC SAW DOWNSIDE RISKS TO ECONOMY, LABOR MARKET `DIMINISHED’

*FOMC SAW CONSUMER SENTIMENT REMAINING `UNUSUALLY LOW’

*FOMC SAW RECOVERY IN HOUSING AS HAVING `SLOWED SOMEWHAT’

And all this while more and more commentators are talking about bubbles…maybe they are West Ham supporters..”I’m forever blowing bubbles..pretty bubbles in the air”(it’s a soccer thing perhaps)

And so to our market where we will continue to back and fill as the engine room stalls..lousy news from AGM’s and profit warnings from the likes of WOR do nothing to engender confidence…I mean WOR is supposed to be a blue chip..it’s not a spec stock yet they fall 25% in a day!!!!That’s just how we roll these days I am afraid.

Idea of the Day

Nice to see the GOR that I talked about yesterday have a significant move up 20%!!!Anyway I suspect there is more to come but this period of gold weakness may be a good time to pick up some around 10 cents if they fall back today.

As the IPO season hits there will be a few underwriters and brokers out there getting a bit worried that the market will fall apart before they can unload to the investing public. Clenched cheeks everyone…Taper talk could bring a disappointing suboptimal beneath KPI outcome for those involved..just getting used to management speech…

So as the engine of the market stalls..ie the banks and the resource stock come under pressure again I will suggest a few micro cap punts for the 2014 year…

I have a couple of potential here..GOR we talked about yesterday look interesting..RTD I am seeing later today but they are an oil and gas company in Alaska who get a huge 85% rebate on their drilling and they are in elephant country…good local partner and a 2014/2015 drilling progam being lined up now..…I think if you want some micro oil exposure this one could be worth a look..currently in a trading halt as they are raising some money but maybe worth picking some up during the capital raising period……and lastly in BioTech Land PAB impressed me at the conference the other day..

Now all these are speculative and if the bus crashes these will crash spectacularly so it’s not worth an all in bet but keep them on your watch list and maybe have a nibble…

 

I will write up a bigger splurge on RTD tomorrow after I see them

Things to make me go mmmmm!

Ashes to Ashes, funk to funky, we know Major Tom’s a junkie! Cant believe we are back with Test cricket so soon!

Sure this was a character in the Adams family,( Pugsley’s Pet Jaguar) but an Official called Fang has been out and about talking Chinese banks…

*CHINA SHADOW-FINANCE RISKS WILL SPREAD TO BANKS, FANG SAYS

*VERY BIG CHANCE ONE OR TWO SMALL CHINA BANKS WILL FAIL: FANG

*SOME CHINA TRUST INVESTMENT FIRMS MAY FAIL, SELL ASSETS: FANG

*CHINA MUST PLAN FOR BANK-FAIL SCENARIOS TO MANAGE RISKS: FANG

 

Didn’t know it could talk!

 

Wendy Deng gets $1.7bn for divorcing Rupert!!

Aussie dollar tumbles half a cent on taper talk !!And talking of the Adams family Uncle Fester will give a speech tonight to the Australian Business Economists Annual Dinner in Sydney..that should be a huge night…all those economists in a room. …..Three econometricians went out hunting, and came across a large deer. The first econometrician fired, but missed, by a meter to the left. The second econometrician fired, but also missed, by a meter to the right. The third econometrician didn’t fire, but shouted in triumph, “We got it! We got it!”

uncle fester

“If you don’t get the Dollar down I am going to be very cross!”

Glenn Stevens addressing the dinner!!

Australand Property Group’s: largest shareholder, Singapore’s CapitaLand, is selling a 20 per cent stake in Australand through investment bank Citi. As foreshadowed by The AFR, Citi was seeking buyers for the Australand shares on Wednesday afternoon.

Good move I suspect from Kathmandu.. partnering with global online retailers Amazon and Next and reviewing online auction sites eBay and Trade Me as part of a plan to rapidly grow its e-commerce business. Kathmandu is selling outdoor clothing and adventure equipment on Amazon’s British site and has started an online sales trial with Next, augmenting sales from Kathmandu’s e-commerce site and bricks-and-mortar stores.

Myuer boss calling for GST on internet purchase again..Think the new Gov has enough on its plate at the moment with our mates Indonesia..what I cant understand is why he is defending somnethiong that happened when Labour was in power..blame them, say sorry, don’t get caught next time, move on..simples!

Under promise over deliver! OzForex: posted a $9.6 million net profit during the six months to October — 7 per cent more than its $9 million forecast outlined in the group’s initial public offering prospectus.

Worley¬Parsons hopes a “rigorous” cost reduction program and job cuts will help restore earnings after having a massive $1.36 billion knocked off its market value on Wednesday following a surprise profit downgrade. Citing contract delays and rising costs in one of its Canadian businesses.Crazy stuff as only four weeks ago the company said they were on track to beat estimates for the year and now a massive downgrade..seems construction issues in oil and gas sector are spreading! Does question how they could be so wrong a month ago…System upgrade anyone..management info seems a little behind the times!

And finally…….thanks Hans

 

The judge says to a double-homicide defendant, “You’re charged  with beating your wife to death with a hammer.”

 

      A voice at the back of the courtroom yells out, “You bastard!”

 

      The judge says, “You’re also charged with beating your mother-in-law to death with a hammer.”

 

     The voice in the back of the courtroom yells out, “You rotten bastard!”

 

     The judge stops and says to Paddy in the back of the courtroom.  “Sir, I can understand your anger and frustration at these crimes, but no more outbursts from you, or I’ll charge you with contempt.  Is that understood?”

 

      Paddy stands up and says, “I’m sorry, Your Honour, but for fifteen years I’ve lived next door to that bugger and every time I asked to borrow a hammer, he said he didn’t have one.”

 

Have a great day

Clarence

XXX

 

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

Clarence

XXX

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