Well one of the Axis of Evil is now out of the game it appears. That must be good news surely.Of course Obama now has to get it through the Senate which may be easier said than done..hope he has much success than his flagship policy of Obamacare!… The price of oil has been sliding on the increased production potential of the Iranian and this will be a welcome fillip for the average energy consumer and motorist.
Wall Street fiddled around and couldn’t really make up its mind about weaker than expected housing data and the shortened trading week due to Thanksgiving.
Plenty of AGM s today with three big ones WOW,HVN and the big firefight at BKW..should be a fun day as WOW try to explain how they sold Dick Smith for $20m and now its worth $500m and how they still believe their Masters Home depots are ever going to make money..stick to food and booze and pokies guys…talking of pokies I was amazed to read that 50% of facebook users are using social media gaming website too…should help ALL and AGI..pretty easy I would imagine to roll out the software online and do away with all those pesky venues and costly licences!
Expect a muted day today as the AGM season finishes off…so many in the next few days, mostly in Perth..lots of IPOs and US holiday will curtail volumes and interest.
Gonna be a slow day ..slower than a wet weekend in Canberra
Idea of the Day
Just before Xmas there is going to be an avalanche of bank dividend cheques falling on investors doorsteps..the question is what are they go to do with all that pretty money..invest in the marlet..spend it at DJs or Hardly Normal or Dick Smith perhaps…we shall see ..but it does seem that the world is long equities..there is still plenty of cash around and everyone is waiting for a pullback to buy the market..talk to a couple of US traders this morning on Sky and they couldn’t see any real reason why the marlet would fall…only blot on the horizon was the US Debt negotiation again at the start of the new year…apart from that its onwards and upwards forever!!!Apparently…..
Maybe time to buy some QAN perhaps as US airlines are at big time highs and oil prices look to be under pressure..should help the Flying Kangaroo…buy below 120 for a move back up to the mid 130’s…
Things to make me go mmmmm!
Looks like RIO is about to pull the pin on its expensive Aluminimum refinery in Gove with a loss of 1500 jobs. It’s just too expensive here..
Was asked if it was time to look at Mining services on telly this morning..my answer was no…Ausenco about to deliver some bad news too..nowhere to hide in this sector..
RBA gets another chance to jawbone the dollar down today as the Deputy Gov speaks.
Here’s something that bothers me…The new Government is not a supporter of the local car industry…they think it should stand and fall on its own merits..but they are supporters of the car leasing business that uses tax breaks to make it easier to lease that new BMW…is that logical…..beats me…
A total of 1.12 million took the National Public Servant Exam in China, according to figures from the State Administration of Civil Service figures. How many total job openings were there? A tiny 19,000 according to China’s Global Times, meaning less than 1 on 50 would be successful.
BHP Billiton is a step closer to its long term goal in the Pilbara, after announcing $US301 million worth of new spending today.The global miner will spend the money on two new ship-loaders at Port Hedland, which will help increase the export capacity of its iron ore division.Ship-loaders are effectively large spouts that pour iron ore directly into the hull of giant ships, and the two new ones will replace a couple of 40 year old ship-loaders.
Falling thermal coal prices and doubts about the viability of new coal mines have forced Aurizon to develop a new plan in a bid to wipe $1 billion from a $6 billion rail and port development in Queensland’s Galilee Basin with India’s GVK Hancock. Aurizon is planning to build only 300 kilometres of new narrow gauge track and connect with its existing rail networks instead of the 500 kilometres of standard gauge track initially
Pressure on Gerry Harvey to pay out some of the $650m in franking credits they have on their balance sheet..more about that today perhaps..
Beach Petroleum Investor day…if I was in the LNG business I would be seriously worried about the US shale industry and its ability to start exporting its gas to Asia…the LNG guys here have spent a small fortune, actually more like a large one,on getting their projects online in the next couple of years..could be interesting to say the least.
Our recent IPO ,RGS, has been stellar performer since its debut on the boards and looks set to continue its run as the Japanese Government has announced significant changes to fast tracking Stem cell therapies..
Seems the Ukrainian leader is copping a bit of flak for putting talks to join the EU on hold…cosying up to Russia apparently or maybe just don’t want to join such a dysfunctional club!
It seems that 70% of home sales in Brooklyn are to hedge funds and investors..amongst them an Aussie Alan Dixon from Dixon Advisory which has bought more than 538 homes, townhouses and brownstones from Jersey City to Queens and Brooklyn…these are not buy and flip investment but investors looking for good sustainable yield.
Good to see Gold and silver rebound last night after some heavy falls…temporary respite I suspect as the price continues to trundle downwards..
And finally…..Thanks again Hans,
A Mafia Boss finds out that his bookkeeper, Guido, has cheated him out of $10,000,000. His bookkeeper is deaf. (That was the reason he got the job in the first place. It was assumed that Guido would hear nothing and would therefore never have to testify in court).
When the Godfather goes to confront Guido about the missing $10 million, he takes along his lawyer, who knows sign language.
The Godfather tells the lawyer, “Ask him where the money is.”
The lawyer, using sign language, asks Guido, “Where’s the money?”
Guido signs back, “I don’t know what you are talking about.”
The lawyer tells the Godfather, “He says he doesn’t know what you are talking about.”
The Godfather pulls out a pistol, puts it to Guido’s head and says, “Ask him again or I’ll kill him!”
The lawyer signs to Guido, “He’ll kill you if you don’t tell him where the money is.”
Guido trembles and signs back, “OK, ok! You win! The money is in a brown briefcase, buried behind the shed at my cousin Bruno’s house.”
The Godfather asks the lawyer, “What did he say?”
The lawyer replies, “He says you don’t have the balls to pull the trigger.”
Have a great day
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