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Morning all,

long days journey into nuight

Could be a long day today after a lacklustre showing form international markets. Bit up and a bit down..Zombieland continues to push ahead though as does the Dow but not the S&P…latest results are hardly the stuff of dreams ..unless you are a bank! Commodities are in the spotlight and I spoke last week about the barking dogs…long overlooked by the market and sold down aggressively last year they are barking…OZL,PDN,NCM,BHP,ILU and other others…this will be a continuing theme for the next little while..last week the index went absolutely no where….but like the duck paddling away furiously there is a lot going on underneath…the perennial argument of Resources V Banks is the big 2014 question…I wrote last year that for our market to really fire we need to see a coordinated effort from these two big blobs…and we didn’t…now we are seeing investors looking more intently at the bombed out resource sector and selling the banks to pay for them….this will continue..now I still believe that you buy the banks and die with the banks…nothing has changed but traders should be nimble whilst long term investors can just hold forever…maybe selling some calls against the core banking holdings in your portfolio would be a great idea and its easy to set up…extra income every month..plenty of dodgy ‘free’ seminars to teach you how to build that monthly income …I can advise you without any hard sell…

Stop Press …PDN has just announced it has sold a interest in its Langer Heinrich project in Namibia…25% for close to 200m to the Chinese-BUY this one…going back to 75 cents

Anyway the market will continue this Titan like struggle between banks and Resources and flow from one to the other…Chinese New Year and a slowdown in China is taking the heat out of Iron Ore whilst other commodities are doing better especially Nickel..Aussie dollar falling helps but not enough…

Idea of the Day

Talked last week about a small stock called DNA..they are building a casino in Vietnam…like this one…news out that there has been a bureaucratic delay from a soft March opening to May will probably see a little selling..we may see them fall back below 90 in which case they are worth a  long hard look…the delay will not affect the operation as it due to forms not construction and so when it opens in July with 428 beds it will be all systems go…good growth to come in the coming years in this one… IT IS SPECULATIVE but hey so are the blue chips these days!!!

Things to make me go mmmmmmm!!!


Chelsea 3 Man U 1…yeah…


BHP Billiton: appears set to close its smallest aluminium smelter — Bayside in South Africa — as new division boss Daniel Malchuk takes long-awaited action to shut down unprofitable assets.

Blessed are the Cheese makers…Saputo: is inching towards control of Warrnambool Cheese & Butter Company with another 0.5 per cent of acceptances on Friday bringing its stake to 46.78 per cent. The offer closes on Wednesday night and if it can get more than 50 per cent by then, the $500 million-plus offer will automatically be extended by two weeks.


Gotta love conspiracy stories…..remember when Germany asked the US for its Gold back and they were told it was going to take 7 years to ship it(find it!).Well at least they have started..in an update last week, the Germans have announced they have received 37 tons so far…they are after 674 tons!!!so a little bit behind on their yearly quota of 85 tons, to say the least and what is worse it transpires that only 5 tons came from NY the rest came from Paris!!!!!! No wonder Bitcons are all the rage!!!


Looking forward to the Winter Olympics starting on 7th February..so are the 40,000 Russian security officers who are tasked by Putin to make these the safest games ever!!!!Lots of overtime there in the Worlds’ most expensive event ever!!!At least I won’t have to watch the cricket!!!!Alastair Cook is thinking about his future…you think!!!I think he should defect ,he sure can’t return to England!

Deutsche Bank AG (DBK), Europe’s biggest investment bank by revenue, said it recorded a loss before tax of 1.2 billion euros ($1.63 billion) for the fourth quarter of 2013.

chris christie

The man who would be king…or at least the Republican contender for the Presidents job .If it wasn’t for that Pesky Bridge and the funding scandal that is..he heads to Florida to talk to his supports..he is the Governor of NY…what’s in Florida? All the old New Yorkers it seems…and their own scandal ridden Governor!!

This chart, courtesy of DoubleLine Capital, shows how the “stock market” has moved during this period. Who said that Free money doesn’t distort the markets?

 central planning

Thailand is getting worse as the money is now leaving the country and Credit-default swaps insuring Thai debt against non-payment for five years rose to 153 on Jan. 14 in New York, the highest level since Aug. 28, according to CMA prices.

Still in the US… Manufacturing production rose a stronger-than-expected 0.4 percent in December after an out-sized 1.0 per cent increase the prior month, a Federal Reserve report on Friday showed.

Europe’s biggest oil company Shell, in its first profit warning since 2004, said adjusted earnings excluding one-time items and inventory changes were about $2.9 billion in the fourth quarter. That compares with $4.5 billion in the previous three months and an average fourth-quarter analyst estimate of $4.9 billion.

Sotheby’s said it sold a bottle of Macallan for HK$4.9 million ($631,850) in Hong Kong, setting a record for the most expensive bottle of single malt whisky sold at auction.

And finally…thanks Hans …pure Gold from you over the weekend.

A husband and wife were having dinner at a very fine restaurant when this absolutely stunning young woman comes over to their table, gives the husband a big open-mouthed kiss, then says she’ll see him later and walks away.

The wife glares at her husband and says, “Who was that?”

“Oh,” replies the husband, “she’s my mistress.”

“Well, that’s the last straw,” says the wife. “I’ve had enough, I want a divorce!”

“I can understand that, “replies her husband, “but remember, if we get a divorce, it will mean no more shopping trips to Paris, no more wintering in Barbados, no more summers in Tuscany, no more Jaguar in the garage and no more yacht club. But the decision is yours.”

Just then, a mutual friend enters the restaurant with a gorgeous babe on his arm.

“Who’s that woman with Ralph?” asks the wife.

“That’s his mistress,” says her husband.

“Ours is prettier,” she replies.

Have a great start to the week…




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Get a Global take on things at http://www.ntmarkets.com