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Morning all,

US was closed last night so no action there. Zombieland was quiet too in its absence with mixed results across the board. Yesterday our market slumped as the rotation from the banks to the resources gathered pace only to be halted a little when the Chinese GDP numbers hit the market. At our worse we were down 45 and rallied to close down only a smidge. Lack of buyers and one broker announcing that the banks were overvalued helped push them down.

Expect a quiet day today with no US leads but the trend away from the high yielding low risk banking sector to the massively oversold Resource sector will continue..at least the resource stocks will out perform ..not to say that they will not go down but not as much..the tide has turned …PDN announcement yesterday was another bullish signal with the Chinese taking a 25% stake in their Namibian operation. This is going to be the year of the Deal for miners as they consolidate and like all good Darwinians ,Only the strong will survive!

Yesterday an industry legend retired. Richard Coppleson’s afternoon report was the stuff of genius and we will all miss it immensely .Those that were supposed to get it and those that weren’t! In honour of Coppo I am putting in the obligatory Shark picture that he was so fond of. Enjoy your retirement.

shark 1 sark2

Idea of the Day

Things are gradually returning to normal service….banks will continue to feel the pressure but the whole market will be cautious ahead of reporting season…for those with a long term bullish view of the economy and banks in particular back foot buying may be the order of the day…but do NOT expect the stellar returns of 2013…its going to be a much messier year and the headline index number will reflect this…

Things to make me go mmmmm!

Iron Ore down to $124.80 a tonne as Chinese New Year looms…should take some of the sparkle out of the BHP,RIO,FMG,AGO and ARI Etc!It has now fallen from 137 to 125 in the last month or so..

China’s working-age population, or people age 16 to 59, fell by 2.44 million in 2013, the National Bureau of Statistics said yesterday.Why is this important I hear you ask…well as the population of China ages it is going to cause a huge issue for the authorities..no more cheap labour coming from Rural areas and increasing costs to keep the aged fit and healthy..this is going to be a massive story ..thats why they have relaxed the one child policy..anyway this will be played out in the years to come but it is a BIG issue!

Telstra: has bolstered its growing cloud computing business with the $60 million acquisition of Melbourne-based network integrator and advisory firm O2 Networks. O2 Networks designs and builds networks for financial institutions and government agencies, including Australia Post, Macquarie Group and Tabcorp.

The Bundesbank plans to repatriate 30 to 50 metric tons of gold stored in New York this year under a plan to ship home half of its bullion reserves held abroad.The central bank will bring home all 374 tons of its gold held at the Banque de France and a further 300 tons from the New York Federal Reserve, with holdings at the Bank of England unchanged, it said last year.

Looks like the new broom at Royal Dutch Shell has some different ideas about the gas business in Australia. Job cuts and retreat seem to be the order of the day with the massive increase in costs of not only sourcing gas but in building the plant for an even more competitive market. This one is going to test the Government which is hoping for an explosion in this industry to fill the void from other mining investment..good luck!

The Shanghai Comp dipped below 2000 and closed down 13 points to 1991. The Shenzhen Comp lost 9 points to close at 1026.

Imagine…..

85 richest 3.5 billion_0

Its easy if you try…

Greek Unpaid Electricity Bills Grow By €4 Million Per Day: Over 700,000 Pay In Installments.

This is helping the Gold price stay stable above 1250…The world’s largest platinum miners are bracing for the most severe labor turmoil since 44 people died during a strike at Lonmin in August 2012.

At least 70,000 members of the Association of Mineworkers and Construction Union plan to walk out over pay on Jan. 23 at mines in South Africa’s platinum belt run by Anglo American Impala Platinum Ltd. and Lonmin

And finally….

A young Ventriloquist is touring Queensland and one night he’s booked to do a show in

an RSL club.  With his dummy on his knee he starts going through his repertoire

of dumb blonde jokes.

Suddenly, a blonde woman in the fourth row stands on her chair and starts

shouting:

“I’ve heard enough of your stupid dumb blonde jokes. What makes you think you can 

stereotype blonde women this way, especially us Gold Coast blondes?

What does the colour of a woman’s hair have to do with her worth as a human being? 

It’s men like you who keep women like me from being respected at work and in the

wider community and from reaching our full potential as people. It’s people like

you who make others think that all blondes are dumb, whether they’re from Queensland

or not. You and your kind continue to perpetuate discrimination not only against 

blondes but women in general and patheticall, all in the name of humour.”

The embarrassed Ventriloquist begins to apologize and the blonde yells:

“You stay out of this big boy I’m talking to that little bugger on your lap.”

 

Have a great Tuesday

 

Clarence

XXXX

 

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

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