Morning all,

Well, the long awaited semi freddo report from new kid on the block Yellen not screaming was good news indeed for markets. More of the same and she still believes that the labour market is not quite as good as it seems on the official numbers. Anyway onwards and upwards for all concerned, even Gold which I have been loving recently was strong ,banging on the door of $1300.No coincidence that Bitcons has collapsed and the one true disaster hedge is back!!!

Let’s face it what’s not to like in banks…said it before and I will say it again..you buy the banks you die with the banks..never sell…not good for my business but good for your wallet…news this morning that CBA has shot the lights out…$4.27 profit and a increase in dividend to $1.83..I mean really whilst all around are downgrading and getting walloped from time to time these guys just cruise through rain or shine..if you do not own banks you do not like money.. simple!!

Expect another strong day in the sunshine today as the financials rally…again..they are such a large part of our market that where they go we will follow regardless of the disasters out there…Oroton is out today and expect some downside as profits slipped by 20% as they cut retail prices to gain sales…

Aussie dollar at 90.3 today! RBA will not be pleased..

Sorry it’s a bit short today but market is getting busy!!

Idea of the Day

Gotta say you should load up with MQG..yesterday’s fall was a gift…get back in there and buy Mortimer!!The bullish environment is good for investment banks…and good for retail banks..MQG have it covered..Nick Moore (not Less) is being too conservative…under promise over deliver…Buy this one for a move back up to 57 bucks pretty quickly…

Things to make me go mmmmmm!

 

Gold rallied after Yellen’s statement ..now up 7% for the year!! Bitcons on the other hand is more volatile than Torah Bright’s support team!

 

YELLEN SAYS FOMC LIKELY TO CONTINUE QE TAPER IN MEASURED STEPS

YELLEN SAYS RECOVERY IN LABOR MARKET IS `FAR FROM COMPLETE’

YELLEN SAY FED TO `CONTINUE TO MONITOR FOR EMERGING RISKS’

Shaun White lost the title on the half pipe! Shock! Loving the Sochi Games….

Barclays expects to axe up to 12,000 jobs this year to cut costs and counter falling income at its investment bank, where profits slumped last year. And these guys really know how to upset as many people as possible as they also announced it paid 2.4 billion pounds in incentive awards last year after raising bonuses at the investment bank by 13 percent despite a slump in profits from the business. The average bonus across the investment bank’s 26,200 staff was 60,100 pounds.

And while we are talking banks ,sources reckon that NABs UK biz is worth around $2bn!!Wouldn’t that be nice…yet another reason to buy the banks!!!

Forge Group has become the highest-profile victim of the downturn hurting the mining services sector, with the Perth-based group collapsing into administration yesterday.

Room for serious upside to come in market penetration as G8 Education which now owns nearly 300 centres after its recent purchases still has only 4.7% of the market!

How does this work..the Government staff member who ordered the new healthy food web site taken down is married to a food lobbyist..maybe she could be a DJs director too at some stage…

Goodman Fielder has forecast significant earnings improvement in the second half after record milk and rising wheat prices pushed the food group to a $64.8 million loss.

However, the company warned that rising agricultural commodity prices and tough trading conditions remain challenging.

Best Buddies..apparently standing shoulder to shoulder…although Francois needs a box!

And finally……

Having already downed a few power drinks, she turns around, faces him, looks him straight in the eye and says:

“Listen here, good looking. I screw anybody, anytime, anywhere, your place, my place, in the car, front door, back door, on the ground, standing up, sitting down, naked or with clothes on; it doesn’t matter to me. I just love it!”

Eyes now wide with interest, he responds:

“No kidding, I’m in banking too! Which one are you with?”

Have a great day

Clarence

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