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Morning all,

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The Storm in the Black Sea cup looks to be all over bar the bail out and markets celebrated! And boy did they celebrate!!All time high again in the Dow…seems that in this day and age a quick Rouble drop and the market hit for six is enough to deter RasPutin! Just a  buying opportunity it seems…anyway as the Crimea falls away in the rear vision mirror. where to from here?…today obviously we are going to join the party but suspect we may be a little muted after all we only fell a little bit on this crisis. The bigger crisis we face is the lack of confidence from business and consumers on the local economy. RBA left rates unchanged yesterday and feel that will be the way of things for some time to come..at least six months…so without monetary policy helping it may just be the Abbott Government and Uncle Joe to pull us out of the current trajectory…trouble is Joe is still in opposition mode and blaming Labour for the mess and offering no real solutions…it will be a tough political budget and the danger is that like the Zombieland muppets ,they cut so deep that it affects confidence even more and really sends us spiralling down..they need to start talking the local economy up not down!!Figures coming out recently suggest Joe is being too downbeat by far…looks like his forecast will be bettered as corporate profits did ok!!NSW Government must be loving the stamp duty that is coming into its coffers..more consultant jobs all round…

 

We will try for 5450 today..fail and settle back down at around 5430 and see what tonight brings..plus it’s the Chinese budget(9 days of it) which is far more important to us than some god forsaken peninsula in the Black Sea full of Russian and Ukrainians standing around smoking and drinking vodka!

 

Gold got hit last night but only 1% so we anticipated that yesterday to some extent..

 

Ex Divs today include …

 

Austock

CSL

Mighty River Power

NRW Holdings

Rio Tinto

Select Harvest

Tox Free Solutions

Twenty-First Century Fox

Village Roadshow

 

 

Idea of the Day

 

Is iSelect the Facebook of the Australian market?

 

That is my question for the day…we are seeing the company tomorrow so will be interesting to see what they have to say…but like faceplant they suffered from a massively overhyped IPO process then fell in a huge hole as they failed to appreciate the difference in being a public company to a nice cosy private one..it happens a lot…the big investment banks pour honey in their ears and consort with them to float their business only to move on to the next one leaving the newly birthed public company at the mercy of the market pirannas…think this one may be in that basket..let’s look at the cash position alone…$83m plus trailing fees on a $250m book…market cap is only $300m…this looks cheap to me given they made forecasts and guidance for the year is Full year FY14 EBITDA expected to exceed FY13 result of $26.5m, excluding CEO exit and replacement costs and any movement in the trail book following its next valuation at 30 June 2014.

 

Put it on your watch list and will discuss more after we see the company tomorrow!

 

 

Things to make me go mmmm!!!

 

GDP numbers today…should be enlightening…Also Chinese PMI …again..they have more PMI ‘s than any other number it seems..

 

Obviously no one from Obama’s office reads stuff from their bosses at Goldman Sucks.. ‘The U.S. economy will grow this year at its fastest pace since 2005, helping reduce the annual average unemployment rate for a fourth straight year even as market borrowing costs rise, the Obama administration predicted.Gross domestic product will expand 3.1 percent in 2014 after rising 1.9 percent last year’ plus he released his $3.9trillion budget too…  with increased spending for employment, education and job-training programs to boost the economy, financed partly by trimming tax breaks for upper-income families and some businesses.

 

You know if things weren’t tense enough over the Crimea, Russia went a fired a ICBM capable of delivering its nuclear payload up to 10,000 km!!!Lest we forget!

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Come on…

A senior aide to British Prime Minister David Cameron has resigned after being arrested on suspicion of child pornography offenses, Downing Street confirmed Monday.Patrick Rock, 62, was arrested by officers from the National Crime Agency last month…this guy was responsible for designing the protocols for internet filters for Child pornography!!!!!.

 

Seems the rally in the US economy is being fuelled by the Student loan biz which is now bigger than credit card debt…and auto loans as the average amount borrowed by car buyers last quarter climbed above $27,000 for the first time ever. So maxed out your credit card? Enrol in a course ,borrow some money and then buy a new car to get there..simple solution…La La land!

 

President Barack Obama proposed raising about $100 billion in revenue over the next decade through new taxes and restrictions on U.S. multinational companies.

 

China’s national health and family planning commission will study the impact of a universal two-child rule, its head of research, Ma Xu, told state news agency Xinhua, adding that there was no specific timetable for the decision. Here’s a really good reason to move quickly before its’ too late…In 2009 there were 167 million over-60s, about an eighth of the population. By 2050 there will be 480 million, while the number of young people will have fallen. “It’s a timebomb.”

 

Telstra: has unveiled new plans to invest “several hundred million dollars” in digital technology over the next three years as it develops online tools to better interact with its customers and improve its sales channels.

 

From the Fin Review today.. WES has enjoyed a significant win after the Federal Court ruled delivery drivers at the retailer’s online business should be employed under its retail agreement rather than the more generous transport award. The decision could have broad-reaching implications for major retailers with online delivery arms and has outraged the Transport Workers Union, which has already signalled plans to appeal.

 

Watched Oscar winner Gravity last night…was a bit underwhelmed …but maybe as usual the hype was so much…love to see how they filmed it though…Earth should have got the Best Supporting actor role!!!

 

 

And finally……seems RasPutin has taken this advice…

 

” It’s only when you see a mosquito landing on your testicles that you realise that there is always a way to solve problems without using violence. ”

 

 

Back on Sky Biz at lunchtime today so ring up with any questions or comments…

 

Have a great day 

 

Clarence

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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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