Morning all,




Happy birthday to US bull market!!




Another record high on the Dow as jobs numbers come in better than expected…NFP tonight though…more drama to come in the Ukraine I suspect but the west’s response has been woefully underwhelming..except of course the US which has decided to print another $1bn in used Benjamins and give it to the Ukraine. Sorted! Now if they could just get some from the EU all would be right in the World.


So here we are knocking on heaven’s door, even Gold rallied last night again..Dollar rallied too on the recent economic numbers…we all know the next interest rate move will be up but not for a long time…unemployment creeping up is the goal of the government to scare us and remind us of our mortality. So that will not be enough for the RBA to do anything drastic…feel that we still need to do some crab like movement for a while as we digest the recent reporting season but we can follow my leader as good as anyone…


Expect a modest rally today to take us into uncharted territory ,well at least for five years. Banks will perform and we may get some resource kick in too…bit of index rebalancing too in the coming weeks as some leave the indexes and some join..QAN out of ASX50..VAH out of ASX 200 on March 21st.


Few Chinese numbers out today…CPI,PPI ,Dog Regos, Fishing licences and others.


Ex-dividend today: Air New Zealand, Arrium, Brambles, Perpetual, Sedgman, Seven West Media, Slater & Gordon, Tassal Group, Trade Me, UXC, iiNet.


Idea of the day

It’s Friday and new ideas are hard to find…old ideas are going well..stick with them..DNA going really well as are YOW and GEM and MOC..still like the look of ISU but meeting with management didn’t happen last night..hoping for conference call instead..my fault not theirs!!

Maybe a thought for the day from Bloomberg…Liquefied natural gas will overtake coal as Australia’s second-biggest export earner by 2017, according to UBS AG, as China steps up purchases of cleaner energy to fuel its economic growth. The value of Australia’s LNG exports will triple to A$60 billion ($54 billion) by 2017, surpassing an estimated A$46 billion in coal receipts, according to UBS. Iron Ore will be $92bn…big jump in LNG will really help our balance of trade numbers too..help our dollar and help GDP growth!

Don’t forget to dust off some of those resource stocks ..they may come back one day!!

Things to make me go mmmmm!!!

Bill Shorten’s best insult is a “cheese eating surrender monkey!!!”God I miss Keating!! Had to google it..used in a Simpsons episode to describe the French…makes more sense now!!But Bill get some better insults..can’t quote the Simpsons!

ANZ will appeal the Federal Court’s controversial ruling last month that it charged “extravagant, exorbitant and unconscionable” late-payment fees on credit cards, challenging a decision that threatens to cost banks tens of millions of dollars.

Billabong International says it will “vigorously defend” claims it deceived shareholders and breached disclosure laws by issuing misleading profit guidance more than two years ago.

SEEK CEO Andrew Bassat has challenged more Australian companies to embrace the risk of expanding into Asia, after Carsales.com sealed a $126 million foray into the South Korean car classified market.

Both the BoE and the ECB left key interest rates unchanged at their meetings held last night as deflation fears eased. The ECB raised its growth forecast for 2014 to 1.2% from 1.1%.

Crimea has announced a referendum on joining Russia..should be a breeze…

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Vladimir Putin Nominated For Nobel Peace Prize! Really? Concerns around the rest of Europe now that Russia is on the march!! “The Crimea scenario resembles the occupation of the Baltic states by the USSR in 1940,” Latvian Foreign Minister Edgards Rinkevics said on his Twitter account. “History repeats itself, first as tragedy, second as farce.”

Employment numbers from the US last night… Initial claims for state unemployment benefits tumbled 26,000 to a seasonally adjusted 323,000, their lowest level since the end of November, the Labor Department said. Big number tonight with Non Farm payrolls.. forecast to have increased by 150,000 jobs in February, according to a Reuters survey of economists, up from gains of 113,000 in January and 75,000 in December.Course if it misses it will be the weather..der!

Net worth for US households and non-profit groups rose by $2.95 trillion in the fourth quarter, or 3.8 percent from the previous three months, to a record $80.7 trillion, the Federal Reserve said today.

US office supplier Staples said it will close 225 stores in North America, more than 10% of its presence, as shoppers move online and its sales slump.Sales in the final three months of the financial year fell 10.6% to $5.87bn (£3.5bn), the retailer said in a statement.

And finally…..Irish Logic…thanks to Hans,Barry,Marilyn and others for the endless stream of quality jokes..I am indebted forever, much like the G7!

Two  Irishmen were sitting in a pub watching the Tour de France on  TV.

Seamus shook his head and asked, “Whoi t’e hell do they do  that?”

“Do what?” asked Mick.

“Go on them boikes for moiles  and moiles, up and down t’e hills, round t’e bends. Day after day, week  after week. No matter if it’s oicy, rainin’, snowin’, hailin’ . .. . why  would they torture themselves like that?”

“Tis all for the prestige  and the money,” replied Mick, “You know the winner gets about a half a  million Euros”.

“Yeah, I understand that.” said Seamus, “But why do  all the others do  it?”

Have a great weekend





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