Messi night all round…second hat trick in a row for the genius..ok, so there were penalties involved but none the less…anyway a messy night in the markets..Zombieland got smashed as the Crimea situation, impending Russian recession(do the rich care ?)the G8 losing one green bottle, Chinese slowdown and even underwhelming German numbers. Of course the DOW shrugged it off as merely a flesh wound but we know better…Gold got trashed down 2% so expect the worse and the SPI was off around 30 so we will fall…yesterday was a little surprising and felt artificial..there is a lot of weird stuff going on in the second liners at the moment with a lack of fresh good ideas leading to a crowded place as buyers chase the same old same old ever higher..actually its probably the computers just jumping on momentum…but I suggest caution..the world is careering into a Brave New World of higher rates…in years to come we will all point our fingers at NZ and say they started it but Yellen ‘not screamin’ is heading that way too..as is the RBA ..the BOE and others..it is inevitable as sure as night follows day..or eggs are eggs as my mum used to say!
Every year I get all smug with myself at how much of a genius I am as we run into Easter…I have a golden touch..and then wallop as Icarus found out if you fly to close to the sun you get your wings burnt…so it is with my trading…so message to myself “don’t get complacent and ensure that you don’t look like a bunny at Easter!!”
Expect a tough day today especially for the miners ….banks will try but should see us try the 5300 level again…probably bounce off it but we are going sideways as is the US admittedly at a record high kind of level…CAUTION PEEPS!!!
Idea of the Day
Good to see my recommendation of NTC ..remember the internet of things ..hit 58 yesterday…one word SELL…this is a winner as some of you got long at 34…take the money and run..now no doubt this will go higher but it’s a long term story..It will take a while but there seems to be some latecomers joining the party after the roadshow…personally I like to be selling to the latecomers!!!When they drop back buy back in…
I also talked last week about UNS and their amazing run from mid 70s to over a dollar..I also suggested take profits..well last night they crashed back another 6%…hope you followed my advice.
DNA also one that I loved had a great run and as usual the lure of raising more money was overwhelming…I am sure it was lapped up by the punters as the next Crown in Macau..remember they are building a casino in Vietnam…the placement was oversubscribed at 1.33 ..well it would be wouldn’t it and the money looks earmarked for a deal in the region..watch this space but again..too hard and too fast..story of my life!!
Things to make me go mmmmmmm!!!
Aussie dollar at a 2014 high last night at 91.3..deputy gov Phillip Lowe will be speaking this afternoon…so that should be interesting…not!
AGL Energy Is once again going head to head with the competition regulator over a contested acquisition, lodging an appeal against the watchdog’s veto of its $1.5 billion takeover of NSW power producer Macquarie Generation
Data in China continues to come through softly softly…now the market believes that it will stimulate so all will be well…der!
NASDAQ tech stocks and Bio techs got whacked last night… The Biotech index fell 3.2% in overnight trading. Defensive stock Proctor and Gamble rose 2.2%.
More records fall in the US…On March 21, 2014, at 15:45:00, a new record was set for most trades in 1 second in NMS stocks (NYSE, NY-ARCA, NY-MKT and Nasdaq listed stocks and ETFs – approximately 8,000 symbols).
Five former aides to Bernard Madoff who spent decades working for his firm were found guilty of helping run the biggest Ponzi scheme in U.S. history, a $17.5 billion fraud exposed by the 2008 financial crisis. The three men and two women, hired by Madoff with little or no financial experience, were convicted on all counts. Apparently this does not work… “It’s not a defense to say ‘I never worked in the securities industry before. I didn’t know what was going on’” said Marcos Jimenez, a former U.S. attorney in Miami who works on similar cases! Suspect George Pell is trying to use a similar defence!
Madoff top aide that handled the biggest clients.. Annette Bongiorno, worked for Madoff for 40 years as his secretary and at one point had as much as $50m in her accounts. Bongiorno, 65, had multi-million dollar homes in Long Island and Florida and drive a Mercedes worth $100,000.makes the Wolf of Wall Street look like the a sheep in Wolfs clothing!
According to a report in the WSJ…36% of all Web traffic is considered fake, the product of computers hijacked by viruses and programmed to visit sites. This means, simply put, that marketers, who are pouring billions of dollars into online advertising, are confronting an uncomfortable reality: rampant fraud… and the fraud is only going to get worse…
The Russian are going the squeeze as supplies to Europe of gas are down 4% and the price for Russian hot air (Obama has this covered too) has risen close to $500 for 1,000 cubic meters of gas, the standard unit for gas trade in Europe, which is a price about a third higher than what Russia’s gas company, Gazprom, charges clients elsewhere.
Small-cap shares tracked by the Russell 2000 Index have rallied for seven straight quarters, the longest stretch ever, sending valuations 26 percent above levels at the height of the 1990s rally. LogMeIn, which offers remote computer connectivity to mobile professionals, and Athena Health, a Watertown, Massachusetts-based provider of online services to doctors and hospitals, are among nine companies with a P/E ratio above 1,000.
Netflix , the largest online video-subscription service, fell the most since October following a report that Apple Inc. is in talks for a streaming TV partnership with Comcast Corp. Down 6.7%.
Clothing group Premier Investments has lifted its first half profit 12 per cent, thanks to solid sales growth in its retail businesses.Premier Investments made a net profit of $52.1 million for the six months to January 25, up from $46.5 million for the same period last year.
David Brockie, frontman for the satirical extra-terrestrial metal band Gwar, has been found dead at his Virginia home, United States police said. He was 50.
And finally….gotta love a Pirate gag…aaarrrrhh!
A pirate walked into a bar and the bartender said, “Hey, I haven’t seen
you in a while. What happened? You look terrible.”
“What do you mean?” said the pirate, “I feel fine.”
“What about the wooden leg? You didn’t have that before.”
“Well, we were in a battle and I got hit with a cannon ball, but I’m
“Well, OK, but what about that hook? What happened to your hand?”
“We were in another battle. I boarded a ship and got into a sword fight.
My hand was cut off. I got fitted with a hook. I’m fine, really.”
“What about that eye patch?”
“Oh, one day we were at sea, and a flock of birds flew over. I looked up
and one of them shit in my eye.”
“You’re kidding,” said the bartender, “you couldn’t lose an eye just
from bird shit.”
“It was my first day with the hook.”
Have a great Tuesday
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