Morning sports fans,
More faffing around last night as tech stocks feel the wrath…I mean come on its different this time right? Biotechs also got walloped too…Plus the US banks are in trouble as usual..big fines and Citi failing the test…Tapering continuing and the US economy growing at 2.6% GDP….I really see no reason to be too long at the moment.
Gold took another head shot last night $1291….ouch!And that’s with all the issues with Russia…amazing that at $1360 everyone was so bullish in the media…usually they are trying to get us muppets to take them out so they have to be bullish..time to buy is when all the talking heads are bearish again!!Iron ore up a bit though..
So here we are at 5350 last night..probably a slight fall today but I cannot really see too many reasons to like this market at the moment…everyman and hid doggie are out there at the moment trying to replenish their coffers as investors get their dividend cheques and don’t know what to do with the….and its not just here..in the Us and the Uk we are seeing a rush to raise…what do they know that we don’t!!!
Anyway I remain cautious…not massively bearish but good time to ease out on the good days…the one thing that is going up is the Aussie Dollar…strange really given that China looks to be slowing and our economy is hardly flying along..must be a few shorts out there being squeezed…I am no currency trader but I reckon anywhere close to 94 should do it..book the holiday..get on the net.. buy your US stuff…lock it in Eddie!
Idea of the Day
It’s Friday….UNS got whacked last night and pretty soon they will be back in buy territory…around 75-78 I reckon…all the biotechs in the US have been whacked..for a quick refresher UNS are involved in drug delivery systems with retractable syringes and other devices…cool stuff that is being used now by the big pharmas..these things do take time though..
Still think it’s right to take profits in GEM at $5.00…great biz but they are running really fast and they may need to catch their breath!!
Things to make me go mmmmmm!!!
Facebook has slipped 11 percent in March, while Yelp Inc. decreased 17 percent, Twitter Inc. declined 16 percent and Pandora Inc. dropped 20 percent. The Dow Jones Internet Composite Index of 40 companies has lost 8.5 percent this month.
Will we ever know what really happened to the new era ‘Flying Dutchman’ airline MH370?
Good to know that Pole Dancing is a legitimate expense or at least it is at AWH the company that the Artful Dodger presided over! According to Michael Costa, “I couldn’t believe the salaries, and I measured it against the managing director of Sydney Water’s salary who was on $650,000 to $700,000 and we had three executives who were on that or higher in a company with limited resources,” he said.
I miss Kristina Keneally..someone should make a TV show out of the ICAC revelations…wait a minute they did…Underbelly!!!
Good to see the BOF(Barry O Farrell) is now joining the competition to see who can sack the most public servants…trouble is usually they end up as consultants on twice the money or they can become media advisers to the PM ‘s Office!
Seems that the IMF is moving quickly to bail out the Ukraine.Of course most of the money is owed to Russia so where will it go? Yup, you guessed it!!!
Looks like the only reason that anyone flew with QAN, their Frequent flyer points are being attacked now! Qantas has overhauled its Frequent Flyer program so that members now receive fewer points for spending less on some flights.
US Consumer sentiment declined to a 7 week low and existing home sales fell 0.8% in February.
Chinese industrial profit growth was 9.4% YoY in January/ February and down from the 12.2% growth for all of 2013.
From my mates at Bloomberg… “The collapse of a Chinese developer in a city south of Shanghai foreshadows a shakeout among the nation’s almost 90,000 real estate companies as the government reins in credit and the housing market slows.Zhejiang Xingrun Real Estate Co., a closely held developer based in Fenghua, is insolvent, with 3.5 billion yuan ($562 million) of debt. Its residential projects have been halted and authorities have detained its largest shareholder and his son, according to the city’s government.”
The Nasdaq Biotechnology Index, up 304 percent in the last five years, has fallen 11 percent since the end of February, while the Russell 2000 gauge of smaller companies has slipped 2.7 percent after rallying more than 230 percent.
Qube Shrs halted, seeking to raise A$200m in share placement at floor price of A$2.12 apiece, a 4.9% discount to last close
The sign says:
‘SEX FROGS’ Only $20each! Comes with ‘complete’ instructions.
The girl excitedly looks around to see if anybody’s watching her.
She whispers softly to the man behind the counter,
‘I’ll TAKE one!’
As the man packages the frog, he quietly says to her,
‘Just follow the instructions!’
The blonde nods, grabs the box, and is quickly on her way home.
As soon as she closes the door to her apartment, she opens the
instructions and reads them very carefully.
She does EXACTLY what is specified:
1. Take a shower.
2. Splash on some nice perfume.
3. Slip into a very sexy nightie.
4. Crawl into bed and place the frog down beside you,
and allow the frog to do what he has been trained to do.
She then quickly gets into bed with the frog and to her surprise . .
The blonde is very disappointed and quite upset at this point.
She re-reads the instructions and notices at the bottom of the paper it says,
‘If you have any problems or questions … please call the pet store.’
So, she calls the pet store. The man says, ‘I’ll be right over.’
Within minutes, the man is ringing her doorbell.
The blonde welcomes him in and says,
‘See, I’ve done everything according to the instructions.
The damn frog just SITS there!’
The man . . . looking very concerned, picks up the frog, stares
‘directly into its eyes’ and STERNLY says:
‘Listen To Me ! I’m only going to show you how to do this
One More Time.
On Sky Biz this afternoon…see you there!
Have a great weekend
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.