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Morning sports fans,



Last night it was off again to the races so my caution seems a little premature…despite missing a few estimates it seems that the US is growing nicely, Japan needs more stimulus,China needs more stimulus, Zombieland needs more stimulus and will forever.So full speed ahead and damn the torpedoes….more records falling than an East German Athletic team…



Today marks the fifth time in the past month the S&P 500 climbed above 1,880. The gauge was unable to maintain that level by the end of the session in the prior four times. The index reached its previous closing high of 1,878.04 on March 7.


RBA holds rates again..seven months in a row…Iron ore up another 0.7% (is China already pumping liquidity into the system..sure looks like it)


Sorry about my call yesterday I was exhibiting a little irrational exuberance…looked horrible until the Chinese PMI number and the RBA saved the day…in the end it wasn’t too bad but way off where I thought..maybe today I will get it right…give enough monkeys typewriters and they will type Hamlet…”To be of not to be that is the Gergleplasts..”



Idea of the Day


Iron Ore has rallied pretty hard off the $100 mark and with news that BHP is thinking about chopping out some  of its non-core business this should put the focus on them and ensure they continue to rally…would not be surprised to see a 39.00 share price in the next week or so…Maybe worth a  look at AGO as the tiddler to play…they haven’t really recovered very well from the big sell off..


Good to see MCS starting to move a little higher and UNS got creamed again last night in the US..they hate Biotechs at the moment..timeto buy back in methinks..


Things to make me go mmmmmm!!!


And with the harsh budget coming it’s good to know that the Government is doing its bit… The federal Education Department has paid consultants more than $5500-a-day for advice on managing its image. It cost the taxpayer $95,000 for just over three weeks’ work.



Seems that US author Michael Lewis (Liars Poker) has stirred things up in the US with his new book and lots of interviews on High Frequency trading..its the talk of the town..now I for one believe   that it is basically front running and we see it every day in Australia…it is supposed to be illegal but only if you have clients..of course these HFT’s don’t have clients so they get away with it..the exchange doesn’t care as it gets the revenue but trust is lost and investors lose out..it should be stopped…if you are interested in seeing what Michael Lewis had to say this is worth 10 minutes of your time! 60 Minutes interview with Michael Lewis



Investors have welcomed news BHP Billiton is considering spinning off many of its non-core assets including aluminium, nickel and bauxite in a transaction that could create a new $20 billion resources company that would be handed back to shareholders.


From the Fin Review this morning… investors are struggling with Woodside to keep up with the twists in the company’s targeted $US2.5 billion ($2.7 billion) investment in the huge Leviathan gas field in Israel, its prospective partners in Israel are also at a loss. Senior representatives of existing Leviathan partner Delek Group are said to have been among those that reportedly waited in vain for Woodside executives to turn up to the gas deal signing ceremony last Thursday in the landmark King David Hotel in the heart of Jerusalem.


Deteriorating trading conditions have forced Goodman Fielder to issue a profit downgrade and warn that the company is expecting write-downs in the second half.


May not be al over in Graincorp either as Archer Daniels is moving to increase its stake..they currently have 20 % and would like to take it to 25%.


The US fear index or the VIX.. retreated 5.6 percent to 13.10. The index has fallen four straight days and closed at the lowest level since January.


Zombieland unemployment still at 12% but in the young peoples world its pretty dire..No wonder Facebook and Xbox are so popular..nothing else to do..Whitney Houston is well and truly dead..No belief in children are our future!!







China’s official manufacturing PMI rebounded  to 50.3% in March after falling for the past  three months.


Australian House price data. RPData-Rismark March House Price Index rose 2.3% in March after being flat in Feb. This was the biggest gain on record since index began in 1996. New figures show Sydney’s median dwelling price surge by almost $100,000 over the past year. Good for the wealth effect..back to the old ATM mortage facility…and with the Aussie dollar now on the way back up..book that overseas holiday courtesy of the property market!


I did think this was an April FooIs’ joke when I read it this..In the smog-ridden city of Zhengzhou, a Henan-based travel company shipped 20 bright blue bags of fresh mountain air to show oxygen-deprived city residents what they’re missing.


And finally…


Conversation overheard on the VHF Guard (emergency) frequency 121.5 MHz while flying from Europe to Dubai .

Iranian Air Defence Site: ‘Unknown aircraft, you are in Iranian airspace. Identify yourself.’

Aircraft: ‘This is a United States aircraft. I am in Iraqi airspace.’

Air Defence Site: ‘You are in Iranian airspace. If you do not depart our airspace, we will launch interceptor aircraft!’

Aircraft: ‘This is a United States Marine Corps FA-18 Fighter. Send ’em up, I’ll wait!’

Air Defence Site: (… Total silence)


Back on Sky Biz at 12.00 today so ring in and say G’day!!


Have a great day




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