Morning sports fans,

 

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Another volatile night in the US as the glamour stocks fell first then rallied into the close up 87 …Zombies better too..it does seem the computers are running the asylum….for example Pandora is a great example of the chaos (today’s swings down 2%, up 4%, down 11%, then up 6%) .That cannot be human surely…anyway a good performance yesterday to give us 7 in a row of up days…the only fly in the ointment seems to be the Iron Ore price which is struggling at the moment..news from China that they don’t see a huge need to stimulate is hurting sentiment there…expect the miners to slip a bit and the golds to suffer as well as Ukraine didn’t explode overnight…suspect it will though…

Good to hear our glorious leader last night talk about tax cuts…is he for real? These guys have been running around like Chicken Little telling everyone that the sky is falling that we have to end the age of entitlement (unless you are a Pollie) and start to address the looming crisis that are building in our system…rapidly ageing population and rapidly escalating health care costs…and what does Tone suggest…tax cuts..brilliant…Joking Joe must have choked on his cornflakes this morning except that he cant eat cornflakes anymore as its not on his diet!!

The big focus on our market in the next week or so will be bank results…they are 30% of the market and have been the darlings..any disappointment will be a reason to sell…so here’s a quick look at them..still like the sell calls routine but falling on deaf ears at the moment…

ANZ 1H14 (Thurs 1 May):

Cash NPAT consensus $3.44bn

Dividend consensus 80cps

MQG 2014 (Fri 2 May):

Reported NPAT consensus $1.19bn

Dividend consensus 283cps, final 183cps

WBC 1H14 (Mon 5 May):

Cash NPAT consensus $3.64bn

Dividend consensus 96cps – note consensus includes special

NAB 1H14 (Thurs 8 May):

Cash consensus $3.16bn

Dividend consensus 99cps

Idea of the Day

Another Aussie biotech bit the dust yesterday…ACR…hit by a slide in sales…apparently testosterone replacement has been linked to heart failure…must be all that chest thumping..anyway this comes on the heels of the Pfizer bid for Astra Zeneca for …wait for the Dr Evil moment…$100 billion dollars….

There is M&A fever in this sector at the moment as patents run out and competition increases and its such a lucrative business after all…More drug activity than the Ivy.. Forest Labs agreed to buy Furlex for $1.46 billion in a cash and rights deal…..Not sure if there are going to be any Aussie companies left, the way its going…one of my faves UNS has been hit with more rumours and innuendo than the Tour de France but I still feel positive about it…one of the ways the big pharmas can compete is in the delivery systems and these guys have got that sussed…the way its looking ,someone out there is going to bag itself a bargain shortly! I first recommended them at 73 and suggested that people take profits at 1.00 when they got there(and they did!!!)…now they are back to 57 and I have my buy order in at 57 for a small amount…we shall see. Fingers crossed…

 

 

 

Things to make me go mmmmm!!!

 

Breaking news…Coles’ supermarkets and liquor stores sold $6.73 million worth of goods during the March quarter, an increase of 3.9 per cent compared to a year earlier.

Is it just me or does it seem that the whole political cadre is just on the take in one way or another.We knew that Labour and Obeid was dodgy but not the Liberal party surely..say it ain’t so…looks like more juicy revelations to come and Tone must be bricking it at the moment …at some stage this NSW corruption is going to work its way up the food chain!!!

It was revealed today that the “Big Bogan” didn’t know what ICAC was!!!! Feel sure that is temporary.

 

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In 2003, it was estimated by the UN that Japan would need 17 million new immigrants by 2050 to avert a collapse of the pension system . Those immigrants would amount to 18% of the population in a country where immigrants currently amount to…wait for it… 1%.

Good to see the French doing what they do best…Hollande has said that he is not opposed to the bid from GE for Alstom…just a small takeover at $11.5bn…meanwhile Ze Germans want Siemens to take them over..of course they do..

Fresh from striking a $7.06 billion deal last week to buy Queensland Motorways, Transurban has announced it has agreed with the Victorian government to embark on $850 million worth of upgrades to Melbourne’s road network over two years.

The Goodman fielder takeover has a long way to run and would expect the 65 cents slapped on the table to be an opening salvo to work out the strength of community and therefore government objections..in the end they will have to pay closer to 80 censt I suspect but after the Graincorp bid got knocked back the ball is in Jokin Joe’s court at the moment..although if we are truly open for business he cant say no…we shall see..may even get another bidder entering the fray..look what happened to the blessed Cheese makers!!!

Lots of numbers coming out from the US tonight so expect more volatility….the computers will be 101010101010…1111….more volatility to come..

Bell Financial Group’s online broking arm, Bell Direct, will double in size after the company entered an agreement with Macquarie Group to provide a back-end trading platform for its banking and financial services group.

And finally…I am away from the office today having a few medical checks. It’s been two years since my doctor and I were intimate but the time has come again…so this is what you have read this far for I know….

Ellen and her husband Bob went for counselling after 25 years of marriage. 



When asked what the problem was, Ellen went into a passionate, painful tirade listing every problem they had ever had in the 25 years they had been married. 

 She went on and on and on: neglect, lack of intimacy, emptiness, loneliness, feeling unloved and unlovable, an entire laundry list of unmet needs she had endured over the course of their marriage.

Finally, after allowing this to go on for a sufficient length of time, the therapist got up, walked around the desk and after asking Ellen to stand, embraced her, unbuttoned her blouse and bra, put his hands on her breasts and massaged them thoroughly, while kissing her passionately as her husband Bob watched with a raised eyebrow!

Ellen shut up, buttoned up her blouse, and quietly sat down while basking in the glow of being highly aroused.

The therapist turned to Bob and said, ‘This is what your wife needs at least three times a week can you do this?’

Bob thought for a moment and replied, ‘Well, I can drop her off here on Mondays and Wednesdays, but I play golf on Friday mornings.

Enjoy your Tuesday (probably more than me) and I am on my mobile

Clarence

XXX

Follow me on twitter @henryj007 or my blog at http://www.thebeeksreport.com

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.

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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