Morning all,

I will make this short and sweet as I unfortunately have a funeral today but overnight we saw normal service resumed so expect some buying early again but jitters about the razor gang tonight will keep volume low and most players on the sidelines.There will be more broken promises than Chris Brown to Rhinana from Jokin Joe and we will be told that this is the budget we had to have…of course the pain will be shared as Politicians salaries will be frozen for a whole year…love their retirement benefits too…bet they get them before 70!!

So expect a modest rally today with the SPI up 35 …not sure it will be that good at the end and then tonight is the mother of all budgets..more broken dreams than Hollywood Boulevarde…cuts and more cuts …and of course more roads to get clogged up…It is a pretty poor choice with todays politicians…


Anyway risk was back on in the US last night and tech and biotech rallied hard…some of our more risky plays will follow suit..I am thinking of you Xero and REA etc

Idea of the Day

Will be interesting to see the markets reaction tomorrow…will we applaud a tough budget or will it knock confidence for six..time will tell…suspect that over time it will knock confidence but may get a move up short term …still cautious but maybe I need inside knowledge!!!


Things to make me go mmmmmm!!!

US Vix or fear index hit a low not seen since January 10th..

East Ukrainians have voted overwhelmingly to become independent..the Russians have said that unless Ukraaine pays for its gas by June 2nd,thats it..no more niet..nada…could be interesting as this is far from resolved..Gold perked up a bit on the continuing unrest.

Fears that the tug boat captains will go on strike in Port Hedland with BHP,FMG and others losing a weeks worth of shipping…$100m a day..RIO least affected but will help the iron ore price a little..

Nice big piece in the Herald today about the Uber rich and how they avoided tax..the unfortunate thing is the richer you are the better your tax advisors and trust structures..its the little people that have to go to H&R Block!!Tax Office figures show there are 1095 Australians earning in excess of $150,000 who pay no tax. Half of them sought tax advice and shelled out an impressive total of $98 million, which works out to $223,000 each. Looks like the accountants are doing well…negative gearing the favourite way to get that tax bill down..



And finally…

What is Celibacy?
   
   
 Celibacy can be a choice in life, Or a condition imposed by circumstances. 
   
While attending a Marriage Weekend, My wife and I, listened to the instructor declare, 

‘It is essential that husbands and wives know the Things that are important to each other..” 
   
He then addressed the men, 

‘Can you name and describe your wife’s favourite flower?’ 
I leaned over, touched my wife’s hand gently, 
And whispered, 
‘Self-raising, isn’t it?’ 
And thus began my life of celibacy………. 
   

Have a great day…see you in a different world.

 

Clarence

XXX