Morning sports fans,
Seem to be shaking off the near death experience of Man Flu!!Close call though…when it bites it bites hard!
Last night we had a small rally..nothing to get very excited about ..Zombieland bucked up after a near 1% fall on news that RasPutin has ordered his troops back to their barracks to make some more blinis and Vodka for the rebels…it was enough though to help them recover…US stocks in the positive as they mill around this all time high…small caps and tech stocks rebounded as some bargain hunters stepped in..however it was the lowest volume day of 2014 which says something about the enthusiasm at these lofty levels…
Expect a modest rally today especially in non-mining stocks as we probably got a bit overdone yesterday…Iron Ore though has slipped below $100 which is a negative for sure..although for a commodity that means so much for our economy it is not the most transparent …we can see big falls on no volume but there is no doubt that the hot air that is escaping from the Chinese economy is having a big impact on demand and sentiment…not sure that will finish anytime soon..
I continue to remain cautious…it’s not very exciting but it’s hard to find great value out there..volume will remain low..confessions will be front and centre..had a couple yesterday..Bradken and now Austin to come…China is running out of puff..just look at the slide in Crown casinos as the Chinese Macau casino sector takes a bath on new restrictions..
Idea of the Day
In a sea of troubles ,Telstra is sticking out like the proverbial..David Thodey has done a great job in turning around this one..no more fights with the Government unlike his predecessor..better customer relations and the NBN win to boot..not really sure what happening with the NBN though….Malcolm has been very quiet since Joe, Tony and Christopher have formed the unholy trinity….will never pass my house..GOT will take a lifetime to download..but the yield, the insulation from troubles abroad, coupled with a mountain of cash, make this a solid investment and though I don’t like the general market at the moment if you want to put cash in here is not a bad place..dividend in August…
Now I know everyone talks about the property boom but the house my wife and I sold 11 years ago is back on the market..they are asking 100 grand less than we sold it for!!!2003 property prices gotta love them…
Things to make me go mmmmmm!!
Two pieces of news..Johnny Wilkinson to retire and Queen to tour again…with an American Idol runner up!!!
And in the UK still, 2000 people were asked the following question… Would you have sex with a robot? 1 in 6 said yes…bit creepy!!
Things appear to be hotting up in Vietnam as they are taking their Strategy from RasPutin’s playbook and amassing their army on the border of Vietnam..meanwhile in Ukraine Vlad the Enforcer has ordered his troops back to their barracks…again!!!
More Thai holiday bargains coming our way as The Thai army declares martial law…
The ECB’s Nowotny said the situation today in Zombieland is “not deflation but long-term low price development.”Gotta love Eurospeak!
Jokin’ Joe is gonna love this after his trial by fire last night on Q&A… Ratings agency Standard & Poor’s is warning Australia’s prized AAA credit rating could be reviewed unless substantial cuts are made to the budget in coming years.
Well this one was a no brainer… South African retailer Woolworths has opened the door to selling off David Jones’s $612 million property portfolio to reduce the cost of its $2.15 billion takeover offer.
Credit Suisse has pleaded guilty to helping Americans cheat on their taxes, making it the first bank in more than a decade to admit to a crime in a U.S. courtroom and marking the end of a three-year probe of the Swiss firm. Credit Suisse is said to have reached an agreement to pay $2.5 billion to resolve the case.
Go Pro is set to list….Buy The IPO – Be A Hero…not….
This is a sad reality..but I guess we are a leader in something!!!
This is nice…Jordon Belfort otherwise known as the “Wolf of Wall Street” reckons he will make 4100m this year from motivational speaking… “After six months of putting all the profit from the U.S. tour into an escrow account, it will go directly back to investors,” Belfort said. “Once everyone is paid back, believe me I will feel a lot better.”He reckons greed is not good!!!Anyway the film does hold one record as the most times the F Word is said…569 times…
Commodity gains in Nickel which rose 5% and copper which rose to a 10 week high added to the market gains and West Texas oil increased to 101.77 a barrel.
Deutsche Bank dropped 1.7% after selling 60 million shares to the Qatari royal family as it announced plans to raise 8 billion Euros ($11billion).
Backbenchers as one Liberal MP has called for slapping GST on food…that’s ok cos the poor don’t eat much anyway!!
“In my many years I have come to a conclusion that one useless man is a shame, two is a law firm and three or more is a government”.
Have a great Tuesday
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