Morning sports fans,
Well its the 4th July and to celebrate the US market hit another all time high as good jobs numbers spurred the bulls back.No change in interest rates in Zombieland and the Gov’nor yesterday did his best to spook the property and currency markets in Sydney….won’t last as we conveniently forget all this in the next few weeks.
Looks like our market is going to have a go at the top of the trading channel in the next few days as confession season passes,tax loss selling abates,world markets continue to stream ahead on free money and now the prospect from Uncle Glenn that interest rates will be cut …well, maybe anyway to help get the dollar down…so caution being thrown to the wind..full speed ahead and damn the torpedoes!!!Me, I remain a little sceptical…the summer of 87 was a halcyon time…much like today …A month of glorious football,Wimbledon and everyone streaming overseas for their holidays …suspect the 3rd quarter will be a testing time as reality comes home to bite especially with the Fed stepping out of the market..so hang on enjoy the ride..remain sceptical and cautious..when the music stops everyone thinks they are smart enough to get put just in time…rarely happens that way!!!!
Idea of the Day
Yesterday I got my hands dirty and went on a broker visit to the Indoor Sky Diving Centre at Penrith,right next door to Panthers.Now there is a scary place,it’s huge and at 12.00 on a Thursday the car park was full!!!Gotta love those Pokie addicts..anyway the iFly centre next door is very impressive.This stock is one of the best performing IPO’s..listed at 20c and now 70c.There is a reason these guys have delivered everything they said they would.Since listing and raising the money they have built and opened an impressive facility allowing people to fly,literally.The guys behind it are ex SAS and it shows.the 6 Ps come to mind.”Prior Preparation Prevents Piss Poor Performance”..quality leadership and planning are evident and the facility is world class.catering to fun flyers and the military and sky diving enthusiasts alike it is proving to be very popular and a true draw card.Now the boys are never going to make a fortune with just one centre so there is now going to roll them out across Asia and Australia.First stop will be the Gold Coast.There is very little technology risk as the machines,basically a wind tunnel stood upright ,is an out of the box solutions from their US partners so the risk is in the marketing and the location..right in the middle of the action in Surfers seems to be a pretty good location!!!They cost $10m to build and have learnt a lot from the first one and now its all about getting bums off seats!!
This is happening with good marketing and promotion especially to the military that use it to train and skydivers preparing for competitions…yes there really are contests..so to my untrained eye it looks like a winner…the management is quality and as a result have attracted a heap of small instos onto the register and also David Ex CBA Murray is a director so its quality through and through…The stock is thin though so patient may be required and sellers are rare so doesn’t take much to get it up..the team is committed to delivering on their forecasts and I suspect they will and more…this one is a speculative but for expanding footprint of a quality operation..well recommended…
Did I mention its terrific fun and addictive!!!
Things to make me go mmmm!!!
Now I know the headline number in the US is good…288,000 jobs created but most appear to be in the part time world…full time plunged by 500k and part time rose by 800k…these are big numbers..most since 1993…headline rate is 6.1% so everything is ok ?Isn’t it?No one cares about the quality of the jobs after all or what they pay ..just the headline number…at least in the markets that is.
Conbank has done a bang up job with managing the current financial planning crisis..Ian Narev should have come straight back from holiday..didn’t he learn anything from the BP chief executive!!!
And finally…Happy Independence Day to our US buddies!!!
**This is Daddy.**
**Is Mummy near the phone?’**
**She’s upstairs in the bedroom with Uncle Paul.’**
**After a brief pause,**
**’But honey, you haven’t got an Uncle Paul.’**
**’Oh yes I do, and he’s upstairs in the room with Mommy,**
**’Uh, okay then, this is what I want you to do.**
**Put the phone down on the table, run upstairs**
**And knock on the bedroom door and shout to Mummy**
**That Daddy’s car just pulled into the driveway.’**
**’Okay, Daddy, Just a minute.’**
**A few minutes later**
**The little girl comes back to the phone.**
**’I did it, Daddy.’**
**’And what happened, honey?’ **
‘Well, Mommy got all scared, jumped out of bed with no clothes on and ran around screaming.**
**Then she tripped over the rug, hit her head on the dresser.** **And now she isn’t moving at all!’**
**’Oh my God!!! What about your Uncle Paul?’**
**’He jumped out of the bed with no clothes on, too.**
**He was all scared and he jumped out of the back window**
**And into the swimming pool.**
**But I guess he didn’t know that you took out the water**
**Last week to clean it.**
**He hit the bottom of the pool and I think he’s dead.’**
**Then Daddy says,**
**’Swimming pool? ………..**
**Is this 486-5731?’*
Have a great weekend
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