On a warm summer’s eve

On a market in the stratosphere

I met up with my broker

We were both too wired to sleep

So we took turns a-buying

Out the screen in the office

The Algos overtook us, he began to speak

 

 

You’ve got to know when to IPO ’em

Know when to sell ’em

Know when to walk away

Know when it’s FUM

You can invest all your money

When you’re sittin’ at IRESS

There’ll be time enough for doubtin’

When the market’s done

 

Morning sports fans,

 

Another positive night to kick us along as the switch from boring banks to something far more sexy continues…FMG and Rio numbers yesterday confirmed why Iron Ore is stuck below $100…they are producing so much…there are two sides to the price equation..supply and demand..the reason the price of Zinc and Nickel is soaring is the supply is not there..the reason the price of iron ore(and Coal) is in the doldrums is supply is plentiful..still it isn’t holding back the Iron Ore stocks now as bullishness is back…resources are back baby!!!A killer combo of good spruiking and some large discoveries and good marketing have been enough to set a fire under the small and mid caps…poster children like SYR and SIR are leading the charge with Graphite, Bollinger and Super Nova….of course then every man and his dog is out there with a coloured presentation of pictures that few brokers understand and the important one is the one that stresses how close they are to another company like SIR or SYR who are flying..nearology is a wonderful thing…anyway the Murray report has shone a light on the potential issues with banks and their divs..so although they won’t crash the smart money is moving into resources at the mo…now with all this activity and money the other sector that should ultimately benefit is the disastrous mining services sector…although it may be too late for BLY as they plumb the depths..

 

The continued circus in Canberra remains such an edifying sight…not really sure why we voted..if it wasn’t compulsory then I think the turnout would be pitiful!!

Idea of the day

As markets all over the world forge ahead and stories permeate the media of huge nickel strikes, we can see that Gold Rush fever is alive and well..investors are warming up their punting boots and dusting off their direct debits to throw money at the next big thing…of course brokers love this as companies love to tap the shareholders on the shoulder for more money…drillers love it because they are back..interestingly we had a presentation from a small resource stock near SIR last night and he was saying that 2013 was the worst he had seen..2014 is so much better so far. At the moment Graphite and Nickel and Zinc are in vogue..bit of copper..anything close to SIR and in Mozambique too…gold missing out as are oil stocks…so without any recommendations..here’s a list of small caps that are close to SIR in WA…SFX, SEG,BUX,ENT,AQD,MAT and RMR..all highly speculative but I know some like these..

 

Things to make me go mmmmmm!!!

Obama is putting more sanctions on the Russians….the last lot were so successful after all….not on Gazprom though as Mertle wouldn’t like that..thats where all the gas comes from.

Japanese looking to restart their Nuclear Industry as one plant gets the nod..

Seems GOT has a new fan as Rupert bids $80bn for Time Warner….he is starting to get worried about Netflix and HBO it seems…

The guy at Google Tech funds reckons Uber is worth $200bn..more than Toyota…he would though he invested!!

Few oil players reporting production numbers today..STO and OSH…More bidders for ROC..

DJs court decision today .Will be a yes for sure…

US fear index at 11!!!Nothing to fear here…except maybe this!!! Tom Waterhouse has been promoted to CEO of Sportinbet and Centrebet by his Labdrokes masters…

Shareholders in Southern Cross Media could be asked to participate in a rights issue, after the beleaguered television and radio broadcaster’s chief financial officer resigned just one month into the job. Speculation is rife among fund managers and analysts that the company could be facing further downgrades to earnings after a profit downgrade in May.

Italy’s GTECH will buy US slot machine maker International Game Technology for $US4.7 billion…implications for ALL and AGI..

China’s home sales rose 33 percent in June from the previous month as price cuts by developers lured buyers.The value of homes sold climbed to 591.2 billion yuan ($95 billion) last month from 446.1 billion yuan in May, according to the difference between the National Statistics Bureau’s data for the first half of the year and the first five months.

From my mates at www.zerohedge.com “So in 12 hours, we have been told: some sectors are stretched (Yellen), there is a bubble but we don’t want to pop it (Fisher), when the Fed ends QE, there’ll be a bear market (former hedge fund guru Druckenmiller), and now Carl Icahn is “worried about markets.”

According to Harvard Business School, 75% of all startups with at least $1 million in funding DON’T even return investors’ capital.Put another way, three out of every four startups that convinced investors to give them at least $1 million in backing fail to even pay back the initial investment.

The Portugese bank at the heart of all the recent Euro ructions rallied big time last night as they are looking at raising capital…

And finally…

Thanks for the donations..have over $320 now for charity..would be nice to get more!!

I just received an audit on my tax return for 2012 back from the ATO. It puzzles me!!!

They are questioning how many dependents I claimed.

I guess it was because of my response to the question: “List all dependents?”

I replied: 2 million illegal immigrants; 1 million crack heads;

2 million unemployed people on the dole,

25,000 people in over 123 prisons, 26,000 boat people, 535 persons in the Aust Parliament and Senate.”

1 useless Labour Party

Evidently, this was NOT an acceptable answer.

I KEEP ASKING MYSELF, WHO The Hell DID I MISS?

 

And as a bonus cos you are all so generous…

 

An Airline introduced a special package for Business men.

 

Buy your ticket & get your wife’s ticket free!

 

After great success, the company sent letters to all the wives Asking how was the trip.

 

All of them gave the same reply…”What trip?”

 

 

Have a great Thursday 

 

Clarence

XXX