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Morning sports fans,

As sure as night follows day, the Dow rallied as the punting public concluded that the downed tragedy of flight MH17 was not germane to the markets…I wonder if the US would be so silent and ineffective if their citizens had been murdered…anyway I do not believe the risk is less ,I get the feeling that things are getting worse and RasPutin (hide the evidence) attitude is a disgrace and serious sanctions and action should be taken…our market rallied hard on Friday in anticipation so don’t expect too much today…if anything I feel we might sit firmly on the sidelines…I recently watched a great show on SBS about the start of WW1…one Archduke and his pregnant wife were assassinated in Sarajevo and from there it just escalated..I think the west has placated Rasputin for too long as he holds Europe to ransom for its energy…bickering and indecision are now taking their toll…this is making me feel nervous…I am happy to stay out for a few days and watch…come on EU grow some!!

Expect a go nowhere day today despite SPI futures rallying on Friday

Idea of the Day-Good to see LYC moving up finally!!

There is no doubt the worm has turned. The whole atmosphere in resource stocks has changed and the punters are back…quality stocks got too cheap and M&A activity was sure to follow…it will continue…

If I told you there was a resource company sitting on 15mt of copper and 17m Oz of gold..had $200m in cash and was trading at a valuation of $250m coupled with being in partnership with Glencore ,you would be quite keen to buy this stock…after all there are junior explorers with absolutely nothing but hope trading at higher valuations…in June it got down to 15c which was under cash backing!!!Since then it has rallied to 21c but even Bougainville Copper is valued at $176m by the market and has sat idle for years and likely to remain so…so what is the name of this stock and why is it so cheap…it’s called Indophil IRN….and the reason it’s so cheap is that the project is in the Philippines and not a good part at that..the project is owned 62% by Glencore and they don’t like Greenfields projects especially of the size of this one..so IRN just are sitting there with 35% of a potentially huge asset with first right of refusal to take out Glencore and of course $200m in cash…this project will not go the same way as BOC  and any fall under 20 cents is worth looking at..speculative stock but the cash is a great incentive…cash backing around 17c!!Glencore faffing around and making no decisions !

Things to make me go mmmmm!!!

Jim Rockford dies..sad..grew up on the Rockford files and the Great Escape..

Rory McIlroy wins the British Open…

Have become addicted over the weekend to a brilliant HBO series called Newsroom..written by Aaron Sorkin..fantastic television…one episode finishes and then it get me another!!!

Israel continues its bombing and ground attack in Gaza…Syria, Libya ,Iraq, Afghanistan, Ukraine…the world seems a far less safe place now the Yanks have fracked their way to perceived fuel independence and don’t need Middle Eastern Oil quite so much…US foreign policy continues to be driven by Oil…

BRU used to get on so well with the local aboriginals but seems that they are struggling at the moment as the local landowners have banned them from fracking…of course they have a permit from the WA Government to continue but it’s not a great look if the locals are against you..

Maybe Uranium stocks will find some friends soon with reports that sales to India may soon start and the restarting of the Japanese Nuclear program…if Germany had Nuclear power maybe they could stand up to the Russians..they certainly used to!

Italy has cut its GDP forecast to 0.2%..pretty much nothing and suggests they may be optimistic…with France in dire straights, Germany slowing down ,itr must keep Super Mario awake at night..not sure Spain and Greece will be able to take up the slack…

And finally……. A woman and a baby were in the doctor’s examining room, waiting for the doctor to come in for the baby’s first exam.

The doctor arrived and examined the baby, checked his weight and, being a little concerned, asked if the baby was breast-fed or bottle-fed.

‘Breast-fed,’ she replied.

‘Well, strip down to your waist,’ the doctor ordered.

She did. He pinched her nipples, pressed, kneaded and rubbed both breasts for a while in a very professional and detailed examination.

Motioning to her to get dressed, the doctor said, ‘No wonder this baby is underweight. You don’t have any milk.’

I know, she said. “I’m his Grandma, but I’m glad I came.”

faceless

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have a great Monday

Clarence

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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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