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Morning sports fans,

475938-110801-splendour

More highs than Glastonbury…or Splendour in the Grass as we marched forever onwards yesterday..a killer combo of better financials and better resources was enough to push us up 35 points and smash through the 5600 barrier…caution..nah ..I must be wrong…anyway last night we got confirmation from Yellen (not screamin) that the taper continues at 10bn off a month…she still believes there is slack in the US jobs systems and jobs numbers last night weren’t too flash but GDP came in at 4%!!!No recession there then with that easily taking care of the minus 2.9% previously due to the weather..so US growing at 1.1% over the last six months…stunning ..considering how much money has been thrown at it…anyway…more issues with Russia as sanctions to hurt the sanctionees as much as the sanctioned…and looks like Argentina has defaulted on its debt again!!Although they are still talking looks like things are not going to be resolved…

 

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So did we get ahead of ourselves yesterday?…seems that the punters are hoping that the RBA cuts rates!!!Really…hardly likely to happen given that inflation is 3%…the only reason they want rates down is to get the dollar down…but trouble is the Aussie dollar is more a function of the US dollar weakness that the Aussie strength…anyway I remain cautious..as the market churns higher my caution grows…the only bullish thing was Greenspan(remember him?) suggested that equities could be in for a “significant correction”…….he joins a long line of talking heads on this theme…

 

So where to for our market..I suspect that we may need to consolidate here a bit after the rush of blood to the head ….reporting season is now ramping up …RIO doh!..Iron Ore up 0.6% last night…Will help the miners…hasn’t oil come off a fair bit?Noticed it when I filled the car up with petrol last night..all helps

 

Idea of the Day

 

Lynas has risen nearly 50% since my recommendation to buy them…quarterly production report out today so not sure how the market will take it…price seems a bit weak on their Rare earth sales but production and sales increasing…new CEO,new attitude…still like this one…dogs are barking..…maybe a little weakness on the numbers…under 18 probably a buy again…early indicators show weakness…

 

Here’s a solid blue chip stock to have a look at..AMC– news today that they have developed a new technology to make plastic bottles cheaper  by using whatever is to be bottled to blow the shape of the bottle…simples..should really kick things along…expect stock to move towards the top of its range towards 11.00….

 

If you need more info on the Future generation Fund or QV Equities let me know…

 

 

Things to make me go mmmmmm!!!

 

“Fed man PLOSSER DISSENTS ON DECISION, CITING GUIDANCE ON RATE OUTLOOK FOMC SEES SIGNIFICANT UNDERUTILIZATION OF LABOR RESOURCES FOMC: ODDS OF PERSISTENT SUB-2% INFLATION `DIMINISHED SOMEWHAT”

 

Scottie dogs at the Commonwealth games have been criticised by a Muslim Group in Malaysia as being disrespectful!

 

LNG has extended the meteoric rise in its share price this year after completing a $38.6 million capital raising to fund a Canadian LNG export project, but will it last…does seem to have run way too hard and too fast but hey….

 

RIO has sold its Riversdale Coal project in Mozambique for $50m….these guys are good they bought it for $3.5bn….that and the Alcan purchase…no wonder shareholders want divies not companies splurging on ego driven M&A activities….so much money wasted…

 

A surge in the number of technology start-ups using unloved exploration companies for backdoor listings has caught the attention of the corporate watchdog, with the Australian Securities & Investments Commission warning investors and directors to use caution.

 

Village Roadshow has been complaining about the state of the Aussie Film Industry…let’s face it Industry..really..they call it an industry…more a hobby than that….hardly surprising that people don’t go to the cinema so much these days…it costs a fortune!!!!Box office takings are down 12% in the last month as piracy reaches critical mass..

 

Ever wondered why the RBA is becoming less relevant …well the big four banks raised $125bn last year in wholesale markets in 13/14..20% more than the previous year..no wonder that can engage in turf wars and discounting for home loans..

 

The French have a way with things… Francois Hollande’s government may have made a housing slump worse, pushing the construction market to its lowest in more than 15 years.

Housing starts fell 19 percent in the second quarter from a year earlier, and permits dropped 13 percent, the French Housing Ministry said yesterday.The rout stems from a law this year that seeks to make housing more affordable by capping rents in expensive neighborhoods.Vive la Revolution..no wonder all the French have gone to live in London!!!

 

That has gotta hurt spending power…..Health-care insurance premiums for individuals in California rose between 22% and 88% in 2014.

 

Ebola!!UK starting to get worried…not good for World tourism!!1bn people went to a different country last year!!

 

And finally….

 

Bill Clinton started jogging near his home in Chappaqua.  But on each run he happened to jog past a hooker standing on the same street corner, day after day.

With some apprehension he would brace himself as he approached her for what was most certainly to follow.

“Fifty dollars!” she would cry out from the curb.

“No, Five dollars!” fired back Clinton.

This ritual between Bill and the hooker continued for days.  He’d run by and she’d yell, “Fifty dollars!”

And he’d yell back, “Five dollars!”

One day however, Hillary decided that she wanted to accompany her husband on his jog!  As the jogging couple neared the problematic street corner, Bill realized the “pro” would bark her $50 offer and Hillary would wonder what he’d really been doing on all his past outings.   He realized he should have a darn good explanation for the Secretary of State.

As they jogged into the turn that would take them past the corner, Bill became even more apprehensive than usual.

Sure enough, there was the hooker!

Bill tried to avoid the prostitute’s eyes as she watched the pair jog past.

Then, from the sidewalk, the hooker yelled…

See what you get for five bucks!?”

 

Thanks to the generosity of readers out there I am up to over $700 for starlight for the City to Surf on the 10th August!!Keep it coming ,it’s a great cause…

 

https://city2surf2014.everydayhero.com/au/henry-2

 

Have a great day,

 

I am off up the Mountains for a few days so no report tomorrow or Monday..unless something major happens that is…

 

Like this quote that NAB are using on their web site…

 

“A ship in a harbour is safe, but this is not what a ship is built for”. Not sure who said it but sure wasn’t Bruce Ismay!

 

Don’t forget to get your PIN too..starts tomorrow

 

Clarence

XXX

 

Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.

 

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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