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Morning sports fans,

Finally nice to see some green from the US as better earning from Buffet’s company helped plus the world not ending over the weekend due to Argentinian default and the Portuguese Banco Espirito Sancto being bailed out…Zombieland inflation(rather no inflation) is still a concern but at least the Israeli/Palestinian blood bath has been temporarily halted too…so all good really..we get some news today from the RBA which will confirm that rates are on hold for a while to come..

 

zombies-972x546

Expect another bounce today as financials and miners push ahead ..wouldn’t get too carried away just yet as I believe that we still have some more downside to come…results season should be interesting…my patented bank index is at 184.5…just add the big four share prices together …feel that it is a bit toppy and risks building for the banks as regulators around the world look to rein in their “too big to fail” risk…

 

Really nice to get away from the market for a few days in the Megalong Valley in the Blue Mountains…puts things in perspective…anyway volume is still pretty thin and expect a 20 point rally and then wait for Uncle Glenn’s comments…

 

Finding it hard to come up with new ideas at the moment…results season the focus…DO NOT DISAPPOINT…markets are priced for perfection..interestingly 76% of US stocks beat expectations and the market still carked it…so maybe unpublished /trader expectations were higher…

 

Idea of the Day 

A big thing in the paper the other day about the Future generation Fund that is being launched by Geoff Wilson..worth a read and happy to send through the prospectus..we have a priority allocation if interested..

 

http://www.smh.com.au/money/super-and-funds/robin-hood-fund-robs-rich-of-fees-20140731-zyd8s.html

 

Things to make me go mmmmmm!!!

 

Biggest crowd ever for a US Soccer game as Man Utd took on Real..110,000 people turned up it seems..and still Qatar got the world cup..really?3-1 to Man Utd BTW

 

French nude art models have gone on strike in a demand for higher wages. Not only wages but also holiday pay and sick leave too…empty sketch books are waiting …

_DSC8532 

Hopefully the man admitted in the US for Ebola does not appear to have it..which is good news if confirmed. Seems a small US biotech stock has something that may help …African Leaders have defied the disease and have arrived in Washington for a US African Summit

 

Heavy engineering outfit Downer EDI has posted a year to June net profit of $216 million, as the downturn weighed on its performance. The year earlier net profit was $204 million. Earnings a share rose to 46c from 43.1c.The net profit was in line with its $215 million net profit forecast for the full year.

 

Another better bid from Private equity group KKR for TWE… $5.20 should do it….

 

A good chart from Deutsche on the effects the Fed balance sheet has had on expanding the market. Now the big question comes when the Fed starts to shrink its balance sheet..will we see more volatility..I expect so..

 

Db warning chart_0

 

US Secretary of State John Kerry, at a meeting with Southeast Asian nations this weekend, will press for a voluntary freeze on actions aggravating territorial disputes in the South China Sea, in spite of Beijing’s rejection of the idea.

 

Recent superstar oil stock TPT has crashed and burnt I am afraid as the results of their recent drilling came in today…no significant hydrocarbons..plugged and abandoned..ooochh!!!

 

Yesterday was the centenary of the start of WW1 and the lights went out again all over Europe….

 

Things happening today…

 

  • Australia AiGroup Performance of Services index, ANZ Roy Morgan consumer data, trade balance,
  • RBA board meeting and cash rate announcement, inflation data;
  • China: HSBC services PMI, composite PMI;
  • Euro zone services PMI composite PMI retail sales; UK PMI services;
  • US Markit services PMI, composite PMI.

 

 

 

And finally…..

 

Tiger Woods & Stevie Wonder are in a bar…

 

Tiger says to Stevie, “How’s the singing career going?”

 

Stevie replies, “Not too bad. How’s the golf?”

 

Woods replies, “I’ve had some problems with my swing, but I think I’ve got that right, now.”

 

Stevie: “I always find that when my swing goes wrong, I need to stop playing for a while and not think about it.  Then, the next time I play, it seems to be all right.

Incredulous, Tiger says, “You play GOLF?”

 

Stevie: “Yes, I’ve been playing for years.”

 

Tiger: “But — you’re blind! How can you play golf if you can’t see?”

 

Stevie: “Well, I get my caddy to stand in the middle of the fairway and call to me.  I listen for the sound of his voice and play the ball towards him.  Then, when I get to where the ball lands, the caddy moves to the green or farther down the fairway and again I play the ball towards his voice.”

 

“But, how do you putt” asks Tiger.

 

“Well”, says Stevie, “I get my caddy to lean down in front of the hole and call to me with his head on the ground and I just play the ball towards his voice.”

 

Tiger: “What’s your handicap?”

 

Stevie: “Well, actually — I’m a scratch golfer.”

 

Woods says to Stevie, “We’ve got to play a round sometime.”

 

Stevie: “Well, people don’t take me seriously, so I only play for money, and never play for less than $10,000 a hole.  Is that a problem?

 

Woods thinks about it and says, “I can afford that; OK, I’m game for that … $10,000 a hole is fine with me.  When would you like to play?

 

Stevie:     “Pick a night.”

 

Only a few days to go until I attempt my second City to Surf …still time to sponsor me if you feel like helping sick kids…there’s those heart strings pulling …

 

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

 

 

Have a great day

 

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.

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Get a Global take on things at http://www.ntmarkets.com

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