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Morning sports fans,

 

Dow back to the same level it was on Christmas Eve as stories that Russia is about to invade as retribution for the sanctions gained credibility..lots of nasty Spetsnaz forces amassing at the border..anyway despite the better than expected US economic numbers it was time to cash in some chips..

spetsnaz_tiger_battalion_by_lordhayabusa357-d6m84tb

 

 

I got it pretty wrong yesterday..shows what a weekend away can do for the feel of the market…so maybe my antennae needs a bit of re-tuning…as you all know I have been cautious since May..haven’t changed my opinion as we need a good clean out before we press higher..the world is starting to focus on the risk that the US will raise rates sooner rather than later given the ‘strength’ of the US economy..UK next cab off the rank then US..they are doing it in alphabetical order apparently…coordinated central bank action..NZ,UK,US…

 

Locally nothing really seems to be happening as we transition to the post mining boom world…budget doesn’t seem to be even close to getting passed which is worrying given that its nearly a  year since Abbott got the nod for his go at the helm of the good ship Austraya…so the budget emergency …what’s happening with that eh? Some emergency then if here we are a year down the track and nothing has really been done..oh yes carbon tax repealed…and Mining tax on the way out(not that it raised anything in the first place anyway)..lucky we don’t have a crisis then..only an emergency…

 

Idea of the Day

 

 

Patience Grasshopper..patience…we will see 5450 again I suspect so there is no reason to jump in just yet…results season will be the catalyst…

 kung-fu_tv-master_po-young_grasshopper

 

I have banged on about the Future Generation Fund for a few emails but the issue is still open and the beauty is that they will have cash and be able to buy a few things cheaper in the coming six months..

 

For those looking at stock specific ideas I am still a big fan of Affinity Group which is the baby GEM…they have a similar business model and the weakness that has come from the productivity commission enquiry into childcare should not really affect them….GEM has rallied big time since mod July up to nearly $5.00 whilst AFJ has languished…I strongly believe that as the market gets comfy with their management and model the stock will rerate and/or get taken out by GEM as its easy to do a bite size acquisition ..cut the management costs out and Bob is your father’s brother….

 

Down 25 today …bit of buying will creep in…at lower levels..stay patient..

 

 

Things to make me go mmmmm!!!

 

If earnings have beaten estimates of 76% of US companies why is the market not raging…why has Warren (Margaritaville) Buffet got $50bn in cash waiting for the fat Pitch!Why has Rupert abandoned his bid for Time Warner…maybe the market is overvalued …we shall see…

 

Anyone listening..I’ll say Cohlear, soared yesterday after management gave a rosy outlook statement..shorters running for the hills…shame….meanwhile Mining services giant DOW struggled yesterday as it revealed a gloomy outlook and 2000 job losses..seems there is still more pain in selling shovels to miners sector…

 

Looks like Kerry Stokes has played a good game and is about to pick up Nexus assets from the receivers at a knock down price..well played sir,well played…shareholders to get nada it seems…

 

Anything that upsets Andrew Bolt gets a tick from me!!!I don’t say this often but well done Tony!!

 

Interesting to listen to the regulatory chief at iinet on the radio last night talking about the new government proposal to store all our digital data…bit scary…they also reckon that it will cost them $100m to implement it…guess who will be paying that!!!That’s right..carbon tax gone,digital tax here…very 21st Century!!!

 

Seems scientist have discovered that the huge crater in Siberia is caused by melting ice under the tundra releasing vast quantities of methane…now methane makes Carbon Dioxide look a minor issue…major downside for our tiny green and blue planet ….

 

Read on facebook yesterday that WD40 is in fact based on fish oil…squirted myself today in preparation for my City to Surf run as I don’t want to run like the Tin Man…doesn’t taste like fish oil and the arthritis is still there…load of old fish roe!!

 

Abbott says “We are not as bad as the Gillard Government” well that’s something…

 

A top US General has been assassinated in Afghanistan..highest ranking soldier killed there..

 

On September 18th the Scots vote to stay or go from UK..another interesting scenario in the making…

 

RBA keeps rates on hold..dont know why we bother waiting for the official news anymore ..we all know the result…

 

Former Kathmandu founder is having a shocker..not only has she doen 4200m on her failed variety retail adventure but her Bellamy Organic Milk company from Tasmania listed yesterday and promptly went to a 30% premium ..unfortunately for Not Happy Jan she sold her stake pre float for $36m and missed out on a further $12m which would have nearly paid her settlement for claims of insolvent trading…definitely Not Happy Jan…

 

 

And finally…..apologies in advance if this offends but not good at being PC with humour!!!

 

Calvin Rickson, an engineer from Texas A&M University, has designed a bra that keeps women’s breasts from jiggling, bouncing up and down, and stops their nipples from pushing through the fabric when cold weather sets in.

 

After a news conference announcing the invention, a group of men took Mr. Rickson outside and kicked the s**t out of him.

 

Have a great Wednesday back on Sky TV today at 12.00…love to get to $1000 for the sick kids at Starlight if anyone feels generous..every little helps…last years effort!!!

546

 

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

 

 

 

 

 

 

Have a great day

 

Clarence

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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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