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Morning sports fans,
Good to be back….the rampant bull market continues despite the slings and arrows of lacklustre numbers coming out of Europe and some in the US.UK market was closed for its August bank holiday, so nothing there. Lowest volume of the year propels Dow to record and the S&P briefly above 2000!!!
Yesterday we wishywashed down 10 points mainly as a sharp intake of breath hit the iron ore market…much the same today as it breeched $90…this is hardly a surprise given the rhetoric coming from the majors about ramping up prroduction…looks like BHP and RIO are willing to endure some short term pain to grab the market by the throat again in due course and dictate prices without any pesky competition…still maybe global growth is back as the Baltic Dry Index touched 1,061, its highest level since April 9 2014.It has rallied 47% from its recent low of 723 touched on July 22.The index has risen nearly over 40% since the start of August.
We shall see but here we are at 5640 and I still think its toppy…I remain somewhat cautious but maybe that is my nature..happy to go along for the ride but I believe that volatility will be back this spring…as the Fed exits stage left pursued by a bull and our Euro cousins struggle with (new) Ukrainian election, Russian sanctions and a stubborn unemployment rate it’s hard to see what Mario can do to save the day…maybe a plan so cunning you could put a tail on it and call it a weasel…
Idea of the day
Nothing earth shattering as yet….still happy with my bunch…
Whilst I was away Mortgage Choice reported their numbers…best ever…15.5c dividend for the year and let’s face it the property market is being behaving like a rampant bull stock market these days so whats not to like with MOC..5.1% fully franked..$47bn loan book..great management and in a booming industry…reckon we could see 3.30 pretty soon…
Find it a bot weird the papers now print home sales like a stock market prices page…guess that’s what it has become… a speculators paradise..
Things to make me go mmmmmm!!!!
Results continue to come thick and fast with horror show yesterday for BSL…stock was massacred…I think unfairly myself…I suspect this was very overdone and will bounce hard today… The chief executive said the most pleasing result was an underlying earnings before interest and taxes of $65.4m at its Australian coated and industrial products business, a $95.7m improvement.
Hard to believe the Abbott adult government has been in power for nearly 1 year!!!They have achieved so much!!!One day they may even get a budget though…bless…
Banks continue to stuff high yielding punters with hybrids as NAB and CBA both issue billions in bonds at post GFC lows!!No end to the appetite it seems…lots of money around still for IPOs, placements and these hybrids…
Pacific Brands will sell its workwear brands to Wesfarmers after suffering a more than $224 million loss.Pacific Brands, which makes socks and underwear brand Bonds and Sheridan sheets, made a net loss of $224.5 million for the year to June 30, compared to a $73.8 million profit in 2012/13.
Ooops…. Virtus Health said it overestimated the number of in-vitro fertilisation cycles it would perform in its first year as a listed company, leading it to miss one of its prospectus targets. net profit for the year ended June 30 rose 17.2 per cent to $32.0 million.The result just missed expectations among analysts of net profit of $32.3 million
Seems that the enthusiasm to slap sanctions on the Ruskies is starting to wear a little thin as numbers reveal Germans Exports to Russia in H1 2014 dropped 15.5% from 2013 and “may drop by as much as 25% – posing a risk to 50,000 German jobs. Ze German economy is struggling and they are the ones supposed to power the Zombies to prosperity
Zombieland is falling in a hole…Le French are in disarray as Hollandes Government falls apart….no sign of a Eurotrash bounce and now it’s up to Super Mario to actually do whatever it takes!!!Don’t hold your breath!!Still fair is foul and foul is fair!!!
Scotland gets to vote on its independence on September 18th as the two main protagonists faced off last night on a TV debate..I get the feeling that they will vote to stay in the UK but it will be close..in the end the fear of the unknown will subvert the Braveheart factor…
“Fight and you may die. Run, and you’ll live… at least a while. And dying in your beds, many years from now, would you be willin’ to trade ALL the days, from this day to that, for one chance, just one chance, to come back here and tell our enemies that they may take our lives, but they’ll never take… OUR FREEDOM!”
All quiet in Ferustan!!
According to some numbers IS is now making $2m a day in oil and other revenue..nothing like a well-funded bunch of nutters to scare the pants off the world…
A very nice, innocent woman wants to get married, but she is only willing to marry a man if he has never had sex with another woman. After several unsuccessful years of searching, she decides to take out a personal ad.
She ends up corresponding with a man who has lived his entire life in the Outback and he has no experience with women. She is very happy with him, and she feels that they are perfect for each other.. So, they end up getting married.
On their wedding night, she goes into the bathroom to prepare for the evening. When she returns to the bedroom, she finds her new husband standing in the middle of the room, naked.
All the furniture from the room is piled in one corner.
“What happened?” she asks.
“I’ve never been with a woman” he says, “But if it’s anything like a kangaroo, I’m gonna need all the room I can get!”
Have a great day
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