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Morning sports fans,

 waiting-for-godot-stc-2013-hugo-weaving-richard-roxburgh-3--lisa-tomasetti

 

 

‘Waiting for Mario’

 

 

Yet another tragic beheading in the Middle East as IS seems to be baiting the US into an escalation of military action…I remain puzzled that the market are so sanguine to geo political events…if you listen to Ukraine ,it’s a full on invasion from the pesky Ruskies but if you listen to Obama (in between swings) it’s just the same as before…mmmm…suspect Obama might be channelling Chamberlain! Anyway with a NATO exercise scheduled with US troops for the middle of September in Ukraine, things might start getting interesting….markets choose to focus on US economic news and await the Super Mario plan…due Thursday..talk is that he may do something really drastic like lower rates by 0.1%…sure that is going to help the 3.5m French on the dole or the Greek issue…or the Spanish or the Germans or anybody for that matter…guess the important thing though is the currency differential and how it makes Zombieland more competitive…US rates rising,Euro rates falling so Euro down US up…will help…although sanctions and a war on your doorstep are a bummer!!!

 

To our market and the abolishment of the Mining Tax…not sure why it is going to make any difference  really..no one paid it anyway…let’s face it if you get to write your own tax rules why would you pay…I have to say I was a strong supporter of a MRRT…on super profits from miners  and using that to invest in the country rather than Plasma TVs…unfortunately the Labour Government stuffed up a really good idea and spent the money before they got the revenue ,much like my daughter does..but at least she has more fun!!

 

So what’s in store for our market..despite six year highs I remain a little underwhelmed…Iron Ore is struggling big time,gold got whacked last night as did oil…cant see our market really pushing ahead except for banks and TLS…risks seem to be rising and I expect more volatility in the coming months…I am off next Wednesday for a week on a marketing trip so its bound to happen when I am away!!!

 

This may explain why the Iron Ore price is so stuffed at the moment…

 Iron ore China

 

 

Idea of the day-LYC gets the nod and OSH impresses at conference.

 

Today my old fave LYC got its full operating licence…there is now just the small matter of the Japanese debt which has to be solved by month end…if this is a positive outcome too, the stock will really start to motor…I watch and wait but remain positive for those that followed me in…have to declare I sold mine at 17.5 after buying at 14 but still like the story,just like to trade more!!

 

Yesterday I was lucky enough to go to the in-house conference on energy stocks…OSH my friends OSH…quality…these guys are in the cusp of massive increased in production..of course everyone knows about it and has for months..but as production increases so too will cash..as cash increases so will dividends..as dividends increases o will share price…simples…they are in the midst of a strategic review that will be announced at the end of October…This stock is a buy…for investors looking for growth and increasing yield should be on the shopping list…

 osh production

 

 

 

 

Things to make me go mmmmmm!!!!

 

Clive Palmer walks from another TV show…no Ice Bucket Challenge for him…done mine..come on Clive!!

 

Why is the biggest news story around the hacking of Jennifer Lawrence’s nude photos!!Sure Catniss would be able to sort out the hacker…Apple in damage mode ahead of iPhone 6 launch…

 

 

After snapping up huge mountains of cheap housing in the US to rent them out to poor people with no credit rating, the US investment banks and funds are turning their sights to Spain… The country, for five long years a toxic no-go zone for foreign investors, is now at the top of the list for private-equity firms, hedge funds and sovereign wealth funds hunting for cheap assets in Europe. Suggest now is the time to dust off those plans to buy a Soanish villa…let’s face it the big buyers have always been the Brits looking to replicate their fun in the sun ‘Inbetweeners’ holidays…when their property marlet crashed so did the villa prices..now of course UK is flying and as sure as eggs are eggs, villa prices will once again get pushed higher…

 global-graphics-20_1128191a

 

China’s powerful economic planning agency has called on Australia’s big iron ore producers to come up with a better pricing system for the commodity, following a meeting with BHP Billiton’s local chief.

 

Surging demand for Apple’s iPhone 6 in September will grow Telstra’s ­domination of the mobile market and win it an extra $500 million in ­revenue

 

 

Goldman Sucks has said…“In the coming months, China’s National Bureau of Statistics is to make adjustments to the methodology used to calculate GDP. These adjustments are likely to boost real GDP growth by 0.1-0.2pp, thereby making it easier for the government to reach its goal of “around 7.5%” GDP growth in 2014.”

 

Gonski is now predicting the housing  bubble too…we all know there is a bubble but it is consigned to certain in demand areas…buyers are racing into buying things unseen in some cases as the greed and the FOMO(fear of missing out) takes over…overseas investors continue to favour Australian Capital cities as a place to invest,geta  visa and watch the kids at UNi whilst breathing clean air…can’t blame them really…and property always goes up right so why not just pay up..five years time that two bedder will be worth $2m anyway!!!

 

We saw GJT yesterday a Japanese property trust which is cheap… Net asset value (“NAV”) of A$233.2 million ($2.19 per unit) compared to the pro forma NAV in the EM of $2.16 per unit…currently trading at 170   here’s another reason why too….Investment in Tokyo properties is surging on prospects that rents will rise, boosting returns, even after a 20 percent gain in prices since Japanese Prime Minister Shinzo Abe took office almost two years ago.

 

In the US, the ISM’s manufacturing PMI increased to 59.0 in August from 57.1 in July. The PMI is at its highest level since March 2011.

 

In the UK the surge in support for an Independent Scotland is a happening thing..going to be close but I reckon in the end they will stay part of UK…but only just…maybe for the same reason that we stayed a constitutional monarchy… also the unofficial but closely watched Markit UK manufacturing PMI survey fell from 54.8 in July to 52.5, its lowest reading in 14 months.

 

 

And finally….Best Comeback line ever? You decide….

 

 

Recently, a female police officer arrested Patrick LAWRENCE, a 22 year old male, who was caught fornicating with a pumpkin in the middle of the night. The next day, at the Horsham Court (Victoria, Australia), LAWRENCE was charged with lewd and lascivious behavior:  public indecency and public intoxication.

 

LAWRENCE explained that as he was passing a pumpkin patch on his way home from a drinking session, he decided to stop. “You know how a pumpkin can be soft and squishy inside… well, there was no one around for miles – or at least I thought there wasn’t anyone around…” he stated.

 

LAWRENCE went on to say that he pulled over to the side of the road, picked out a pumpkin that he felt was appropriate to his purpose, cut a hole in it and proceeded to satisfy his pressing need. “I s’pose I was really into it, you know?” he commented with evident embarrassment.

 

In the process of doing the deed, LAWRENCE failed to notice an approaching police car and was unaware of his audience, until Senior Constable Brenda TAYLOR approached him.

 

‘It was an unusual situation, that’s for sure,’ said Senior Constable TAYLOR. ‘I walked up to LAWRENCE – and he’s just banging away at this pumpkin…’

 

Senior Constable TAYLOR went on to describe what happened when she approached LAWRENCE … “I said; ‘Excuse me sir, why are you having sex with a pumpkin?”

 

“LAWRENCE froze, and was clearly very surprised that I was there, but then he looked me straight in the eye and said, ‘A pumpkin?  Shit – is it midnight already?”

 

The court (and the magistrate) could not contain their mirth.

 

Have a great Wednesday…back on Sky Biz at 12.00 today

Clarence

XXXX

 

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

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