Morning sports fans,
Tired, tired of being admired Tired of love uninspired Let’s face it, I’m tired. I’ve been vith thousands of men Again and again They pwomise the moon They’re alvays coming and going and going and coming And alvays too soon. Wight, girls? I’m tired, tired of playing the game. Ain’t it a cwying shame? I’m so tired. Goddammit, I’m exhausted.
Much ado about nothing perhaps….not much to go on overnight but the slide in our market will continue…after reporting season we seem to be in the Goldilocks market..not too hot..not too cold…hard to find value but equally hard to get too bearish when rates are so low..sideways to down is my favoured scenario for the next week or so..maybe the next month..lots of fund managers are in vast amounts of post report briefings and trying really hard to digest what is happening out there…
Gold got whacked again last night as did oil and Iron ore stabilised at $83.60…UK pound under serious pressure as vote approaches…
Expect a small pullback again today in our market as we pull back to 5550…again I suspect the banks may bare the brunt of it as question marks remain..however pretty hard to find yield like this fully franked and in the midst of a housing boom..again!!!Jobs numbers this week will hopefully confirm that last months rogue number was just that and the economy is at best stagnant..yesterday we had internet job ads which was a positive but if anyone believes those they are in cloud cuckoo land…most online ads seem to be fishing expeditions from recruitment consultants eager to fill their databases for when a real job comes along…when you phone up the agency amazingly the job advertised has been filled but if you could come in for a chat about something else seems to be the line!!
Idea of the Day
Talked GEM/AFJ yesterday and I like AFJ…around $1.20 it’s a buy!!
Some time ago I talked a small cap one called YPB…it was listed at 20 cents and was involved in counterfeit tracking..impressive record since listing as its now 37c…still stuff happening in the small cap space maybe next time…if you refer back to my note of 20th June you can get a quick look at YPB.
Things to make me go mmmmm!!!
Logistics giant Brambles has bought UK-based Ferguson Group for £320 million ($555 million) in a move that will expand its specialist containers business.
The world’s most expensive Video game is unveiled tonight at midnight..it’s called Destiny and cost $500m to develop…wow!!
Australian miners backed by Chinese investors are expected to ride out recent lows in the iron ore price, but juniors without support from the Asian giant will struggle for survival, a leading commodity strategist has warned.
As usual here in Australia we get right royally ripped off.. Season two of the popular Netflix series Orange is the New Black costs us a minimum of $27.26 through Google Play, 219 per cent more than US Netflix customers pay. Foxtel Play (on-demand) consumers pay $45.45 for the series, 431 per cent more than via Netflix….no wonder we are a nation of Pirates…let’s face it we want a fair go…no one likes to think they are being ripped off no matter how much money is involved.
Trump Entertainment has filed for Chapter 11 bankruptcy protection….for the fourth time!!!!
The USD surged to fresh 15-month highs, ripping another 0.6% higher as GBP, EUR, and JPY all faded dramatically.
Looks like Zombieland is going all in with RasPutin as it attempts the Leningrad option…they are placing huge restrictions on Russian energy companies in an attempt to starve them out…heading into winter in Europe it’s a big call and they seem to have stocked up early for Xmas with gas…but it’s a gamble…starve the oil companies of revenue,access to marlets and hope for a mild winter..simples!!
I was entertained yesterday by a new float backdooring a IT biz into a shell…they have now taken me out twice..didnt understand the technology the first time ..still odnt…think Buffet was right ,if you don’t understand something don’t invest in it..havent any idea if they have cracked the firewall security issue..very topical…but at $250m market cap and no revenue yet it’s a big ask for me…suspect it’s that time in the market…I mean look at Alibaba!!!And faceplant ops $200bn market cap..Apple to announce a communicator and transporter…beam me up Scottie..
Looking at the economic numbers coming from Japan yesterday was pretty dismal reading…despite the massive amount of Aso and BOJ money printing the economy is going nowhere again..the only rise in inflation was due to the sales tax and growth has fallen in a hole!!! Gross domestic product contracted an annualized 7.1 percent in the three months through June, more than a preliminary reading of a 6.8 percent decline.Abenomics going well then!!!
Now as we approach the Scottish Independent vote things are hotting up in the UK…or whats left of it…thise Welsh may get some ideas…anyway I remain of the view that the Scots will blink and not go to independence…the thought of a country having the same currency as Britain but not part of it seems to be a recipe for disaster…if you are independent you need to control your own currency and be able to print it when required..having the pound but no control over the money supply is suicide…even Spain and Greece had some say in Brussles!!
US Consumer credit grew by over $26 billion in July – smashing expectations of $17.35bn – and rising by the most since 2011. As usual, the leap was led by non-revolving credit (rising $20.6 billion) as auto and student loans continue to surge.
Chinese eat almost 50 percent more pork than Americans. Now they’re adding more beef and mutton to their diets, driving up prices and spurring record imports…. since 2011 Beef has risen 65 percent and mutton 40 percent compared with a 17 percent drop for pork belly.
Ex divs today….Colorpak, ERM Power, Hunter Hall Int, LogiCamms, OZ Minerals, Oil Search, Perpetual, Pro-Pac Packaging, RCR Tomlinson, SDI Ltd, Village Roadshow.
And finally…I am away overseas for a week..first trip to Bali!!!Looking forward to Jetstar!!Excited…anyway in my absence Chloe is here to take your calls…so a final joke to keep you going!!!
Billy stops Paddy in Dublin and asks for the quickest way to Cork.
Paddy says, “Are you on foot or in the car?”
Billy says, “In the car.”
Paddy says, “That’s the quickest way.”
And a bonus one for fun…
A foursome was on the last hole and when the last golfer drove off the tee he hooked into a cow pasture. He advised his friends to play through and he would meet them at the clubhouse.
They followed the plan and waited for their friend.
After a considerable time he appeared disheveled, bloody, and badly beaten up. They all wanted to know what happened.
He explained that he went over to the cow pasture but could not find his ball. He noticed a cow wringing her tail in obvious pain. He went over and lifted her tail and saw a golf ball solidly embedded. It was a yellow ball so he knew it was not his.
A woman comes out of the bushes apparently searching for her lost golf ball. The helpful male golfer lifted the cow’s tail and asked, “Does this look like yours?”
That was the last thing he could remember.
Have a great day