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Morning sports fans,

A truly soggy quarter as we gave back all the gains for the year! No good news overnight with the truly scary Ebola claiming its first victim on US soil!!!Forget IS ,if we cannot contain this outbreak then we are in real trouble…I declare a war on Ebola..

Anyway today we will be back to the selling again with the SPI down 29 odd overnight…may not be that bad but there really is no huge reason to be piling in at the moment..I think October will prove to be a rocky month too and although the banks are looking better value they may have a little bit more downside to come..I remain convinced we will see 5200 and maybe shoot under it…the strength in the US dollar is the key at the moment, money is sloshing back from its overseas adventures to tell its war stories about frolicks and fun in the sun…in times of uncertainty everyone likes to keep their friends close and their wallets closer still…

On TV yesterday I blathered on about the banks..seems that is the topic that everyone wants to talk about…when are they cheap?..how low can they go?..is the property market about to implode?..new regulations and capital requirements…well I am, and remain a fan of Aussie banks…suggested the upside was limited a few weeks ago and to sell calls…was some protection at least..but they are starting to get into buying territory…did give some target prices a day or so ago…this makes a 6% yield..pretty hard to go past a 6% fully franked yield I reckon..so at the risk of repeating myself..these are my safe buying prices..targets but may not quite get there…we shall see…

money

CBA-$66.50 Current price 75.29

ANZ-$29.00 Current Price 30.92

NAB-$32.50 Current price 32.54

WBC-$29.50 Current price 32.14

Idea of the Day-TLS is ringing!

Think TLS falls into the time to have a look at the stock …nicely insulated from global woes..steady boring even business…iPhone 6 the most wanted item …customer service really changed..softly softly approach to acquisitions..David Thodey..nice yield..addicted to data and clever little things like changing public phones into wifi hubs..not to mention the NBN money and the government largesse..what is not to like…

tls

Things to make me go mmmmmm!!!

 

Captain Kirk is thinking about making a return to Star Trek!!!William the Shat…also know as Captain James T Kirk of the USS Enterprise is considering a role in the franchise….noooooo….before you know it he will be making records again!!!

jt kirk

News today that Aretha Franklin uses Auto Tune!!!Nooooooo…..still she is 72!!!

 

If the world is such a great place at the moment and coming out of the GFC, how come commodity prices are crashing around the world…oil, copper, soybeans etc… The Bloomberg Commodity Index sank 1.4 percent today, the most since June 2013. The gauge has plunged 12 percent this quarter, its worst three months since the final quarter of 2008….oil at two year lows…amazing given the instability in the Middle East, IS and the Ukrainian situation!

 

Nimble Money, the short term emergency loan shark, is seeking to raise $5 million via a private placement managed by Baillieu Holst.. The shares will be offered at between $1.75 and $2 per share apparently. Enterprise value post the offer is pegged at $131.7 million to $149.4 million. Looking to IPO soon…aren’t they all!!

US consumer confidence comes in way beneath expectations….October will see the end of an era..no more QEIII…its over…

French producer price inflation slid 1.4% in the 12-months to August, the eighth-consecutive month that negative growth has been reported.. Italian unemployment dropped to 12.3% in August from 12.6% in July, the equal-lowest level seen since July 2013….boom times baby!!!

Eurostat said on Tuesday that consumer prices in the 18 countries sharing the euro rose 0.3 percent year-on-year, less than the 0.4 percent increases seen in August and July. ”Whatever it takes” clearly isn’t working….GDP falling throughout the zone…

eurozone output

According to one CNBC commentator “the ‘spread’ between central-bank-inspired “stability” and real-world fiscal-policy-inspired “growth” has never been wider.” While the central banks around the world are doing all the work to revive economies what incentive is there for the elected governments…not much really…but what happens when the central banks are gone?

Australia’s biggest cattle business, the Australian Agricultural Co, has failed to meet its September deadline for the start of full commercial operations at its new $91 million beef processing plant near Darwin. Environmental approvals are holding up the opening of the state-of-the-art abattoir, although AACo has been slowly commissioning its processing line with some trial cattle kills.

 

The People’s Bank of China (PBoC) relaxed rules on the purchase of second and third homes across the country.This is a mild positive but Hong Kong is the focus…Chinese holiday season to celebrate 65 years since the PRC came into being…

In the US, a former Fed Regulator Carmen Segarra is making headlines…in 2011 she was looking at Goldman Sucks Conflicts of Interest Policy…mainly cos they didn’t have one…she taped a lot of meetings..interesting to see how the regulators cowtowed to the wall Street giants..no wonder we got in a mess!!

 

And finally…….a blonde joke…do they really have more fun?

A blonde, wanting to earn some extra money decided to hire herself out as a handywoman and started canvassing the neighborhoods.

She went to the front door of the first house and asked the owner if he had any odd jobs for her to do.

“Well, I guess I could use somebody to paint my porch,” he said. “How much will you charge me?”

The blonde quickly responded, “How about $50?”

The man agreed and told her that the paint and everything she would need was in the garage.

The man’s wife, hearing the conversation, said to her husband, “Does she realize that our porch goes all the way around the house?”

He responded, “That’s a bit cynical, isn’t it?”

The wife replied, “You’re right. I guess I’m starting to believe all those dumb blonde jokes .”

A short time later, the blonde handywoman came to the door to collect her money. “You finished already?” the husband asked.

“Yes,” the blonde replied, “and I had paint leftover, so I gave it two coats – no extra charge.”

Impressed, the man reached into his pocket for the $50 and handed it to her.

“And by the way,” the blonde added … “it’s not a Porch — it’s an Audi.

And thought for the day…(new segment perhaps?)

thought for teh day

Have a great Wednesday

Clarence

XXXX

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

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