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Morning sports fans,

Well ,it was a wild old ride yesterday with 120 trading range…a mid-morning rout by overseas investors bailing out of the banks was quite scary for ten minutes..then sense prevailed and the buyers stepped back in…in the end the market closed down 9 points having been up 20 and down 85!!!Told you volatility was back…of course most of us get scarred by the swings and grab the safety rail with white knuckled fervour but some and these are the smart ones know that volatility equals opportunity…so opportunity is here to stay boys and girls…


Overnight the US tanked but worryingly Europe tanked big time as German Industrial numbers proved a shocker…it would be funny if it wasn’t so sad…Zombieland is doomed…doomed, Mr Mainwaring…

The great hoax that is ‘Super Mario’ is being found out…the great “whatever it takes” line is just a line….”Not sure what it will take” is more like it and the chickens are now starting to come home to roost. Unemployment is horrible..growth is horrible and deflation is now the issue…and wait for winter when the Russian grab the Zombies by the throat with the gas …Now will be the winter of the discontent indeed…anyway finally the IMF has cut the global outlook…really…these guys are brave…maybe they should try getting out into the real world from time to time rather than just conference to conference and Ivory tower to ivory tower…anyway the upshot is we are heading lower…couple that with the Fed now actually putting a time frame on higher rates and you have a gumbo of negativity waiting around the corner…We nearly hit 5200 yesterday..8 points off…so pretty pleased on my calls…will have another go in the next few days…the only thing that saved it is the Claytons bid for RIO…no way Jose…never gonna happen..regulators around the World will stall this for years..I mean it took a year for a GNC takeover..and Glencore now can’t even phone RIO for six months under UK takeover law!!


Still sell the rallies and buy the dips…trend is down ..5200 in our sights again….

Idea of the Day

“If you can keep your wits about you while all others are losing theirs, and blaming you. The world will be yours and everything in it, what’s more, you’ll be a man, my son.” And he did make exceedingly good cakes!!

Things to make me go mmmmm!!!!

FOMC minutes due to be released tomorrow at 5am..early birds take note…

Gold Symposium today and I am MC-ing this afternoons shenanigans…should be fun…

This one is interesting from todays papers…The government has dismissed suggestions that the $4.1 billion-$5.7bn Medibank Private float could be disrupted by a rival ownership claim from policyholders. Medibank members are seeking legal advice on a potential challenge to the float after they were given written advice in the mid-1990s that they were owners of the health fund’s assets…oopps….could go the way of the budget…

Coca Cola in the US are at their all-time highs…really!!!

In the US the Russell 2000 fell to 12-month lows (and is set for the first 6-week losing streak since April 2005).VIX above 17!!

Consumer borrowing in the U.S. increased in August at the slowest pace in nine months as credit-card use declined. The $13.5 billion gain in credit followed a $21.6 billion advance in July that was smaller than previously estimated.

German industrial production dropped 4% in August,  larger fall than the 1.5% reduction predicted by economists. It followed weaker factory orders  data yesterday. DAX is down nearly 10% from its peak…

And still in Zombieland… “QE in Europe will be ineffective, but it will happen anyway – it is the only tool the ECB has to protect its mandate”. Deutsche Bank!

Canadian building permits slumped by the largest percentage amount in over three decades in August with a decline of 27.3% reported.

Must be close to the top…Ripcurl eyeing a float after announcing bumper results..take that Billabong!!! It lifted profits by more than 60 per cent after two years of restructuring.

While Billabong lost $14 million before writedowns in 2014, Rip Curl’s net profit swelled 62 per cent to $22.9 million – a big turnaround from the $4.1 million loss in 2012 that prompted the company to cut costs and close stores.

Looks like the Spanish Government is taking Ebola seriously…gotta love austerity and hospital closures


Here is a great photo that deserves a caption…suggestions?

trio hearing_0

I think  Paulson is waiting for a pigeon to drop something on him!!!Or maybe he is praying for divine intervention…so long as it drops on someone else eh

And finally……

A little old lady was walking down the street dragging two large plastic garbage bags behind her.

One of the bags was ripped and every once in a while a $20 fell out onto the sidewalk.

Noticing  this, a policeman stopped her, and said: “Ma’am, there are $20  bills falling out of that bag.”

“Oh, really?   Darn it!” said the little old lady.   “I’d better go back and see if I can find them.

Thanks for telling me officer.

“Well, now, not so fast,” said the cop.   Where did you get all that money?   You didn’t steal it, did you?”

“Oh, no, no”, said the old lady.   “You see, my back yard is right next to a Golf course.

A lot of Golfers come and pee through a knot hole in my fence, right into my flower garden.

It used to really tick me off.

Kills the flowers, you know.    Then I thought, ‘why not make the best of it?”

So, now, I stand behind the fence by the knot hole, real quiet, with my hedge clippers.   Every time some guy sticks his thing through my fence, I surprise him, grab hold of it and say, O.K., buddy!   Give me $20, or off it comes.”

“Well, that seems only fair,” said the cop, laughing.   “OK.. Good luck!”

“Oh, by the way, what’s in the other bag?”

“Not everybody pays.”

And thought for the day…I reckon one day we are going to wake up and the Dow is down 1000 points…question is when… and what you do when it happens…I will leave that thought with you…

Have a great day and can we please stop all the coverage of the Batchelor…stupid program..hasn’t even helped TEN….seriously…

As Sergeant Phil Esterhaus once said “Hey, let’s be careful out there.”



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