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Morning sports fans,

 

Another super night on the Dow as FOMO comes to town…there is panic in the streets as no one wants to miss out…just get back in there and buy Mortimer!!But didn’t we sell two weeks ago?..yeah so what’s your point ? S&P heading back to all-time highs around 2020 I suspect…

morte

Good numbers from some USD companies like Caterpillar last night helped again but another big loss from Amazon…they have never made a profit I don’t think..maybe never will…ooops after hours!!

mazon

Anyway it was enough to keep the Dow bubbling along until another Ebola scare hit the market…The most shorted stocks in the US are back up above there October highs and have run the most in three years…panic selling ,now panic buying..our market will test that top end of the range today around 5410 beforet profit taking comes back again…

Bank results next week kicking off…the powerhouse of our market…my bank index closed last night at $179…getting toppy again…especially given the stress tests in Europe…may shine a light on capital requirements again..

As all the doom and gloom disappates,the clear blue sky is looking inviting…AGM season is in full swing and so far we have had the odd shocker but nothing too serious..flesh wounds..and the muppets in Canberra have been relatively quiet too so a lot of commentators and analysts are suggesting a good run in retail as the price of fuel comes down…and of course Xmas is coming…well we shall see..one thing though, the new H&M store in Macquarie Park is going gangbusters…queues to get in the changing rooms and pay at the checkout!!!seems at least one retailer is going well..

Idea of the Day-Good announcement from NTC.

Won’t even mention MOC again! Promise….

Or Medibank!!!

Here’s a blast from the past…some months ago I talked about the internet of things…a world where everything is connected to the network..one of the companies to benefit from this is NTC…now when I talked about them they were 35 c and blasted off to hit 78…back at 57 ish now and an announcement this morning will help them scale the heights again…they have teamed up with Arrow Electronics to distribute their products in North America..yet another blue chip partner signing up for NTC products…a positive move..

Things to make me go mmmmmmm!!!

 

Kim Kardashian has had more husbands than US deaths from Ebola!…is that weird,spell check corrects her name but Obama’s does not …comes up as Osama..sick joke?Maybe?

 

Well, we have had the ‘Penske’ file from Macquarie and now we are going to have the ‘Shame’ file from CBA as they name and shame their financial planners…love those guys…

 

BHP is in London spruiking the benefits of pulling Humpty apart and making it into ‘Good’ BHP and ‘Bad’ BHP…certainly good for advisors …I am sure in a few years they can put it back together again! And chairman Jac Nasser has knocked back calls for higher shareholder goodies by saying.. that without a strong balance sheet, “someone else is determining your destiny”.

Oil rallied last night finally as a unnamed Saudi source said they were cutting production…

In economic data from the US ,weekly jobless claims rose by 17k to 283,000 with forecasts at 282,000 to make the lowest 4 week average at 281,000 since May 2000  and leading indicators in September rose by 0.8% beating estimates at 0.2% and the final manufacturing PMI reading was at 56.2 against estimates at 57.0

The number is 11 apparently…that is the number of Euro Trash banks that will fail their HSC….only 11…..so the money printing will continue to paper over the cracks!!

Return_of_the_Crack

Biotechs are up 11% since Yellen pronounced the bubble in Biotech stocks…US market has now bounced 5% since its October 13 low…as have we!!!

I have finally gone global with my piece for Swiss Financial TV that I did on Wednesday going on the net…great for profile!!! Click here

Qantas lifted passenger numbers in September, aided by a pickup in business for its Jetstar and regional airline services. The number of passengers travelling on its domestic and international services rose 2.7 per cent in the month. The rise came despite a 3.7 per cent drop in the number of passengers flying Qantas Domestic.

Love this cover from the Economist on the state of Zombieland…..

Europe's Economy

Great recovery in Spain!!!!! Spain today showed the unemployment rate fell to 23.7 per cent in the three months through September from 24.5 percent in the previous quarter. The Bank of Spain published its estimate for third-quarter economic growth and put it at 0.5 per cent. That follows a 0.6 per cent expansion in the previous quarter.

The European Union has told Britain to pay an extra EUR2.1 billion due to its relative prosperity…..I suggest they may tell Brussels where to stick it soon!!!

Spot gold falls 0.8% to $US1231.12 an ounce….    Brent oil jumps 2.5% to $US86.84 per barrel…..   Iron ore falls 1.9% to $US80.29 per metric tonne

Drilling contractor Boart Longyear appears to have been saved after almost two years on the brink of collapse, with US ¬investment firm Centerbridge Partners agreeing to provide a rescue package worth up to $US352 million ($401.8m).

Liked this one for a while now…OSH has locked in future dividends for shareholders from the wave of cash coming its way now the $US19 billion ($21.7bn) Papua New Guinea LNG plant is up and running, flagging that up to half its profits would be returned to shareholders.

And finally………………

Vern works hard at the Phone Company but spends

Two nights each week bowling, and plays golf every

Saturday.

His wife thinks he’s pushing himself too hard,

So for his birthday she takes him to a local

Strip club.

The doorman at the club greets them and says,

“Hey, Vern! How ya doin?”

His wife is puzzled and asks if he’s been to

This club before.

“Oh no,” says Vern. “He’s in my bowling league .”

When they are seated, a waitress asks Vern

If he’d like his usual and brings over a Budweiser.

His wife is becoming increasingly uncomfortable

And says, “How did she know that you drink Budweiser?”

“I recognize her, she’s the waitress from the golf club.

I always have a Bud at the end of the 1st nine, honey.”

A stripper then comes over to their table, throws her

Arms around Vern, starts to rub herself all

Over him and says…

“Hi Vern. Want your usual table dance, big boy?”

Vern’s wife, now furious,

Grabs her purse and

Storms out of the club.

Vern follows and spots her getting into a cab.

Before she can slam the door, he jumps in

Beside her.

Vern tries desperately to explain how the stripper

Must have mistaken him for someone else,

But his wife is having none of it

She is screaming at him at the top of her lungs,

Calling him every 4 letter word in the book..

The cabby turns around and says,

‘Geez Vern, you picked up a real bitch this time.’

VERN’S FUNERAL WILL BE HELD

THIS COMING FRIDAY.

And 6 years ago on ‘Bloody Friday’, equity prices dropped over 10% in some markets…a Bank of England official said  “This is a once in a lifetime crisis, and possibly the largest financial crisis of its kind in human history.” By March 6, 2009 the DJIA had dropped 54% to 6,469

Have a good weekend

Clarence

XXXX

Get a Global take on things at www.ntmarkets.com

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

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