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Morning sports fans,


“I think that a good victory for Democrats on Tuesday, you know, should be rewarded with some fried chicken”. Michelle Obama

michelle obama


Feeling a little dusty this morning after a great Melbourne Cup lunch. Thanks to the team at Petrel Energy

And of course it’s Day 1 of the Reboot with Juice Diet…wish it was a Reboot with a bacon and egg roll and a large cappuccino diet but not sure they exist!!

Anyway after the drama and tragedy of yesterday(that was my betting, mainly) its back to normality…there seems to be a new big game on globally…seems the Saudis aren’t a big fan of the rise of Shale in the US and implications for the oil price and US independence..as a result these guys are now trying to put them out of business through the lower oil price they are offering the Yanks..there are some experts suggesting that oil has much further to fall…if you look at what the big producers are doing to Iron Ore to get rid of the little guys ,you get some idea of what is happening with oil..there will be collateral DAMAGE as the small guys will really struggle as they try to put the young upstarts of shale out of biz…it is of course really good for the global economy and is better than rate cuts…everyone has to buy petrol (even the poor Joe) and money off in the tank is money in your pocket…would be nice if we saw some of those savings at the pump but then you can’t have everything and it will happen just a bit slower here in Australia..will help the global economy though..good for trucking companies,logistic companies ,airlines, grocery companies, consumer companies..you get the idea…anyway it is just as well as once again the forecasts for growth out of Europe are being scaled back…let’s face it Zombieland will be a basket case for another decade..in fact it may never get back to where it once was…the times they are a changing!!The great Euro experiemnet has been a dismal failure and they are all just too stubborn to admit it.


So the oil game is now running in tandem to the ‘who can get their currency down the lowest’, ’who can print the most money’ and ‘who can scare their citizens the most!’

US mid-terms are a focus as Republican party looks set to knock off a few seats…Obama on the nose!

Idea of the Day-Bank Index at 184…WBC 34.50,NAB 34.61,CBA 80.77 and ANZ 33.65 Combined total 183.75-Topping out IMO

After the massive bounce in the markets in the last two weeks of Rocktober, bank bashing is back…the Murray Enquiry and the looming capital requirements for Basel III will start to draw focus and as good as the banks are, where is the growth going to come from..the bad and doubtful debts magic pudding will not last forever …suspect I am not the only commentator that is going to say this but time for a pullback in the big four…lots of reasons but pregnant with dividends will help keep them up but suspect the good times are over for the time being….not a time to panic but any loose stock bought for quick profits should be looked at and maybe sold and calls sold against core holdings…

Things to make me go mmmmmm!!!


The European Commission cut its growth forecasts for the euro area. Gross domestic product in the 18-nation region will rise by 0.8 percent this year and 1.1 percent in 2015, down from projections for 1.2 and 1.7 percent in May,

The Commonwealth Bank’s first quarter earnings swelled by almost 10 per cent to $2.3 billion, buoyed by growing customer numbers and lower impaired loans.

RBA Chief Uncle Fester once again talked about a period of stability..citing growth in China and House prices as issues to watch…again..no change in the rate…unlikely for some time to come.

uncle festerstevens

Spot the difference…think it’s the ears!

In China, Government sources announced that significant funds of $16.3 billion would be allocated to a fund to finance construction of infrastructure linking domestic and international markets with draft plans now being undertaken. Details were pretty sketchy though.

Negative interest rates now in Germany…If you maintain a balance of more than 500,000 euros at Deutsche Skatbank, you now have to pay 0.25% per year… to the bank.

Talking banks… The major banks will pay at least $400 million a year to comply with strict new liquidity rules, after the regulator nailed down a key plank of the Basel III reforms…course they won’t really..they will just pass it on to us…der!

Woolworths have suffered a shellacking after their sales numbers have fallen showing how the customer is starting to look at cheaper alternatives like Aldi..Coles are a head in front in the supermarket wars but expect Woolies to come back strongly on the run in  to Xmas.

The Pimco Total Return Fund suffered an estimated $27.5 billion of withdrawals in its first full month after the Sept. 26 departure of Bill Gross, its worst month ever for redemptions.

And finally….bonus jokes today!!Thanks to Marilyn and Troy…

A blonde pushes her BMW into a gas station. She tells the mechanic it died. After he works on it for a few minutes, it is idling smoothly.

She says, ‘What’s the story?’

He replies, ‘Just crap in the carburettor’

She asks, ‘How often do I have to do that?’

A highway patrolman pulled alongside a speeding car on the freeway. Glancing at the car, he was astounded to see that the blonde behind the wheel was knitting!

Realizing that she was oblivious to his flashing lights and siren, the trooper cranked down his window, turned on his bullhorn and yelled, ‘PULL OVER!’

‘NO!’ the blonde yelled back, ‘IT’S A SCARF!’


And thanks to Troy for this gem….

Wife texts husband on a cold winter’s morning;

“Windows frozen – won’t open.”

Husband texts back;

“Gently pour some lukewarm water over it.”

Wife texts back 5 minutes later;

“Computer really stuffed now.”

Day One of the Reboot diet…

Fit,fat and over fifty!

Have a great Wednesday