Morning sports fans,
Day three ..just saying…
So overnight we have a new name for one of the major characters in the show…Dr ‘Do Nothing’ Draghi…last night in Europe nothing happened again as the ECB kept rates on hold and saw no reason to stimulate their economy through money printing(well they did say they are getting ready to do it one day so that was something!!!!)..maybe they have just worked out that there is no point in trying to stimulate a corpse…it is no more..it’s not pining for the fjords…anyway he suggested that he was ready to move “if needed”…you know what ,its needed!!!He tried the ‘whatever it takes’ and that sent markets soaring and the economy into a hole and there it stayed…unemployment is stilla round 12% across the region so if something isn’t needed I am not sure what planet the little snouters are on!!
So once again we have records falling in the US as good economic figures dominate and the markets bask in Obama’s failure. Never has one man disappointed so many…well maybe Lance Armstrong…anyway the big overseas news was OPEC lowering its production targets once again..this time forever it seems as the US Shale revolution looks set to really put the cat amongst the pidgeons…seems though that the Saudis are following the same game plan as the Chinese(and BHP and RIO) in getting the price down of a key commodity to rub out the opposition.Not sure how low it has to go before the skittish fund for the thousands of frac wells that need to be drilled are threatened..we shall see but I would not be surprised to see oil have a 6 in front of it…
The markets yesterday had a topsy turvy kind of day as early strength gave away to bank weakness…they go ex div today at least NAB and ANZ so its hard to see our market really pushing ahead in great spades when the banks lose dollars of divs..plus every man and his fake dog are applying for Medibank Public..think the SPI Traders have rocks in their heads…
Iron Ore down again..FMG getting absolutely whacked!!! As are ARI…underwriters are looking pretty sick !!
SPI was up 26 overnight…don’t trust that one bit..
Idea of the Day
Fair to say my recommendation of LYC is looking pretty rubbish at the moment as the stock lurches towards irrelevance..trouble is once it becomes a day traders paradise anything could happen..and probably will…If it hits 6 cents I will reassess…in the meantime corporate action heating up in TEN,SUL and VOC…will be a busy Christmas for some…suspect we will get one high profile full on bid before then..maybe TEN maybe MYR..who knows but TEN is definitely in play and MYR maybe after lots of Spring Carnival largesse who could resist!!Same goes for TEN I guess..
Things to make me go mmmmmm!!!
2 is the number and the number is 2!…well it’s the number of steel bolts, the size of a human arm, that fell from British Land’s Cheesegrater building in London yesterday…would have scared a few passers by..the building has been cordoned off now!!
I mean if its not one probe its another as the Bank of America cuts its profit by $400m again to account for currency rigging probes and its legal bills…this is complete madness…The BofA has spent some $29.4 billion in just the past three years, to keep its 229,500 employees, but most the executives, out of prison: an insane amount of $128,104.57 per person.
What he hell is going on with AC/DC…that drummer is on a Highway to Hell if you ask me!!
We eagerly await the RBA minutes..why? Cos we do..Analysts will pour over every letter and try to figure out …..nah..rates going nowhere fast..
In the US ,first-time jobless claims dropped 10,000 to a three-week low of 278,000 in the week ended November 1, the Labor Department reported. The median forecast of 50 economists surveyed by Bloomberg called for 285,000.
Remember Dominique Strauss-Khan..well his hedge fund has gone bust just days after his partner committed suicide in Tel Aviv…bit of fraud apparently too!
This is strange too…the EU auditors have refused to sign off onGBP100bn of Euro spending..£109 billion out of a total of £117 billion spent by the EU in 2013 was “affected by material error”.It means that the Brussels accounts have not been given the all clear for 19 years running.And we wonder why Zombieland is a disaster zone!
PropertyGuru has postponed its run at the ASX until next year, falling victim to choppy equity markets that have put the brakes on a raft of technology floats.Yeah right..or just couldn’t find enough suckers out there!
The Russian Rouble or is it Rubble has fallen 25% against the US dollar this year…Aussie at 85.60 and heading lower as the world finally works out we are not the Messiah of the economic landscape ..just a very naughty boy!
And finally…I am starting Day three and its safe to say I have chewed my iPhone quite a bit…but they say the first three days is the worst……then the next three days and so on!!Just taking it one juice at a time!!
And I know you want this…
I took my wife to a restaurant.(I wish)
The waiter, for some reason, took my order first.
“I’ll have the rump steak, rare, please.”
He said, “Aren’t you worried about the mad cow?”
“Nah, she can order for herself.”
And that’s when the fight started…..
And ‘cos its Friday..
A Russian, an American, and a Blonde were talking one day.
The Russian said, ‘We were the first in space!’
The American said, ‘We were the first on the moon!’
The Blonde said, ‘So what? We’re going to be the first on the sun!’ The Russian and the American looked at each other and shook their heads.
‘You can’t land on the sun, you idiot! You’ll burn up!’ said the Russian.
To which the Blonde replied, ‘We’re not stupid, you know. We’re going at night!’
Have a great weekend….looking forward to a big juicing weekend..