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Morning sports fans,

Apologies for the late email this morning but dropped my son off at Sydney airport..now there is a good business..and you can see the market they are aiming for now..Chinese..first sign out of the airport is for premium Chinese Liquor..Bank of Communications and many others…that’s where the future lies in tourism …and property sales…

Market has opened up 45 points with everything firing…no strong leads so must be shorts covering and the drop in the Aussie dollar..

Yesterday was a little underwhelming with Medibank taking front and centre…after a  good start the stock succumbed to selling pressure and closed beneath the Insto issue price…now I know the market believes that thisis a growth stock…but it is the biggest …it is an incumbent and keeps talking about the ageing population…not sure that is a positive..would rather have lots of young people putting money in and not claiming than massive claims for the oldies..anyway this is a cost out story..just don’t tell the 3000 staff that too loudly because I suspect that at the end of the year the numbers will be 2700 quietly! Still they may have $5000 worth of shares so that will ease the pain..

So big rally today after yesterday’s fall…maybe the shorts are buying back the market and selling their Medi…even Iron Ore stocks are up despite iron ore hitting the sixties!!!Did mention this might happen..good thing was the Aussie dollar which was smacked after RBA Deputy Dawg Lowe suggested that maybe rates could fall!!!Wow the RBA is finally waking up again…amazes me that in the US they have 3.9%GDP growth now lower unemployment than us, massively better consumer confidence and interest rates are pretty close to zero..whereas here…well fair to say that our economy is stuffed except in Sydney where housing and Barangaroo are in full flight… so will the RBA cut rates…they probably should…but suspect they will continue jaw boning…But the US will raise for sure..I reckon March/April time we will get a tickle up in US rates…nothing too much but a signal that the free money times are over and that things are no longer on a crisis setting…suspect the market will take this badly..

Idea of the Day

As the volume in the Medibank dries up that may prove the signal to top up your holdings…I reckon we may see the stock trade below the retail price at some stage in the next month as every broker tries to find the green shoe!!Not much real research out there as every broker is tied to the float..maybe time for some of the smaller players not involved to make a name for themselves…nah …probably no one is listening anyway..hype trumps substance every time….

The rise of the US dollar will continue as currency wars reverberate around the world…this will be the story of 2015..higher US rates and higher US dollar..expect the Aussie to trade with a 7 in front of it on the back of this..should help the exporters and the US dollar earners like RMD,CPU,MQG,QBE,BXB etc….

Things to make me go mmmmm!!!

Iron ore has fallen under $US70 per tonne for the first time in more than five years as a global supply glut and fears of slowing demand in China’s property sector weigh on sentiment.

The price of iron ore, measured for immediate delivery at the Qingdao port in China, slipped 1.2 per cent to $US69.58 per tonne, the lowest level since June 2009, according to Metal Bulletin. Iron ore has slumped 11.5 per cent in November and is down more than 49 per cent in the calendar year.

OPEC meeting this meet…cuts to production????

Coca-Cola is going to launch its own milk, which the drinks giant claims will have double the protein and less sugar than the traditional stuff.It will be called Fairlife and cost twice as much as other milk does. Coca-Cola is predicting it will “rain money”.

Fairlife-milk-ad2-300

Ferguson is in full swing! News  that the cop that shot the black teenager will not be prosecuted was greeted with a ‘burn ‘em out’ call and burn they did…2200 National Guards members are on station for night #2…what is scary that in the time that it has taken for this verdict to be handed down there have been 244 teenagers shot in Chicago!! 155 homicides (74% black males), 725 shot & wounded, and 244 teenagers (13-19) shot and wounded.

swat team

US still mulling around at record highs!

This is crazy …but in the US drug costs are soaring…now it just used to be really specialised drugs that were expensive but now even mass market drugs are costing a fortune a month…in fact health plans are going to be swamped as costs double to half a trillion dollars as soon as 2020.Just one example is a drug called Sovaldi that treats Hep C.. costs $84,000 for a 12-week regimen.No wonder the drug companies are rich and the employers want a health plan!!!

Billionaire Gerry Harvey stood up to shareholders in his Harvey Norman retail empire and vowed that a “first strike” against the company at its annual meeting yesterday, which if repeated next year could trigger a boardroom spill, would not change the way he ran the group. “Nothing will change,” he said at the shareholders’ meeting…good to see he is listening to his shareholders!

Software developer WiseTech Global is preparing to appoint at least two investment banks for a $1 billion initial public offering in 2015, in a move that would make it one of the largest technology players on the ASX boards

And finally…..

 

 

A Catholic Priest, a Baptist Preacher and a Rabbi all served as Chaplains to the students of Vancouver University. They would get together two or three times a week for coffee and to talk shop.

One day, someone made the comment that preaching to people isn’t really all that hard, a real challenge would be to preach to a bear.

One thing led to another, and they decided to do an experiment. They would all go out into the woods, find a bear, preach to it, and attempt to convert it to their religion.

Seven days later, they all came together to discuss their experiences.

Father Flannery, who had his arm in a sling, was on crutches, and had various bandages on his body and limbs, went first.

‘Well,’ he said, ‘I went into the woods to find me a bear. And when I found him, I began to read to him from the Catechism.

Well, that bear wanted nothing to do with me and began to slap me around. So I quickly grabbed my holy water, sprinkled him and, Holy Mary Mother of God, he became as gentle as a lamb. The Bishop is coming out next week to give him first communion and confirmation.’

Reverend Billy Bob the Baptist, spoke next. He was in a wheelchair, had one arm and both legs in casts, and had an IV drip.

In his best fire-and-brimstone oratory, he exclaimed, ‘WELL, brothers, you KNOW that we Baptists don’t sprinkle! I went out and I FOUND me a bear. And then I began to read to my bear from God’s HOLY WORD! But that bear wanted nothing to do with me.

So I took HOLD of him and we began to wrestle. We wrestled down one hill, UP another and DOWN another until we came to a creek. So I quickly DUNKED him and BAPTIZED his hairy soul. And just like you said, he became as gentle as a lamb. We spent the rest of the day praising Jesus. Hallelujah!

The Priest and the Reverend both looked down at the Rabbi, who was lying in a hospital bed. He was in a body cast and traction with IVs and monitors running in and out of him. He was in really bad shape.

The Rabbi looked up and said: “Looking back on it, circumcision may not have been the best way to start.”

Have a great day

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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