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Morning sports fans,

Breaking news….NAB results solid!! Up 6% at $1.65bn for the quarter…pretty soon we are talking real money…will it be enough to support these prices?

Tabcorp said its half-year net profit after tax rose 64.1 per cent to $122.4 million.Excluding significant items, underlying net profit rose 21.8 per cent to $90.9 million in the six months ended December 31, 2014, which was ahead of the $87.3 million expected.

The board declared a fully-franked interim dividend of 10c a share, and a special dividend of 30c a share.

Ten days straight up, as we have melted up since the ECB unleashed its Tsunami of free money and all it wanted to do was buy Aussie Banks and Telcos!!Since the 19th of January it has been just one way traffic and the FOMO (fear of missing out ) has been strong in this one Luke…too strong…seems that the script has been thrown out the window…in this environment all rational thought gets a bit scarce and we are due a pullback…it will NOT be a big one as everyone who has missed out on the last two weeks because they were still in holiday mode is now realising that they are getting stiffed on their bank deposits and need to put the money to work…money never sleeps…
Yesterday the world breathed in as signs of a Greek compromise seems to be in the air…hold your Feta down boys…news last night that the ECB had stopped taking Greek Bonds and Haloumi were a massive signal that things are far from settled.   big reversal on the Dow lat win the day!!!!!!.there is a long way to go and this is going to be a huge game of chicken…do the Germans blink before the Greeks run out of money or does Greece cave in…interesting times as mattresses all over Greece get stuffed with Euros as a hedge on the impending fallout as the Drachma returns perhaps?

The crowded trade that is the ASX 200 looks set to slide a little today. Oil pricxes slipped …well actually they got poleaxed really…so with iron ore down and buyer fatigue setting in expect to see a modest pullback after the 10 straight days of buy anything that isn’t nailed down..and some things that are!!!

The pullback  will not last long …but the surging US dollar is starting to worry a bunch of US companies..every country around the globe has tried to trash their currency ..but in a good way..and reap the export benefits of that trashing…the US was the daddy of them all..most US companies earn much more outside the US, so its great for them..trouble is as the only economy looking to raise rates the dollar is sucking money back in ,and with it the companies are starting to howl howl howl…just as ours did at $1.10…so beware my friends as the great US profit bonanza starts to look a little threatened…the Dow may well underperform other markets..

Idea of the Day-MOC pops-Yay…

After banging on ‘ad nauseum’ about MOC and its attractive yield punters were rewarded by a good jump yesterday..tipped them at 2.40m ..well up to 2.66 yesterday for a nice 10% rise in two days…don’t say I don’t try!!Still I guess if you have enough monkeys and typewriters even they could get one right every now and then…point taken…so now I know you are going to want the next one…
Childcare people…childcare…is it just me or is it plain stupid to pay up to $170 a day for someone else to look after your kid..I mean two in childcare..thats if you can get them in, is $340 a day post tax dollars..now I know the government is generous with rebates but really..to pay the fees you have to earn $1600 a week post tax dollars..and someone else sees your kid all day.(maybe that’s a good thing!!!).still the winners are the GEM and the AFJ of this world as “Half Term Tony”now shifts from the awful PPL to  better Childcare outcomes for families..in other words a bigger rebate ..it can only be good for these guys and GEM is the biggest one listed…it literally is a licence to print money!!!

Things to make me go mmmmm!!!

The UAE is withdrawing from the coalition of the willing against IS because it cant guarantee the safety of its pilots…tricky thing to do in war…

I remain convinced that despite the fall in the oil price last night and lets face it, it was up 20% in four days, we have seen the bottom…I continue to believe that filling up at $1.00 a litre is the smartest thing to do…I mean its something when oil is cheaper than milk!!! Or water …US stockpiles are the highest ever..they have seen Mad Max too!!And three !Actually no one saw that!

Oversupply in so many things these days…money ..oil..iron ore..coal…corruption…and now shipping as since Thanksgiving, The Baltic Dry has fallen on 43 or the 47 days, down over 60% from the “China growth is back and all-is-well”  At 569, The Baltic Dry is inching ever closer to what will be the lowest level ever, 554 in late March 1986.

Coca Cola has unleashed a Frankenstein Milk onto the unsuspecting world in an effort to  improve on nature..Its called ‘Fair Life’ and its enhanced milk…just milk only better ..creamier…no lactose and its coming to Australia soon…god help us!!!
The LNP debacle is doing nothing to boost business confidence at the moment..in fact it is deeply undignified..the troubles for our small island are mounting and we seem to  have no answers to any of them..apart from attack the ones who can least afford it..the notion of a Utopian Paradise free from the problems of the old world are well and truly buried…Half Term Tony is fast becoming ridiculous and with it the LNP..when a Government becomes laughed at it’s a bit like the Emperor and his clothes…not a good look…hard to gain respect back..I know let’s create a security issue..

Here’s a big tip …I recently downloaded the new streaming service Stan..who thinks of these names…anyway am quite imnpressed…so impressed that I watched the Wolf of Wall Street again on the Mercedes the other morning…little did I know that 30 minutes of Leo cost me 93 bucks..now that would be cheap if he was sitting next to me..but it seems that Stan uses a lot more data than my usual iView content..love that by the way(why don’t they charge for it and ABC funding problem solved).Anyway to conclude I contacted Amaysim which is just that..I explained my issue and my shock…well blow me down if they didn’t refund me 73 bucks of the download fees…really impressed with Amaysim and their customer service..big data limits and good Optus coverage..not sure that would have happened at Telstra!!!So Stan Fans beware of the data downloads!!!Use wifi..even then beware…

Downer keeps full year forecasts intact..

Cut-price broadband provider TPG Telecom is ready to launch a bundle of 10 Foxtel channels in a bid to capture a piece of the increasingly crowded pay-TV and streaming video market.

Great news on Peter Greste…not so great on the Bali Nine due for execution…

Australia’s largest mortgage broker, Australian Finance Group, looks destined to join the bulging IPO pipeline in a $300 million-plus offering….may explain why MOC was a little on the nose as instos positioned themselves…may make MOC look cheap…

Gotta love Arthur Sinodidis…as they say “to really stab someone in the back it is necessary to get behind them!!”
that escaletd

And finally….warning guaranteed to offend..so stop reading now..thanks Marilyn for this one!!

Little Sally came home from school with a smile on her face and told her mother, “Frankie Brown showed me his willy today in the playground!”
Before her mother could raise a concern,
Sally said, “It reminded me of a peanut.”
Relaxing with a hidden smile, Sally’s Mum asked,
“Really small, was it?”
Sally replied, “No… Salty.”
Mum fainted.

Have a great Thursday

Clarence

XXXX

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