Morning sports fans,

 

The march continues although I seem to have got ahead of myself with my unbridled enthusiasm for 6000 yesterday…remember my Easter theory…every Easter I used to take my family to a beautiful house in the Megalong Valley and the market was flying high, making it always a good weekend…as always with these things it always appeared to shudder after we got back from four days of fun…So ,this year?…anyway 6000 is in sight… nearly got there yesterday briefly anyway ,today we may have another breather with a weaker Dow and Zombies…Gold is looking better as the USD came under some pressure..maybe we have seen the dreaded Double Top on our market and we will see more backing and filling…fits my Easter theory!!

“Double top – double trouble

Bullseye – double bubble

Don’t forget the one

Here we go – here we go, we win!”

Idea of the Day

My bank index is now 211!!!Now that seems a bit overs..no doubt it could go higher but I would be looking to sell some calls over bank shares just at the moment..best is behind them…NAB look like they are set for some serious issues in the UK…would be lightening the load in NAB for sure…maybe WBC is a better bet..CBA still the standout for smarts and technology…and the most expensive…

Despite the arrival of Netflix I still like TLS…although their Foxtel business will be under threat and they will have to up their game with package deals, the main game is still mobiles…bigger phones eat more data…more streaming services will consume more data..Telstra still has the best 4G service although I got an email today from Amaysim who I use and they are going 4G soon too…but yield defensive and domestically focussed ..what’s not to like and growing!!

And the dividend is this big!!!

Things to make me go mmmmmm!!!

Good to see Tony using his private Jet to attend Liberal Fundraisers birthdays..

These words of wisdom from the San Fran Fed…

“Leverage is risky. Purchasing assets with borrowed money can amplify small movements in prices into extraordinary gains or crippling losses, even default.”

 

Economic data in the US showed existing home sales rose, but fell short of forecasts.  They improved by 1.2% and better than the prior outcome of -4.9%. Forecasts were at 1.7% following the weather affected outcome last month.

A Chinese market official has announced that the huge run in the Chinese stockmarket is “inevitable and rational!!!”…course it is!!!

Investment bank UBS is selling 108.9 million Spotless Group shares on behalf of private equity firm Pacific Equity Partners. The trade is expected to take place on Tuesday morning, after a competitive pitching process among brokers. Spotless shares closed at $2.20 on Monday.

The Greek debacle continues with a meeting between Moaning Mertle and the indebted ones….looks like she said Nein to PMs Tsipras requests…apparently the answer is to get rid of steroeotypes!!! Mertle says she can’t offer liquidity on her own!!

Another disappointing result from Kathmandu…seems retail is still well and truly on the nose…its about experience not stuff anymore..holidays and restaurants still doing ok…

TPG Telecom has upgraded its guidance for the current financial year after reported a strong increase in profits for the six months to December.

The Sydney-based internet service provider now expects earnings before interest, tax, depreciation and amortisation to come in between $480 million and $483 million, up from previous guidance of between $455 million and $460 million

Ben Cousins? Really…

That AUD/USD is not giving in or lying down..up to nearly 79 cents as the Aussie is on a tear…not helpful and maybe we shall see more jawboning from the RBA…

From my mates at www.zerohedge.com a list of the stuff that the US has misplaced in Yemen…now probably in the hands of the enemy!!!

And finally…thanks as always to Hans….

 

Two beggars were  sitting side by side on a street in The Vatican in  Rome.

One had a Cross in  front of him; the other one was holding a Star of  David. Many people went  by, looked at both beggars, but put money only into the hat of the beggar  sitting behind the Cross.

One day, a procession came past, and it included  The Pope.  He stopped to  watch the throngs of people giving money to the beggar who held the Cross,  while none gave to the beggar holding the Star of  David.

After a few  minutes, the Pope approached the beggar with the Star of David and  said:  “My poor fellow, don’t you understand? This is a Catholic  country. “This city is the  Seat of Catholicism. People aren’t going to  give you money if you sit there  with a Star of David in front of you,  especially when  you’re sitting beside a beggar who is holding a Cross. “In fact, they would probably give more money to him just out of  spite.”

The beggar with the Star of David listened to the Pope, smiled,  and turned to the beggar with the Cross and said:  “Moishe, look who’s  trying to teach the Goldstein brothers about  marketing!”

Have a great Tuesday

Clarence

XXXX