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Morning sports fans,
A strong start to the week led by resources as they play catch up…Iron Ore stocks drove hard as did energy stocks..Gold disappointed but last night that was rectified with a $20 odd bounce. Bad US numbers not helping things as signs are the Fed may hold off a little due to the diminishing numbers….Apple reported after hours and included a $70bn buyback…
Momentum in the index is starting to build as we have another go at 6000…overseas markets are leaping …fish are jumping and the cotton is high…hard to resist this…Two day meeting of the Fed will be crucial but it seems that China isn’t listening anyway as it marches ever higher…QE to come from Xi?
So looks like my bearishness is maybe a little misplaced…after all what could go wrong..everyone is getting set for another leg up in the bull market…Triple Top threat looks to be receding…today will be crucial…Iron ore and Gold will help…banks to remain underperformers as David Murray (yes, the dork that sold all the nations TLS at under $3.00) suggests that we may lose our AAA rating and with it so will the banks making it tougher for them…he is a superstar after all ex CBA head and Future Fund Chief…
Idea of the Day-STO hit 835…talked about it last Friday for a move to here. More to come…
The next leg is resource stocks and the mid-caps may be the place to go hunting…leaner and meaner makes the survivors attractive…plus lower dollar makes them bite size for overseas takeovers..bit like PNA …
Some of the quality that have already had moves include…OZL,SIR,SFR,IGO….but suspect there is more upside in WSA ,MCR and ARI….
Here is the chart of Iron Ore-Shorts are in trouble…Joe Called it beautifully…
“Lazarus, come out!”
Things to make me go mmmmmm!!!
Things are hotting up in the Telco space with a bidding war now breaking out for that annoying Irish man on the back of buses!!
Enter MTU with a new bid trumping TPM….it’s on boys…one with the biggest one wins!!
BHP Billiton, has revealed it is in a tax dispute worth over half a billion dollars relating to its Singapore marketing operations.
Ex Digital super star Ted Pretty isn’t sitting so as Hill Industries looks to be imploding..remember he was little underwhelming at TLS too…170 to 65 cents in a year…good stuff…
Equity markets going gangbusters…China leading the way as gains now 39% for the year…also this is weird but China has overtaken France as the third biggest wine grower!!! The International Organisation of Vine and Wine (IOVW) said China now had 799,000 hectares (1.97 million acres) of land devoted to wine growing…but the French still the biggest producer…
The Shanghai comp gained a solid 133 points to 4527, the CSI 300 added 104 points to 4807 and the Shenzhen comp improved by 14 points to 2271.Still it looks like China Inc is sorting out its debt problem by issuing tons of new equity as the market seems to have an insatiable appetite at the moment…so far this year $161bn worth has been raised!!!!!
Apple’s revenue in greater China grew 71 per cent, to $US16.8 billion, compared with the same period last year!! Overall they sold 61.2 million iPhones over the quarter, beating analysts’ estimates of roughly 60 million phones.
Biotechs got slammed in the US last night.
Look like the Greek Finance Minister has had his wrist slapped over his negotiating tactic with the money boys…he has resorted to calling them names..not usre that is sensible given they hold the purse…still cant get my head around a system that needs him to pay the interest (which he can’t) in order to qualify for more money and more interest to pay…lets face it Greece has been a mess for so long and papering over this is delusional…seems a new term has evolved to sum up the situation…we have had ‘Grexit’ and now we have ‘Grimbo’!!~!
Seems they are so desperate to get any money they are asking municipal councils top send their money to Athens…not over their dead bodies I suspect…
Here is a handy chart of the likely Greek Tragedy..
Sydney Harbour Police report finding a man’s body near Nielsen Park. The dead man’s name will not be released until his family has been notified..
The victim apparently drowned due to excessive beer consumption.
He was wearing black fishnet stockings, a red garter belt, a pink G-string, a strap-on dildo, purple lipstick, and a ‘Rudd for PM in 2013′ T-shirt.
He also had a cucumber inserted in his rectum.
The police removed the RuddT-shirt to spare his family any unnecessary embarrassment.
In spite of what we sometimes think, the Police do care.
Have a great Tuesday