Morning,
Dow down 138 as fear stalks the market as usual!
Last night we saw the Greek finance minister take one look at the books and resign..ill health apparently..well, it would be enough to make you sick! Spain also went cap in hand to the money lenders and asked for more and to cap it all off in Zombieland Cyprus also asked to be bailed out...too much exposure to Greece...If I buy feta I reckon I have too much exposure to Greece! The Zombie Summit in three days could be the final act in this tragedy..the new Greek PM is not even going as he has choosen to poke his own eye out instead..must have been less painful!!...’Moaning Mertle’s’ refusal to consider Euro Bonds and her East German approach to bailing out the profligate Southern states is going to end in tears..not just for those wayward children but also we are now starting to see the effect on German industry coming through..downgrades are starting to happen.
Against this backdrop its very easy to feel negative..and you should be ...volumes are pathetic and interest is minimal from real investors..today’s bargains could be tomorrows tax loss!
In our market there are a few interesting things..Twiggy has bid to buy more of his own shares...the Rinehart Cowboy has said she will walk away from FXJ if she doesn’t get a few Board seats..maybe she has looked at the books like the Greek Finance Minister! Yesterday Billagone was wiped out as Gordon Merchant said today that maybe he had been a little hasty knocking back a $3.30 bid for his wetsuit especially now they are 96 cents..doh!!In fact he is starting to look like the guy who turned down the Beatles! Albeit from his beach house in South Africa..which is just as well as if he was here he may be lynched! or at least Dakked! I have enclosed the research from Morning star on this one...I reckon that for those with a large, and I do mean large appetite for risk, look at this one below 90 cents...but not for the feint hearted..I know my son who is prime Billagone demographic hates the brand..daggy and his father likes it!!He’s a teenager!!
Things to make me go all Gordon Merchant!
1.Twiggy bids for 60 m FMG shares all or none at $4.90...at least he still believes in China and Iron Ore...
2. Some 5.4 million Americans have been without work for at least six months, and an estimated 750,000 of them are completely broke or heading inexorably toward destitution. Read more: http://www.rollingstone.com/culture/news/the-sharp-sudden-decline-of-americas-middle-class-20120622#ixzz1yqlArN00 This article is truly frightening and so scary that a country as rich as the US can fall so far!
3.Here is one reason why if it does all go to custard, Gold may be the place to be!!China looks to make their currency the reserve and Gold the hot safe haven.
4.28 Spanish banks downgraded...can’t believe they still have 28 Banks to downgrade!!Cyprus gets bailed out as well!
5.SPI falls 34 points overnight..ASX 200 will next target 3850...another 150 points to go then!
6.The Rinehart Cowboy ups her stake in Channel Ten..this woman is not taking any chances ..FXJ and TEN...she doesn’t want those stories leaking out in the media...that’s for sure..
7.VIX spikes up to 20.38 up 12%..expect to see Gold have a good day very shortly!!Please!!!
8.Wimbledon gets under way so at least there are some distractions at night from watching Zombieland melt down!
9.Aussie dollar under pressure again as risk assets are off the table....Greek markets dropped nearly 7% and France down 2.24%..’Mertle’ should be taking notice as German DAX lost 2.1% as well!!
10.Gordon Merchant was once worth 430m bucks now 40!!And I thought I was having a bad run!!
Expect to see our market off 50 today...I got yesterday so right I am surprised anyone reads this newsletter...actually I am not sure if anyone does!!
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
Galbraiths Law!
Have a good day!
Dow down 138 as fear stalks the market as usual!
Last night we saw the Greek finance minister take one look at the books and resign..ill health apparently..well, it would be enough to make you sick! Spain also went cap in hand to the money lenders and asked for more and to cap it all off in Zombieland Cyprus also asked to be bailed out...too much exposure to Greece...If I buy feta I reckon I have too much exposure to Greece! The Zombie Summit in three days could be the final act in this tragedy..the new Greek PM is not even going as he has choosen to poke his own eye out instead..must have been less painful!!...’Moaning Mertle’s’ refusal to consider Euro Bonds and her East German approach to bailing out the profligate Southern states is going to end in tears..not just for those wayward children but also we are now starting to see the effect on German industry coming through..downgrades are starting to happen.
Against this backdrop its very easy to feel negative..and you should be ...volumes are pathetic and interest is minimal from real investors..today’s bargains could be tomorrows tax loss!
In our market there are a few interesting things..Twiggy has bid to buy more of his own shares...the Rinehart Cowboy has said she will walk away from FXJ if she doesn’t get a few Board seats..maybe she has looked at the books like the Greek Finance Minister! Yesterday Billagone was wiped out as Gordon Merchant said today that maybe he had been a little hasty knocking back a $3.30 bid for his wetsuit especially now they are 96 cents..doh!!In fact he is starting to look like the guy who turned down the Beatles! Albeit from his beach house in South Africa..which is just as well as if he was here he may be lynched! or at least Dakked! I have enclosed the research from Morning star on this one...I reckon that for those with a large, and I do mean large appetite for risk, look at this one below 90 cents...but not for the feint hearted..I know my son who is prime Billagone demographic hates the brand..daggy and his father likes it!!He’s a teenager!!
Things to make me go all Gordon Merchant!
1.Twiggy bids for 60 m FMG shares all or none at $4.90...at least he still believes in China and Iron Ore...
2. Some 5.4 million Americans have been without work for at least six months, and an estimated 750,000 of them are completely broke or heading inexorably toward destitution. Read more: http://www.rollingstone.com/culture/news/the-sharp-sudden-decline-of-americas-middle-class-20120622#ixzz1yqlArN00 This article is truly frightening and so scary that a country as rich as the US can fall so far!
3.Here is one reason why if it does all go to custard, Gold may be the place to be!!China looks to make their currency the reserve and Gold the hot safe haven.
4.28 Spanish banks downgraded...can’t believe they still have 28 Banks to downgrade!!Cyprus gets bailed out as well!
5.SPI falls 34 points overnight..ASX 200 will next target 3850...another 150 points to go then!
6.The Rinehart Cowboy ups her stake in Channel Ten..this woman is not taking any chances ..FXJ and TEN...she doesn’t want those stories leaking out in the media...that’s for sure..
7.VIX spikes up to 20.38 up 12%..expect to see Gold have a good day very shortly!!Please!!!
8.Wimbledon gets under way so at least there are some distractions at night from watching Zombieland melt down!
9.Aussie dollar under pressure again as risk assets are off the table....Greek markets dropped nearly 7% and France down 2.24%..’Mertle’ should be taking notice as German DAX lost 2.1% as well!!
10.Gordon Merchant was once worth 430m bucks now 40!!And I thought I was having a bad run!!
Expect to see our market off 50 today...I got yesterday so right I am surprised anyone reads this newsletter...actually I am not sure if anyone does!!
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
Galbraiths Law!
Have a good day!
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