Follow Your Own Judgement Into Profitable Trading

Jan 27, 3.10 pm

The market spiked above 40 points briefly in the early afternoon, presumably after China flash consumer sentiment numbers came out better than expected, before settling back to trade up 25/29 where it traded most of the morning.

Banks rose, miners were strong and there was green paint across the board after gold roared up $46 on the 26th (our time) and added another $9 last night while metals and crude rose.

Markets were mixed after US Fed chief Dr Ben Bernanke signalled 0.0.25% interest rates out to 2014, vs 2013 expected earlier, there are signs that Greece will come to an agreement with its private lenders that will prevent a disorderly default, and consumer sentiment in Germany proved surprisingly strong.

Europe and the UK rose strongly last night, while the US markets were slightly weaker.

In news today, Resmed has reported record sales and income for the December quarter with a positive outlook. The shares are up 21.5c to $2.75.5. 

"The Australian" reported Woodside intends offloading its 46% Browse basin stake, Woodside said it has not made any decision at this time and a leading broker said it had always expected WPL to sell down from 46% to 30% and the numbers were already in its forecasts.  WPL is up 75c to $34.72.

 Clough is up just 1c to 72c after announcing its CLO/Curtain j/v has been awarded ta $145 million contract for the PNG LNG development.

 Alacer fell a further 39c to $8.93 after its quarterly report forecast lower than expected production for 2012.

Regards,.

jAN 26 1980

Australia Day Spent in Canberra - a migrant's song

On a shady bench in a quiet park lay I
Drowsy with sun and raven's dusty croak
While round me wheeled the arc of Canberra's sky.
The swooping circle of that empty space
Embraced the bent bow of the far off lake
And pines that marched up sun-and-shade checked hills
And fountains misting in the city square
And arcades chill with marble and dark glass
And modern gems of architectural art
And sound bold buildings dreaming of their past -
While down the meshing ribbons of the roads
Bright cars like beads roll quickly up and down
And touring Aussies tromping through the heat
Gazed on their Capital with love and pride.

Their Capital, but what is it to me?
For am I not an Ishmael, wandering -
My blood so mixed, a stranger in all lands,
Until you let me - as an equal - stay.
How strange it seems!
In my old land three thousand years of myth
Have hardened into moulds that bind all life.
There just being born a female is to lose.
Then caste and class and poverty ensnare
Until like bird caught in a well-limed tree
The submerged millions flutter hopelessly
Till death affords the one equality.

Australia, Australia, young country of the free
Perhaps it is your open-hearted ways
Will never quite be understood by me.
I am too scarred! I skulk suspiciously
For ever out of reach of outstretched hand
Hovering inflight, clothed in subservient smile -
Ah yes! It's not for those like me
To ever be the genu-ine Australian!
But my sons will grow here tall and strong
Their equal gaze will fear no caste nor class
Accepting as their basic rights - so casually!
The bounty of the true Australian wealth -
Learning, freedom, health for everyone.

The nagging low of poor subsistence food
The bribing of one's way for every thing
Contempt that is the basic fact of life
Homeless countrymen sleeping on the roads,
They'll hear these things as ogre tales.
Blinded by their bright Australian day
To the memories that haunt a migrant's eyes.

Australia, Australia, a home at last for me
With "Welcome Groups" and "Counsellors"
And the tolerance of the strong -
Stay lucky, Australia, stay young, stay free.
On this handful of soil by this paper gum tree
Here is a kiss from me!


Written on visiting Canberra to say "thank you" when my son and I came in  as migrants, October 1980. Printed in "The Canberra Times" and later the frontispiece of a book about migrants called "There Goes The Neighborhood".

Then as now, thank you Australia.