Forgot how day 2 after renewed exercise is worse than day 1. Walking is a struggle. Yes, we know that stretching and all that stuff should be done properly but it doesn't seem to have worked. No amount of Himalayan Pink Salt, green tea, ayurvedic donkey dung or whatever else is today's fashionable gym-hippy food can cure a good old fashioned case of over doing it.
Markets, well really not much to say. Core view persists, market is still fighting any up move and yesterdays EFSF 2+ trillion Grauniad story appeared to come as an excuse after a days up grind rather than a cause. So today's "it doesn't exist" should matter as little. TMM are beginning to wonder if the market fascination with how the motor of the new EU vehicle works is getting a little over obsessive. When we buy a car, we rarely measure the diameter of the injector jets, check the burn dynamics in the combustion chamber or query the back pressure of the exhaust system. We just want to know it will work and get is from A to B. If we did want such details we would rather trust the manufacturer rather than a journo's views. So TMM having previously laid out what they think "should" happen, are stepping back from the Guessfest of what will happen and think they will wait for the "something"... or not.
The sharp turnaround in mood yesterday and a continuation of the selective comment bias is still to the bad news side which suits us fine having reloaded at our favourite time of the day (don't ask, we won't tell). We know we are taking a bit of a risk being long into resistance and against some pretty interesting soothsayer signals... But hell, so what?
With little else to debate TMM have been perusing the papers for lighter topics. One thing we noticed was that Stone Roses are reforming. TMM have noticed over the past couple of years a massive revival of rock tours by some old classic names. Now we know that royalty income has been hit by everything online but we are wondering if the return of past greats (and Duran Duran) to touring is now more due to their investment portfolios returning no income and hence forcing them back onto the road. Poor old UB40 appear to be too late, having just declared bankruptcy, leaving them filling in UB40s for real. Perhaps they could relaunch as P45?
Nice to see the UK and Singapore property markets are about to get a fillip. "Horst Reichenbach, who heads the EU task-force on Greece, told the Financial Times Deutschland that Athens is pursuing an agreement with Switzerland that would significantly increase Greece's ability to pursue tax evaders who have deposited money in Swiss bank accounts. Greek citizens have deposited an estimated €200 billion in Swiss accounts". Which is nice! However magnanimous we believe the average Greek citizen to be, we can't see all that money returning directly home.
Oh what's this...? "Android releases Ice Cream Sandwich". Has a robot been holding a frozen food based snack prisoner? Is it going to exchange it for 1000 cream puffs? Oh no... it's just the most stupid name for a new phone operating system. TMM remember in the 90s when traditionally named companies (usually in insurance or accounting) changed their names to some global-nonsense word. But this trend for food based tech is getting silly.
Oh look more on food: Dale Farm. Now what is that Northern Irish dairy up to now? They in a hostile takeover bid? Ah yes... but by Basildon council. That's odd. Ahhhhh... Not THAT Dale Farm. This one is a sanctuary for people who don't have to follow the same laws as everyone else based on a tradition that they haven't followed the same laws as everyone for hundreds of years. Oh dear.
Next page. Greece is on strike. Wow at this rate there is a good chance that Greece could end up like Naples. Have to say that European sympathy is not that forthcoming whilst those average wages and pension comparison tables are doing the rounds. As far as markets go though, Greece really has been written off. It's already crashed and its just a matter of how it is hosed off the European pavement and how you support its dependents.
What's this? Bears on the rampage? We know... that's why we are long. Oh hang-on, Lions and Wolves too? Reading this story is like reading a potential Movie Script. But which one would you make it into? Night at the Museum? A Disney cum Toy Story animal escape escapism special? A mammalian Jurassic Park? A Jungle story? Or go all introspective and do "The Deer Hunter". Or just blast it up with a Chevy Chase/Steve Martin roadtrip meets the wild comedy? But after reading "In the summer of 2010, an animal caretaker was killed by a bear at a property in Cleveland. The caretaker had opened the bear's cage at exotic-animal keeper Sam Mazzola's property for a routine feeding. Though animal-welfare activists had wanted Mazzola charged with reckless homicide, the caretaker's death was ruled a workplace accident. The bear was later destroyed. This summer, Mazzola was found dead on a water bed, wearing a mask and with his arms and legs restrained, at his home in Columbia Township, about 15 miles southwest of Cleveland" we think we'll go for Pulp Fiction .
Oh hang on something's going bleep... Back to work. Aussie Dollar crosses. Some interesting soothsayer turn signals have been pointed out to us on many of them. Worth a punt? Lets look. OK, yes let's buy some GBP/AUD to keep us amused...