If there is no major disappointment in the US such another...

If there is no major disappointment in the US such another corporate fraud, me may see a break through on the markets and a few days rally. US and All Ords trade on good volume fuelled by positive corporate reports. Don't put all your money on the market but sentiment starts to improve.
My stocks
1. RIO and BHP. RIO is trading on volume above average after being sold for 3 days helped by going ex-dividend yesterday.
FTSE will no doubt follow US markets lifting price of copper and other metals. RIO with long-term target of $41 and BHP valued at $10 should enjoy a 3 days run.
Preferred warrants: BHPWMB call $9 November and RIOWPI call $35 December .

2.News Corporation with the write-down already anticipated but operating income increased by 25% in the 4-th quarter, having long-term 'strong buy' and short-term 'buy' by Merrill Lynch, should do OK.
Preferred warrant: NCPWPI call $10 September

3. Commonwealth Bank reporting next week with anticipated 75c dividend.
Preferred warrant: CBAWMC call $32 September

Ed V