Pre market Trading Monday August 22nd, page-13

Good Morning Ladies and Gentleman

The ASX is looking to open marginally lower taking its lead from the Dow on Friday. Oil is steady after its
stellar run of late whilst its terrible twin gold, is off a little. Iron ore was up 20 cents on Friday to settle at $61.
And so the picnic continues. The EU should've kicked the Poms out years ago .

This week on the local bourse sees the final week of the August reporting season and there'll be a few big ones
peeled off. FMG hands its report card in today and judging by recent price action the market is expecting straight A's. It's been a perfectly executed financial pirouette since January this year and it looks well on its way to becoming a fat contented cash cow. It'll be interesting to see what they've got planned next.Thursday is national Bunnings day of celebration when Woolworths face up to their 'Masters of the Universe' debacle. Never mind, they still sell great steaks Others to declare are Harvey Norman and Coke.

Jan Yellen gets to grab the mike at Bankers Idol this week at Jackson Hole and its predicted she'll be delivering
the ultra sad song 'Rate Hike Coming'. This might take a little gloss off things although its always hard to know if bad news will be received as good news or bad news or etc etc........you know what I'm saying. The Yanks don't look to be doing to badly of late although its hard not to get that feeling that things could easily unravel a little. Just don't anyone breathe.

On a good note spec stocks seemed to gain a little sustained life last week. That's what we're here for.

Base metals were fairly steady on Friday.

Good luck everybody.

RJ.