Sunset Strip | Aussie market popped up 0.8% in the morning and then gave it all up

Sunset Strip | Aussie market popped up 0.8% in the morning and then gave it all up. Market now trading at similar stretched valuations as early July when we went negative short term. The day started weird enough with News Corp taking legal action to block other news media from releasing illegally obtained data about News Corp...the irony in this situation set the tone for the rest of the day. AMA was kind enough to offer a compromise to the government on the co-payment with concessions granted to pensioners and children under certain age...the problem with this suggestion is that the government's revenue model was based on those two categories delivering the bulk of the income...nice one AMA. Clive has not delivered anything today...we'll wait for the next episode of What will Clive do?...who needs Putin!!! Trading idea of the day: Cardno (CDD). Thursday's Thematic Pick: Telstra (TLS). (VIEW LINK)