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Record highs all round helped by the CBA's good results and their bigger than expected buyback. Everything you need to know about the buyback is in the STRATEGY piece in the newsletter today.  The CBA is expensive but who's going to sell ahead of the tender process and the massive fully franked dividend?  Similarly trapped are BHP, RIO and FMG shareholders ahead of results and dividends while the iron ore price drops 23%. We look at the charts and ask what we should do.  Plenty of other bits and bobs as usual. including a touch of Cliff Richard.