Another iron ore junior swan dives into the tarmac

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The iron ore equity market action today is mixed with the majors continuing to bleed lower but FMG still outperforming on sell side uppers. Here is the relative performance chart:

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The idiocy spreads are still getting wider:

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The junior mausoleum is mostly quiet but the BC Iron swan dive continues, down another 5% today and close to $1 after its flight of fancy at $5.50 earlier this year. I’ve expanded the chart to give a more operatic grasp of the quickening belly fop:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.