Iron ore miner short squeeze disappoints

Monday, 24 November 2014

I was hoping for better. RIO and BHP are up a lousy 3.5%, reversing just two days of losses. FMG is doing better, up 9.5% and reversing 3 days of losses and one third of the Aitken crash. Here are the comparative indexes:

The idiocy spreads are all widening again:

The juniors have given the PBOC one giant yawn as the dirt is shoveled over their caskets. ARI is up 5% and BCI 6% but that’s about it:

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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.