Big iron tracks Shanghai in mother of all bad ideas

Tuesday, 28 July 2015

Big iron is tracking Shanghai today with BHP, RIO and FMG all down sharply earlier but now square on the day as Shanghai rebounds. If these stocks are going to develop a correlation with Chinese equity then we can safely say that they’re bloody doomed:

Idiocy spreads are suddenly screaming shut once more. FMG is at new levels of sanity and both BHP and RIO stupidity is narrowing fast:

In juniors, AGO is still trading at 4 cents and BCI hit a new low in its terminal decline at 26 cents:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.