Big iron is riding the dead cat higher today with BHP up 1.5%, RIO up 2.6% and FMG up an astonishing 9%:
There is absolutely no reason for it, of course, other than panic buying, but that’s OK, it’s another chance to load up with more shorts given the fundamentals are getting worse and the technicals have been blown to bits. One should greet all rallies of this nature with a knowing smile henceforth.
Idiocy spreads are slamming shut:
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