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Dalian sells, Big Iron roars

Tuesday, 6 December 2016

Dalian is retracing today:

Big Iron is ignoring it as the sell side piles in with upgrades with BHP 2.1%, RIO 1.7%, FMG has hit a new high 2.1% and WHC 5.2%:

Bubble!

Big Gas is up too with WPL and OSH 0.6%, ORG is 3.3% on its demerger plan and STO 1.4%:

Gold miners are mixed with NCM -0.5%, RRL -3.6%, SBM 2.3%, IGO 3.3% and EVN 1.7%:

Too soon.

Big Debt is rebounding 1%:

Big Spruik is mixed with MEA -1.1%, REA 1.3% but repellent FXJ is 3.3% for no known reason:

Hopefully it is a false dawn.

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.