Iron ore miner short squeeze fizzles

Wednesday 15 October 2014

The mania that has seized iron ore equities hit a wall this morning as Chinese markets opened flat. The majors are up a half percent but well off their highs:

The idiocy spreads are still widening:

And juniors are all flat as well:

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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.