Dalian dead cat drags FMG from brink

Friday, 7 November 2014

The big miners are all up today as the dead cat purrs. BHP and RIO are up well over 1% and FMG has edged back from the $3 abyss, up 2%. Here are the comparative performance charts:

The FMG idiocy spread is now closing with alacrity but the major’s continue to plumb the depths of low IQs:

Even the junior smash it taking a breather today as BCI launches 6% and AGO 4%. Alas, the damage is done and the indexes continue to seek Hades:

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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.