There’s absolutely no reason for it except speculation that the worst is passed, the same attitude that has kept investors from making a return in miners for three years, but the major miners are off to the races again today, ignoring falling prices and bad Chinese credit data. RIO and BHP are both up 1% or so and FMG is up 4%. The dead cat bounce has pushed FMG a little back from its technical cliff edge at $2.92 which will relieve Charlie Aitken. Here is the comparative index:
The FMG idiocy spread nonetheless continues to wail shut while the majors have gone to the loony bin:
The juniors are mixed today with a small reprieve for most but the BCI suicide leap is still feeling the wind in its face:
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