It’s pain, pain, pain today for the iron ore mining complex. Leading us off, BHP has been down as much 4% as oil joins the iron ore crash. It has taken out its post-GFC low is now in technical free fall. RIO is doing better down just 2%. FMG is down 5%. Here are the comparative indexes:
The idiocy spreads remain stalled, but the “moron cross” approaches:
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Every junior has hit a new 2014 low today, despite some bizarre broker upgrades. It’s a race across the Styx: