Iron ore miners set course for Mars

Wednesday, 4 February 2015

Get outta the way! The equity market has lit a match under iron ore miners’ solid rocket boosters and the torch blasting them skyward is obliterating shorts. BHP is up 3.5% from 5% earlier. RIO is up 3% from 3.5% earlier. FMG is up 8% from 10% earlier. Here are the indexes:

The idiocy spreads are all reversing, with RIO now going full retard:

Even the undead have risen today and sunk their rotten canines into unsuspecting bears. Everyone is piling it on with the AGO zombie shambling disturbingly upwards a cool 20%:

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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.