Miners sell as futures fade

Wednesday 10 June 2015

Big iron is on the nose again today. BHP is up a touch but RIO is down more and has breached support levels in its recent rebound. FMG is also down 2%. To the indexes:

The idiocy spreads are galloping closed again:

And juniors just as dead:

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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.