Mining and energy dead cat screetches

Thursday 17 September 2015

The miners and LNG white elephants are charging today on hopes of an easy Fed. BHP is leading the way up 3%:

The pattern still looks like a rock solid down trend channel but recent action could be a falling megaphone presaging more short term strength. Any breakout could over $30 and do nothing to alter the bearish outlook.

RIO is up 2%:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.