It’s a little bit of carnage today for shares. Big mining is being thrashed as reality bites on BHP’s profit shocker 24 hours late down -7%, it’s largest one day fall since the GFC:
No doubt some profit-taking here too. RIO is down -5.1% and FMG -2% as Dalian remains firm:
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In big gas, the pain is widespread as WPL falls -1.8%, OSH -4.2%, ORG -3.2%, STO -3.9% and LNG -5.6% after an huge oil inventory build in API US this morning:
Finally, banks also look sick not least CBA down -1.7% which is flirting with the chart disaster of a broken head and shoulders top neckline identified yesterday:
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WBC is also down -1.6%, NAB -2.1%, ANZ -2.3%, BOQ -1.3%, SUN -0.5% and BOQ -0.9%:
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Not a good day for the bulls.