Sykesnado continues to shred banks and miners

The Sykesnado continues to shred shares as banks, miners and gas all fall. For the first, CBA is down -0.7%, while WBC, NAB and ANZ remain in free fall down -1.9%, -1.7% and -2.1%. The mid-tiers in BOQ and BEN are the same at -3% and -4.3%. SUN is going the other way:


The CBA holdout make absolutely no sense of course.

For big iron, BHP is down -0.8%, RIO just -0.2 after its profit shocker showing we are still miles from capitulation and FMG is hammered -4.7%:


Finally, big gas is also on the nose though is getting support from the fantasy OPEC comments of the UAE with WPL down -0.5%, OSH -0.7%, ORG -0.6% and LNG -2%. The mysterious STO rally continues up 4.5% and one wonders if someone has wind of a deal that should be a secret:

David Llewellyn-Smith
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      • The short term fluctuations in the GBP/AUD and the RIO share price moving between -75c and flat for the day move it between 15% and 18% (more or less).

        I’d love to automate, record and graph the numbers, but who has time for that when they’ve got a day job?

      • Franking Credit might have something to do with it, but it is worth at about 120 cents at most to an Australian investor.
        The dividend is the same for a stock in either RIO Ltd or RIO Plc.

        The RIO Plc (ADR) on the NYSE is a slightly different kettle of fish as it is a deposit receipt of a share in London.

    • I would argue that a 7 day moving window would be a better gauge of the ASP, but I quote to my other reply, “Who has time for that?”

    • Looked like a lot of short covering in the morning
      Also on the hourly it has done this 3 times and seems to be forming a flag with higher lows and highs around the 3.25 – 3.30 range each time. Unless it is a takeover, this move looks likely to go sideways for a bit but will it break up or down.