Australian banks Australian LNG Commodities Iron ore price

Shares go buy, buy, buy!

Wednesday 2 March 2016

Shares are off to the races today after the wild lead from offshore markets and the local GDP beat. Banks are scorching higher with CBS ripping 3.8% away from its doom chart level, WBC 3.6%, NAB 4%, ANZ 4.25%, BOQ 3.5%, SUN 3.5% and BEN 2.1%:

Miners are tearing higher too with BHP up 3%, RIO 4% and FMG breaking out at 5%:

The FMG chart shows a run at $2.45 and or $2.65 is possible:

Readers ought to know my view about that! Dalian is down two points…

Big gas is also racing with WPL up 4.3%, OSH 3%, ORG and STO 2.6% but LNG down -2%:

It’s buy, buy, buy!

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.