One man who will be breathing an enormous sigh of relief today is Trevor Sykes with BHP blasting through $20 and effectively ending the infamous Sykesnado in which he instructed all to buy the stock as it plunged into a value destroying vortex. Dalian is still limit up and thus BHP has piled on another 3.3%, RIO 3.6% and FMG 6.6%:
If you’d like to restore some credibility, Trevor, I’d recommend declaring BHP a “screaming short” on a 12 month horizon.
The Sykesnado is not fully over, however, because it also flogged banks very hard throughout their decline and they remain well down with CBA off -08%, WBC -0.6%, NAB -7%, ANZ -1.3%, BOQ 07%, SUN -1%, BEN 0.4% and MQG 0.5%:
Big gas is also up today despite another inventory build in the US via API and oil falling during the day, with WPL -1% on its lousy quarterly sales, OSH 4%, ORG 2%, STO 3% and LNG -1.3%
Phew!
