The big stupid runs on for big iron
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The big stupid continues for big iron with Dalian off its overnight lows but projecting a decent fall tomorrow as BHP launches 2.4%, RIO 0.8% and FMG 1.4%:
Big gas is enjoying Brent’s half ton with WPL 2%, OSH 0.9%, ORG off to the races 3.8% and STO 4.8%:
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ORG is running free out of an inverted head and shoulders bottom or is running into trouble with a bearish rising wedge. I still wouldn’t buy Aussie LNG for aforementioned reasons:
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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.