Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Dirt sold again as China anxieties grow

Friday, 14 October 2016

Big dirt is down again as China anxieties grow. BHP is -1.8%, RIO -1.8% and FMG -1.7%:

The BHP short is playing out so far. The RIO’s breakout appears to be false. FMG’s monster double-top is still in play. It would need to fall below $4.60 to be confirmed:

Big Gas is also down despite the oil bounce with WPL -04%, OSH -07%, ORG -0.4% and STO 0.5%

Big Gold is down too with NCM -1.7%, RRL -3.2%, IGO -5.3%, SBM -1.2%, EVN -2.7%:

More pain to come yet.

Banks are easing with CBA flat, WBC -0.5%, ANZ -0.8%, NAB -0.6%:

Shaky again.

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.