Big Iron hasn’t got the Chinese tightening and rising US dollar memo. BHP is flat, RIO -0.5% and FMG 0.2%:
If I were holding FMG that double-toppy chart would be keeping me awake at night, especially as China resumes trade next week into a clearly co-ordinated and national property tightening.
Big Gas is still loving the OPEC smoke and mirrors act with WPL 0.9%, OSH 1.6%, ORG flat and STO -1.3% and still suffering from rights issue fever:
As much as I’d like to get bullish on these stocks I still can’t given the OPEC drivel, looming Japanese contractpocalypse and the passing US hurricane.
Big Gold is finally seeing a decent sell-off though it’s still pretty shallow with NCM -2.5%, RRL -3.5%, IGO flat, SBM -3.6% and EVN -0.2%:
Probably more downside yet with US dollar looking very firm.
Big Debt is going nowhere. Perhaps most noteworthy is how much Megabank has re-converged:
Given it’s one giant building society you’d expect nothing else.
