Time to join the Big Dirt party?

Tuesday, 11 October 2016

Markets cannot get enough iron ore today with BHP 1.7%, RIO breaking out at 2% and FMG 2.2%. Dalian is also up marginally on overnight gains:

I respectfully throw my hands up! The set up is bearish but nobody cares. Oil is lifting all boats.

Especially Big Gas! WPL and OSH have both broken out today 1.3% and 4% apiece. STO is ripping 4% and ORG 3.3%:

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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.