Big Gas pounded as Big Spruik licks wounds

Big Iron is mixed today as Dalian opens -1% lower. BHP -1.3%, RIO -0.4 but FMG is up 1%. WHC is -1%:

Big Gas is falling sharply with oil. WPL is -1.6%, OSH -2%, ORG -2.5% and STO at new lows of -1%:

Big Gold is pulling back after yesterday’s strong bid with NCM -0.2%, RRL -2.5%, IG -4.2%, EVN -2.2 and EVN -0.4%:

Big Debt is also on the nose as CBA sliding inexorably towards another test of support in its mega-bear chart and NAB -5.5% ex-div:

Finally, Big Spruik is mixed with sullied MEA -1.6% but hideous FXJ and REA rebounding 0.7% apiece on sell side grovelling:

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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.