Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Dalian sinks, Big Dirt flies

Tuesday 8 November 2016

Big Iron is rocking again today even as Dalian falters. BHP is 2.6%, RIO 1.7% and FMG 1.3% after earlier hitting a new high at $5.63. WHC is also rocking 5.4%. Dalian is flat for iron ore but down for coking coal -4% (but don’t blink!):

Big Gas is also powering with WPL 1.1%, OSH 1.3%, ORG 1.7% and STO 5%:

Big Old is mixed as NCM is -1%, RRL -1.5%, IGO breaks out of its bullish chart 7.3%, SBM 1.2% and EVN -1%:

Big Debt is getting caned by a lackluster CBA:

And the Big Spruik is enjoying a dead cat bounce as News declares itself a real estate agent with REA 5.3%, awful FXJ 1.2%, MEA 1.6% and MGR -0.5%:

Wild action!

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.