Big Iron dead cat dies

Dalian has wiped Friday’s night’s iron ore and coking coal dead cat bounce today:

Big Iron is still up on hope:

I suggest anyone buying today never take an IQ test.

Big Gas is up too:

One wonders if the slowing in the US rig count is enough to prevent further falls.

Big Gold is still being pounded as France dodges Le Pen:

I still think buying this dip makes sense on the basis that China is going to deflate commodities further, slowing the Fed, and the euro rise some more, pushing the DXY down for a bit. The key will be oil stabilisation.

Big Debt is up a bit, ANZ ex-div I presume:

And the Big Lie is up as well as Domainfax sells itself:

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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.