Big Iron bashed as sell side capitulates

Dalian is holding up today:

But Big Iron is getting hit with FMG at new closing lows as Citi downgrades:

There is a very long and embarrassed list of brokers to follow…

Big Gas is getting a little relief:

Oil has further to fall…

Big Gold is off as DXY rebounds:

Big Credit is up as investors still aren’t sure how to price zero growth, bubble exposed utilities…

Big Liar is up and REA looks keen to run again:

Finally a bonus chart, Big Ticket Item is down as Amazon spooks anew:

The dying Aussie consumer is not fully priced in those top two…

Comments

  1. Given the number of sectors and big index names on the nose for various good fundamental reasons (including the banks, TLS, materials, energy, discretionary retail, now staples too) XJO as a whole is remarkably resilient – reflecting the fact all that super money has gotta go somewhere. How long can they keep pushing health care on the same old justification that “people are living longer”? PE multiples over there all well above 30.

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