The ASX is flat flat today, sitting right at the bottom of a scary descending triagle:
Dalian is down again:
Big Iron is mixed. BHP approaching break out:
Big Gas and the pensioner gouge roar on:
Big Gold too:
The Big Sleaze can’t stop falling.
Perhaps Narev has to go?
YOU MAY ALSO BE INTERESTED IN
Macro Afternoon
A very mixed day across Asia as the reaction
"Bondcano" fizzles with oil
AUD is up a little through the morning with EUR
Desperate Fortescue breaks with iron ore cartel
Via FMG: Amusing stuff. Desperate even.
Shall we give LNG import rights to the export cartel?
More absolute garbage today on gas, via The
Is the AUD/USD a bit over cooked ??
Look at that price earnings ratio for CBA! Starting to look like good value.
I mean, even if they receive a $1 billion fine……….
betcha they settle out of court..$200m. max is my guess….any further offers??
$100m election funding for the libs.
A cynic would say there’ll probably be a strong (PPT) bounce to 5720 or more tomorrow just so that the 200DMA break doesn’t get confirmed on the weekly.
The AUD/USD is definitely not over-cooked ………… going to 83 – easy, peesy = US$ not reacting upwards to geo-political risks, as it did in the past = negatives in US surpass *safe-haven* attributes.
CBA looking very good value … to 90 after 12-18 months.
BHP now largest market cap stock = positive for XJO = Iron ore, petroleum, coal, gas, copper, lead, zinc = all continuing in their major medium-term uptrends = no mistake about that.
dxy = whoosh
Perhaps Narev has to go?
Or scomo has to go