Sleaze Bank plunges on

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?

Comments

  1. Look at that price earnings ratio for CBA! Starting to look like good value.

    I mean, even if they receive a $1 billion fine……….

  2. 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.

  3. 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.