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?
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Gas cartel rorts ACCC
The ACCC was out with its LNG net-back price
Macro Afternoon
A generally poor session across stock markets
Daily iron ore price update (more Vale gifts)
Iron ore prices for March 18,
Macro Morning
By Chris Becker US stocks rose overnight
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