Ian Narev has killed the stock market

Dalian is still running:

Big Iron is down as it goes ex-div:

Big Gas is running too. The two pensioner rorts, STO and ORG, are re-rating I reckon. The market does love a rent-seeker:

Big Gold loving it. I’m still a seller here on the basis that the USD fall is (largely) done:

Sleaze Bank is at more new lows again on the latest reports of its dreadful risk management. Honestly, this drip of bad news will go on and on, and if the banks can’t rally then the bourse is shot, Thanks Ian:

MEA is outperforming Big Liar as McGrathmaggeddon mulls private equity (if you believe him):

XJO is still stuck on the tram tracks and flat today despite the Wall St surge, with a bearish head and shoulders top plus descending triangle looming:

Avagoodweekend.

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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.