Rate cut rally persists on ASX

David Llewellyn-Smith

Wednesday 11 October 2017

Dalian iron ore is flat

But coking coal is dead cat bouncing:

Big Iron is still torn between a breakout for RIO and breakdown for FMG. I back the latter:

The Pensioner Killers are up:

Big Gold is up too. Sell!

Aussie bank shares have been rising ever since the RBA indicated it would cut rates again if it needed hinting at a revived yield play. Except Big Sleazy:

Same goes for the Pascoe stocks:

The ASX200 is smack in the middle of its tram tracks again:

Not going up until things get worse!

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.