Big Iron flies on rear-vision upgrades

David Llewellyn-Smith

Thursday, 12 April 2018

AUD is stable during the day:

Bonds are selling:

As is XJO:

Dalian has lost its overnight pop:

But Big Iron is up on CLSA upgrades staring squarely into the rear vision mirror. BHP has had five upgrades this week. Great for setting shorts. FMG is finding $4.50 difficult as former support becomes resistance:

Big Gas is up. I still can’t believe STO will get FIRB approval:

Big Gold is not believing:

Big Sleazy is selling again:

And Big Puswad:

Weak as usual.

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.