ASX bath of blood parts for gold

The Australian dollar is firm this morning:

Bonds are selling but nothing like the US as we approach RBA easing:

Stocks have gone from a dire technical rollover to something more non-descript:

Big Iron has bounced a little. I would buy this dip but I’m unsure if it’s over. We should have corrected deeper but, then again, mills often resume buying post-Golden Week:

Big Gas is as fooked as oil:

Big Gold has gotten a corporate boost today as NST and SAR merge. Pleased to say we’re stacked with the former:

Big Banks are still locked in their downtrend and, given the RBA is about to demolish the curve, may well miss out on much of any short-term rotation if curves keep steepening in fake stimulus elsewhere:

Still not much to recommend the local, post-profit-growth bourse.

David Llewellyn-Smith
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  1. That Bill B. sure knows how to create value! glad to have gotten a whisper in the ear about NST a few years back….

    • I’ve seen him present a few times and I always found him a touch blase, arrogant, which concerned me. But he seems to keep delivering.

      • Seems to be…. he’s lifted a small cap miner at 70 or 80 cps by about 2000%, into a top ten global gold company worth 16 Billion in the space of 7 years…. yeah, “Not Bad at all “