Via Morgan Stanley: ‘…so you’re a commodity analyst, and you don’t track bitcoin? Should I be worried about that?’ – bitcoin enthusiast Latest fiat money: Bitcoin’s value has lifted about 5x since a period of relative stability pre-Nov-16, to over $4,000/bitcoin (Exhibit 1,2), on mainly rising geopolitical tensions. Curiously, we’re receiving investor queries on this
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Dalio: gold’s time as insurance is now
by Chris Becker Gold isn’t money or currency. Its main use is as jewellery. Because its shiny. Shiny things sell. Outside vanity, its real utility is in specialist industrial applications particularly electronics, but also optics and space based applications. But that ignores its historical “value” whereby like a lot of other institutions, its worth is
ASX staggers as Australian dollar goes ballistic
A currency shock is being unleashed upon Australia: How high it goes is anybody’s guess. I still say low 82-83 cents with DXY falling further yet as EUR powers on. But everything is sure getting overheated. Dalian is falling: The ASX is staggering under the load. Big Iron is trying but can’t get far: Big
ASX sags
Big Banks trample APRA pansies
Dalian has just flopped into the positive today: With Big Iron down a little: Big Gas is up a bit as one of Australia’s most evil firms, STO, gouges the entire east coast for better profits: Big Gold is still sickening: Big Banks are trampling the APRA pansies: As Big Liar trades sideways: Another ethicists
ASX screams policy error at RBA
The world’s crappest bourse knows a policy error when it sees one. As the Aussie flies on RBA wings today: The ASX200 is down firmly and still sporting a nasty head and shoulders topping pattern with a neckline around 5600: Bond yields are getting hosed: Dalian is going nuts: Big Iron is mostly up but
ASX sticks with topping pattern
Dalian is a little soft today: Big Iron is still firming: Big Gas has all but ignored the oil rebound. Very sensible: Big Gold is marking time: Big Bubble is down despite the steepened Aussie yield curve: Big Liar is threatening a little convergence as high flyers come back and MEA mulls a bottom: Finally,
ASX forms nasty looking top
All quiet on the Dalian front: Not so Big Iron, getting bashed, except BHP on corporate action, classic pennies on front the steamroller there: Big Gas looks about to break new lows across the board: Big Gold not looking too hot either, forming downtrends: Big Bubble not happy today which is not a good sign
Iron ore rockets as Li Keqiang backs growth
Dalian just went sick: Big Iron is following: The trigger appears to be a speech by Chinese Premier Li Keqiang in which described the momentum of world economic recovery as “insufficient“: Anti-globalisation voices emerging World political risks on the rise Momentum of world economic recovery insufficient economic growth needs to ensure fairness, sustainability limiting trade
As Australia goes ex-growth so does the ASX
Dalian continues its recent pattern of firming at night and sagging during the day today: Big Iron is mixed: Big Gas is still stinky: Big Gold is up: Big Bubble is reeling: And Big Liar is as mendacious as usual as REA breaks out: As Australia goes ex-growth so does it’s share market. Avagoodweekend.
ASX thumped
Dalian has opened flat: Big Iron has broken with FMG right at new intraday lows, BHP crashed through them, and even coconut vendor RIO under pressure: Big Gas is now burning out of control with STO pointing straight towards new 40 year lows: Big Gold is chopping wood in its correction: Big Bubble is bursting
There’s gold in that thar Fed
From Macquarie: Fed still gold’s key risk and opportunity The Fed remains the key risk and opportunity for gold. Raising rates despite low inflation, and promising far more hikes to come, seems bearish gold and in the short-term it is. But ultimately we believe the Fed will realise it can’t deliver –so rates will
As global stocks soar, ASX crumbles
Dalian is wandering aimlessly today: Big Iron is mostly up: Big Gas is burning: Big Gold is correcting: Big Bubble has had its run seemingly: Big Liar is soldiering on: And a bonus chart today, hope your enjoying Australian exceptionalism: If not, try the MB Fund launching July 1st with a 70% international equities allocation. Sign
Enjoy long weekend, buy a bank
That seems to be the depth of reasoning overtaking the share market today as banks soar. After all, nothing says buy banks more than a crashing global yield curve and an even more rapidly deteriorating local economy. Booya! Go figure. Meanwhile, Dalian is OK so far: Though Big Iron is not so good following overnight
Iron ore falls, miners pull a Costanza
Dalian is moderately ill today: But it’s Costanza day on the market, “do the opposite”: Perhaps it’s this tripe from CBA: “Rising seaborne and domestic Chinese supply and muted restocking demand help explain the recent slump in iron ore prices,” he says. “The higher prices that prevailed earlier this year likely reflected temporary factors, such