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
See ya and wouldn’t wanna be ya. That’s today’s market message for Ian Narev as CBA jumps on his exit: Dalian is eroding as China data heralds the slowdown: Not that Big Iron cares: But it will! Big Gas also looks weakish: Big Gold is flying though: I’m a seller here as the DPRK
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
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
Dalian is soft during the day: Big Iron is copping it: Big Gas does not look well: Those descending triangles on the majors might break. Oil has rebounded but they haven’t… Big Gold still looks weak too: Big Bubble has lost it’s froth: And Big Liar is whatever: Avagoodweekend.
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
Dalian is still powering today: But Big Iron isn’t as the AUD rips: Big Gas not happy, either: Big Gold is downright unhappy: Banks are partying after APRA didn’t address risk weights. But it is surely going to… Big Liar is going nowhere: ASX still stuck in the mud.
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
Dalian is weak today: But Big Iron firm: Big Gas has finally caught a bid as the oil short covering rolls on: Big Gold trends still look a little sad: Big Bubble is firm just because: And Big Liar: Market of the day is the AUD/USD which remains a coiled spring at long term resistance
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,
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
Dalian soft: The spark is gone from Banana Man. Big Iron down. BHP saved by corporate action: Big Gas burned: Big Gold hanging in: Big Bubble deflating: Big Liar drifting: Stagnant market.
Dalian is quiet today: I’m not calling any tops in the Banana Man bubble. It’s impossible to do so given it is entirely self-referential. Big Iron is soaring as it took off last night in London: It’ll end when it ends… Big Gas is up solidly: The oil short squeeze probably needs a bit more
There’s nothing like good growth to upset Banana Man. After all, that means less stimulus which is all that matters: Big Iron is down too: Big Oil is also sagging: And Big Gold: Big Bubble too: And Big Liar: EOFY sell! Avagoodweekend.
I thought he’d been whipped but how wrong I was. Banana Man is back and he’s buying Dalian: He doesn’t need a reason when he has himself. Big Iron is booming: How far it can get I have no idea. It is has no underpinning to guide us. Big Gas is flying too on the
China is stimulating again so it’s time to buy Straya! Dalian is still up 6% on yesterday: Big Iron is piling it on: Big Gas too: Big Gold hosed as bond yields jump: Big Bubble bought: Big Liar too. REA is launching as it goes into mortgage broking making it bubble central: Shame China isn’t
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
A little bid in Dalian today: Big iron too: And Big Gas: Big Gold down a bit: Big Bubble mostly down too: And Big Liar continues to reach for the stars anyway: Because Australia is different.
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.
Dalian soft today which makes sense since its outlook is getting worse not better: But the technical action is enough to have reversed some of yesterday’s losses in Big Iron: Big Gas stinks of false hope today as it rises a little: Oil going sub-$40 in my view… Which means Big Gold is a buy
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
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
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
Dalian is holding up today: But Big Iron is getting hit with FMG at new closing lows as Citi downgrades: There is a very long and embarrassed list of brokers to follow… Big Gas is getting a little relief: Oil has further to fall… Big Gold is off as DXY rebounds: Big Credit is up
The ASX two day boomlet has fallen over today, down 1.4% as I write. It started badly but then got worse with the good jobs number: I guess the market was sneakily readying for more rate cuts. Not yet. Meanwhile, Dalian is stable: But Big Iron is getting slammed (even coconut vendor RIO): As oil
Don’t look for rationality here. Dalian is soft: But Big Iron is mostly up: FMG is up 1% even as iron ore hits new lows. Makes no sense but the 58% discount has eased a little so not entirely crazy, either. More losses ahead. Big Gas is mixed: No upside here as oil falls with
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
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
Dalian is soft today: Big Iron is down: FMG has broken to new lows. Here’s the monthly chart: How low does it go? All the way in my view. Although it has deleveraged, it is now confronting a potential structural shift in the steel market in which abundant lower quality ore becomes the fulcrum for
Dalian has held onto mild overnight falls today: Big Iron is up anyway: Big Gas is up a little: Big Gold is powering: Big Debt sold again this morning but not negative GDP gave it enough hope to rebound: Big Spruik plods on: Pretty boring today.
