Fortescue breaks as RIO's coconut business booms

Dalian does not look well again today:

Big Iron is half following with FMG breaking to new correction lows. But RIO is, rather unbelievably, higher today than it was when iron ore was at $92. It’s secret coconut business must be booming.

Now that’s what you call mis-pricing!

Big Gas is sinking with STO looking like it’s headed back to its lows, deservedly:

Big Gold is strong:

Big Debt is mixed:

Finally, Big Liar is holding up except McGrathmaggeddon which has crashed to new all-time lows:

The market is telling you to shut your spruikhole, John.

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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.

Fortescue breaks as RIO’s coconut business booms