This is the premise of the full article which is linked at the start of this thread....quoting from opening paragraph.
"A weakening in the price for iron ore and a nascent bear market in the big iron stocks serve as an early warning system that a recession/depression is looming."
Clive then goes on to use his technical tea-leaf reading mumbo-jumbo which he is so fond of....incidentally i have bought stocks based on Clive's analysis in the past, only to be badly burned.
But isn't Clive's premise toally flawed?
I was under the impression that china had recently agreed to 65% increases in IO prices...but that RIO were wanting even more due to freight advantages from Oz.
I have also read very recent articles predicting another 30% rise in 2009.
Did i miss an announcement?....when did Iron prices fall as stated by Clive Maund above?
Is the spot price down a little?....i have only been following the contract prices which i thought had just risen 65%.
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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