The Iron Ore narrative seems to change on a daily basis, Pump, dump, pump, dump, blah blah blah... you only have to understand the scope of Evergrande and Country Garden's abandoned projects to see the reduced demand. Suburbs and suburbs of apartment buildings unfnished, and have been for a while as we have shown here on the salubrious XJO Bear forum.
The Aussie IO majors (RIO/FMG/BHP) all have this sideway pattern to them aorund the 200MA. My fave IO trader is MGX (pure play IO) , it has that pattern also, and its tracking right under the 200MA. ITs pretty well the bell weather for this sector. aka depressed. Every time it has a green 3-4 candle run, short it. Sweet
I dont think China is going to be singing any John Symons jingles this time around. That was soooo 2008 ish. Which means the incumbent ghubmint wont be able to do a Kevin Rudd and falsely claim their pristine economic stewardship of our economy prevented a recession. (cheeky little bugger).
Here come da judge! (old skool sayings are the best!)
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