US "Cyber" Attack? Shuts NYSE, Trains and Airports.. | Iron Ore in "Free-Fall" .. Where is the Bottom? | Alumina Disappoints.. AWC in Focus |
Good morning, Is it Friday already? Every day at the moment feels like an absolute “eternity” as the global volatility intensifies… NYSE suspended trading for 4 hours last night? Wall Street Journal closed? United Airlines grounds all flights Subways closed in NYC 2,500 people in “mysteriously” lost power Cyber stocks rallied last night…. Dow – 264 points… The issue now is iron ore and China … Iron ore fell ~ 10% in the past 24 hours, as Chinese markets plunge and growth slows… RIO is now below $50.00 BHP is now trading around $25.00 FMG is below $1.70 Sure… opportunities are starting to arise, but where is the floor?? The inherit issue in Oz is our reliance on the base metal…… AUD is below $0.74…. every $1.00 iron ore falls, reduces our fiscal revenues by ~ $300 Million……. Australia, the lucky country? mmm……… The SPI is pointing to a 23 point fall this morning
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