OTHER

I have always admired Andrew Forrest’s courage and determination in taking on the big boys and turning the Cloudbreak ore body into a highly profitable mining business. It was an ore body that both BHP and RIO had passed over as too difficult to mine. Twenty years later under Fortescue it has the lowest cost of production of any iron ore mine in Australia and Fortescue is the fourth biggest iron ore producer in the world. Twiggy had hoped to use BHP’s rail and port facilities but when that was denied he built his own. Clearly, a man who knows where he’s going and is not going to be stopped.

Sell signals on Big Tech including NDQ, FANG. Sell signals now on the S&P 500 from overbought levels – IVV, SPY. URNM and ATOM getting more overbought (Uranium up 5% overnight). Other ETF sell signals – QLTY, QUAL, plus Japan and India.

Energy and oil ETFs overbought. NASDAQ and FANG sell signals. S&P 500 ETFs overbought. Uranium and Coal overbought. Some of those big oversold stocks still waiting for a bottom – TLS, COL, APA, RMD, EDV. Travel stocks WEB and CTD oversold short term. QAN and SEK oversold short term. BSL buy signal – oversold on US strikes.

See section for BSL idea. ASX buy signal. Big, quality, oversold. Sell signal on CAR. Uranium still overbought – URNM and ATOM. IVV and SPY (S&P 500) overbought. Sell signal on FANG (Damn), QUAL, NDQ.