Alex Gluyas

Heavily invested local traders are licking their wounds after the biggest one-day sell-off in digital currencies. But some are already buying the dip.

Futures point to a 0.9 per cent drop when the ASX opens on Monday, but the pullback is expected to be short-lived as bullish investors buy the dip.

The seasonal surge in the cryptocurrency is being turbocharged by the US government shutdown, which is fuelling a rotation away from the greenback.

While gold may have dominated headlines this year, a new crop of metals have quietly surpassed it as investors hunt for even bigger returns.

ANZ is confident that the raw material will remain above the key psychological level for the rest of this year, defying more bearish forecasts by CBA and Westpac.

A group of ambitious fund managers started buying beaten-up lithium stocks in June. The bold bet paid off this week as prices surged.

Totus Capital’s short positions have cost its Alpha Fund 10 per cent this year, while QVG said its shorts had “defied gravity” and are due for a reality check.

TenCap said the market operator’s shares were “super expensive” and repeated missteps had opened it up to more inquiries.

The sharemarket is set to eclipse last year’s record number of buybacks as boards become more risk-averse in the Trump era.

Commodity traders were among the biggest winners from Trump’s massive 50 per cent tariff on the metal after the news widened the gap between US and London prices.