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A good lead from Wall St and the recovery is back on. Travel flying, banks strong and vaccine roll-out going smoothly. Even hints of a stimulus bill...about time. 2021 is shaping up to be a year of recovery absent the political volatility and unpredictability. Today we look at whether BHP, RIO and FMG are expensive and debate whether to respond to recent short term sell signals. We have the usual technical observations. ANZ paid its dividend today to coincide with its AGM which suggested they haven't lost a dollar in defaults because of COVID and have therefore over-provided which may mean share buybacks from all the banks next year. Westpac pays its dividend on Friday. NAB AGM on Friday.