charts & thoughts (october), page-10

With iron ore price having rebounded to around $117 and the SP not really having responded at all, I personally think she is a monty for a T/O attempt.

Having said that, the T/O is going to be more effective (for the predator) if the SP has been depressed for longer. An opportunistic bid of (say) $1.90 could get up if the price has been bouncing around $1.30 for six months or so.

So I can't see any predators rushing in just yet because they would probably have to offer significantly more than that at this stage because most holders would have hope of a rebound to at least that $2 level in the near term.

A predator wants to strike when hope has been weakened, and I don't think we are there just yet.