the closing price of the materials index retraced upwards barely a quarter of the drop of the previous day.
FMG - I think i was closed out saving me something but o/a the sharp rise still costing me - yes ouch on that one. (closing out to do with funds in the a/c I think) there was a price sensitive announcement also. the stock is still in downtrend, but I will leave it and watch the price reaction to the announcement over the next couple of days.
RIO roughly back to where I started. and I managed another short at a higher price than my first entry.
there was a price sensitive announcement on RIO also (don't think it means much). the retrace on rio was nowhere near as sharp as fmg so I will leave my double dip sort on here.
iron ore prices continue to fall - have now dipped below $US 130 to $129.5
43 degrees in Melbourne yesterday and the same today + a further two days of the same to come. airconditioner thumping away, head under the tap at regular intervals with also regularly wetted tee shirts all help to keep the body temp down.
