Iron Ore Price, page-7272

I have lived and breathed this stock over the past 2 years, and I’ve had enough – simple as that. You are right, I sold for a small profit, I bought 2 years ago for just under $3, and sold around the $3.10 mark. Only twice in the past 2 years have I been in the green – the first time is when they shot up 24% several weeks ago and then rapidly sank below $3 again the following day, and the other time was the past week or so. I was in the depths of hell as little as 2 months ago when they were trading below $1.50, being down over 300k, so I don’t feel too bad taking advantage of what has been basically an exponential rally in the past 2 months and recovering all my paper losses. The rally personally does not feel sustainable – it just feels like a massive short squeeze). I wanted to share my story about holding as I’ve been following the thread and the iron ore price (thanks RC) almost daily for those 2 years. I know there are others who bought at higher levels and they will ramp up this stock until they recover their losses (quite clear who they are) and I certainly feel their pain and can understand their behaviour. As far as 30-40c dividend projections I think that is very optimistic. I have seen internal price projections by BHP and their expectations of steel scrap usage out to 2025 – and it will also grow exponentially and have a huge impact on raw material demand. Costs have been cut to the bone across the industry, supply is in balance, and the big increases seen recently have been hot speculative money driving raw material prices – not real demand. Just my view – and the main reason I saw no point in holding when there is 7-8% yield on offer elsewhere in large cap stocks.