stefans follow your own advice mate, just ignore it mate, I fell into the trap last week of trying to reason with the unreasonable and got whacked with a one week suspension, apparently my 5.50-5.60 forecasts were just ridiculous, the longs were talking 6.15, 6.30. 6.50 and I think I even heard like 7s within a few weeks/months. personally i cant see any catalyst currently that will see this eventuate.
I think we will start seeing a rotation from the longs and div hunters move out of fmg and into other stocks, , for example CBA at 70 bucks would start looking compelling and perhaps take money from FMG as just one example. Combined with that the shorters may move in for some fun also
its clear that most of the apparent free dividend is nearly wiped now, Dalian future has been further whacked down to like 520, may bounce from here who knows.
at the end of the day I cant see a great catalysts at the minute to help this break 6, I think it will just float at these levels if not pull back slightly from here. the div has come and gone, iron ore is at high levels and will either float at these levels or pull back slightly, all the news is out at the minute until we wait a few months for further news, such as debt, next div etc etc
I still stand by my original fmg sp forecasts.
good luck mate.
FMG Price at posting:
$5.85 Sentiment: Hold Disclosure: Not Held
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