Iron ore price, page-3619

Rcman, remember the "IO Future Expert" I was talking about before, he actually "picked" the turn on Thursday afternoon, I was reading his blog and all the sudden he wrote "go long" on Black Series Futures, soon after those index jumped and continue to climb on Friday. Last Monday he also said "lock" some profit at open and we saw futures open high and drop straight after. Now he is long on Black series futures for now, all his followers see him like "god", but I think he has good inside information.

I had nothing to write about FMG from Monday to Thursday, IOP was falling, and nothing seems to stabilize it .

We can't do much about IOP, so I was a bit negative on FMG only because I see Pellet Prices goes up from US$22 Premium in June and jumped to US$51 premium yesterday, at the same time, 62% IO Price goes from US$56 to US$80 then back to US$58 again. The management should come out and say we are fast track the "Magnetite" project. It's been 5 months now since the price increase and we heard nothing from them, I know if they announce anything regarding to this, the SP will stabilize and climb, instead of going from $5 to $6 then back to $5 again.

Seriously apart from Q/half/full year reports I don't think we have any positive announcements for a long long time. We need some "Growth" and "Potential" announcement, regardless what SP is.

So I'm still not fully happy until we get some good news, somehow I think it won't be too far away now.

DYOR.

Frank.