someone know something, page-12

Jojo,

Despite my weighting, on JBM I sleep one of the soundest, being confident of the longterm gains, hopeful of short term gains, and very doubtful of any prolonged deep sp weakness on the road up.

BHP worries me in the short term, too much a massive momentum stock. Forward PEs still OK but where's this run stock, and the sharp pullback (stoplosses, CFDs etc) occur? 48? 50? couldn't run through to 55 or 60 without a major pullback?

Iron ore I have missed, tried researching, but put aside a couple of months ago for the recent nickel party. So much a matter of winners and losers with the infrastructure wars. AGO looked one of the better, but I've not been able to see my own contrary angle. People are the key with iron, eg FMG and the winners not likely to be those I am most comfortable trusting, eg Twiggy. Agree iron a long term winner, global steel output to treble in the next 20 to 25 years imo, but then nickel should track it and where is that going to come from? puts the marginal cost sulphide producer into deep, complex and low grade deposits imo - leaving JBM sitting pretty with some kind of 7 digit tonnage yet to find and extract, much of it ultra low cost.

Still hopeful of catching one of the ironers as the sector matures. Any recommended sources of info?

EL