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Short Term Trading Weekend Lounge: 9-11 August, page-20

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rick64

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10/08/19

10:29

Post #: 39949502
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Originally posted by jimmityg: ↑

PJ - yeah, metals (that we like looking for) did well, particularly gold. But have you seen Iron Ore prices

Fe prices peaked early July at USD $129p/t. Over the past eight days they've fallen to USD $93. So ASX Top 20 will have been smashed (well the biggest miners were, and so were the banks on Tues and Wed). FMG and BHP look pretty much like that chart - both are back to April SPs, and the overall Iron Ore price looks like it's heading back to pre-Vale catastrophy territory. I did well 3 day trading the bank stocks. I kenw (had a feeling from past experince - ie I guessed) that Wednesday would be a total overreaction (only focusing on fincancial big boys). Had risky buy orders 4% below previous day prices sitting waiting for open. All hit. All corrected. All sold again. But the outlook is pretty uncertain... just look at that chart; that's a scary chart!

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@jimmityg excuse the amateur question but would not Fe be sitting a support now?

XAO Value at posting: 6,663.4
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