FMG

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$21.41 fortescue ltd

Iron ore price, page-39813

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Greatone

849 Posts.

1133

27/10/21

08:59

Post #: 57099780
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Originally posted by zendiceman: ↑

had to laugh at that. Great call Professor!

The animals going Oink Oink are leading an professional down ramping group. I'm almost certain of it.

As I've said countless times before anyone who understands the Iron Ore market over the last 30 years will say the average price is meaningless

The world today looks nothing like it did 40 years ago , 50 years ago and even less than it did 100 years ago. So why would I ever reference it
in my investment decisions. It's pure con - nothing less.

The reality is that we have four or five players that control the global supply. They can decide to reduce supply at any time by slowing down there production rates to influence the price. It's clearly evident at the moment and it's a wonderful thing. Think Vale, who is profoundly open about it, think RIO, think BHP, all who are under producing atm. It's a lovely thing.

When the price falls it's momentary, but it's the death kneel to many a small producer and the Chinese producers alike. This in turn reduces supply and strengthens the position of the big boys and guess what happens the price goes up again. Simple supply and demand.

I also love the opportunity to buy distressed assets when people fail to see the Forrest for the trees and they can't see the real value.

Now is such a time for FMG. So so grossly under priced it's funny.

I'm happy to keep buying. And wlll continue to dedicate 20% of my after tax income to this pursuit of wealth. I still invest in other entities, but they are traded at peak to buy more FMG.

And so it goes on.

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"The animals going oink oink are leading a professional down ramping group".
Completely agree.
When the iron ore price was falling a group of posters turned up and started shamelessly talking down the situation with constant posts characterised by little or no analysis and just negative opinions. Now the iron ore price has stabilised that group has disappeared. It was pretty transparent really.
Remember this next time prices are moving and they turn up their volume and don't get sucked in by them.

FMG Price at posting: $14.37 Sentiment: Buy Disclosure: Held
23 Upvote

3 Great analysis

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(20min delay)
Last $21.41		Change -0.260(1.20%)		Mkt cap ! $65.92B

Open	High	Low	Value	Volume
$21.52	$21.67	$21.30	$150.5M	7.000M

Buyers (Bids)

No.	Vol.	Price($)
1	93	$21.40

Sellers (Offers)

Price($)	Vol.	No.
$21.41	12657	3

View Market Depth

No.	Vol.	Price($)
1	93	21.400
2	3150	21.350
1	200	21.330
2	1046	21.320
1	1000	21.310

Price($)	Vol.	No.
21.420	1200	1
21.450	1500	1
21.510	2020	1
21.520	951	1
21.530	1500	1

Last trade - 16.10pm 28/06/2024 (20 minute delay)

FMG (ASX) Chart

Iron ore price, page-39813

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Iron ore price, page-39813

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