iron ore price, page-39

Does anybody know how IO did overnight?

There have been some comments here about AGO should be trading much higher due to cash/income etc.

Well yesterday GRR had been trading at $25m below cash backing and offering a 13% dividend which will be maintained by $170m in cash. I had to rub my eyes when I saw it.

So anything can happen in this market. I just want to make that point for those who think this is the opportunity of a lifetime - there are always far greater opportunities in this broken market.

GRR had also been shorted. I now take the view that the opportunity has shifted from investing in undervalued stocks, to investing in stocks which are at the end of their shorting phase and/or have had mini-warrant stops triggered.