Indeed I would be and have held previously but at this point seems to me something has to give. I won't buy anything that is technically overbought like this. The global economy is keeling over in spite of the massive stimulus being provided by central banks. The markets have rebounded strongly and look to be struggling so we may see a retrench in all assets over the short term. I am a very short term trader and trade continuously in and out especially when I see big daily fluctuations in the same sector as all stocks don't move at the same time. I wont buy anything without looking at the technicals first. The weaker Aussie will no doubt be playing a part here too. Its a matter of being patient and waiting.Of which I wasn't. The future of commodities will be bright as government paper self destructs against them but the way I see it is we have to correct first. So I continue to wait with a bit more patience.
FMG Price at posting:
$6.60 Sentiment: None Disclosure: Not Held
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