As predicted 4.1c! (It hit the head of a candle or Gravestone Doji on 21/4/06)
My friends, If you buy today, make sure you set stop loss. IMO, XAO will fall to 3566 (78.6%), 3000 or less? No one knows how far DOW will be down. As my above post, Chinese economy will slow down a lot because they can not strongly export to US and EU as they did in the last 7 years. Their import from OZ will be decreased. Our economy will slow down and ppl will tight up their pockets. If XAO keeps falling (I think it will) then FMS may fall much further.
Weekly charts show lines (CMO, RSI, RMI, MACD, etc) are not at bottom yet, still room to further fall. New supporting lines are at 2.1c.
I may be WRONG but I keep sitting on my hands and watch.
Take care and good luck.
More info http://business.theage.com.au/business/bhp-rio-face-drop-in-iron-ore-sales-20081010-4xzz.html
Also today article on The Age - IO stocks fall on slowdown fears- written by Barry FitzGerald
FMS Price at posting:
4.3¢ Sentiment: None Disclosure: Not Held
