Iron ore due to the nature of the market is extremely cyclical and has large percentage movements over the course of a year.
Also, the AGO price is at a "Goldilocks" point where 1 pip is around a half a percentage movement. Making any substation shifts in price (in terms of dollars and cents) very profitable. (Not too much not too little)
I initially only longed AGO as I believe they have great medium/long term upside and a business foundation, but given the global climate it would have been silly to miss the price slide.
Cheers, MLJ
AGO Price at posting:
86.2¢ Sentiment: LT Buy Disclosure: Held
