The IO spot price is already seriously behind the curve in relation to the futures (and unmistakable trend) which looks like will rise (and ACCLERATE) from here.
(IMHO) In the coming days, the IOP will be propelled upward via a sling shot effect.
Blind Freddie can see the IO cartel now doing an abrupt collective U-turn after a 12 month disasterous experiment (they would all have relented anyway without Hockey and Barnett leaning on them as Australia burns) and a China running on IO dust on a depleted inventory.
BHP just got downgraded LOL because of IO. Now McKenzie has all the excuses (from a fiduciary obligation perspective) to start CUTTING output.
Macrobusiness is getting so desperate (check out today's article on Twiggs), it's flashing NEON to immediately cover shorts on IO stocks.
The ones still shorting FMG are like little kids playing a game of musical chairs all running around while the music has long stopped playing.
Get ready to be toasted.
I am upgrading my sentiment from hold to BUY !
Big Rally Coming me thinks....
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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
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |