wow -what a day for my predictions,but most are too blind or silly to see the truth.FMG actually sunk today by over 3%,as the news about the dismal results from pt.headland and the neutral from overweight actually took it"s toll from the start of trade.
so what now?basically the US economy is built on a house of cards.they cannot ever buy their way out of debt by printing money.that"s why eventually the outcome is inevitably sombre,and unfortunately will be very sudden and totally unanticipated.
ok,basically china is stuffed because they tried to become the dominant economic force way too fast,and now they themselves have so many shadow banking loans in strife, that have to bail them out or let them go bankrupt.
china has to keep giving the western world news on how everything under their banner is under control,as their own survival and export economy depends on positive sentiment.
so what does that mean for us aussie investors-anything to do with steel will plummet,shares like fmg a lot more than diversified,low cost operators like bhp.
would i then buy bhp at current SP,no way-when the blood starts to curdle in the streets,that"s when it"s time to weigh in.
have a good weekend anyway as i"m only here to help
cheers crazypunter
FMG Price at posting:
$4.68 Sentiment: Sell Disclosure: Not Held
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