1) Rio will release results after the market in Aust closes and the market will be watching closly as IO is Rio's back bone and a major influance on pure play IO producers
2) The US has had a big run upwards in last few days and maybe it is just pausing for a breath of air and further to this is going to be closed on Monday 17th
3) Traders and Steel companies in China not yet back in to buying mode as stocks at the ports are healthy (abt 97 mt) watch towards end of Feb and early March as the winter starts to come to an end
4) Aussie market up over last week and just perhaps some consolidation
Overall it could have been worse and the shorters could have had made a play but appears they did not and simply some profit takers IMO.
AGO Price at posting:
$1.08 Sentiment: Hold Disclosure: Held
