I held this stock less than a few weeks ago for the same reason i own gold stocks with high cash costs, wanting leverage to IO prices. In the case of gold to the POG. That said i recognise, the same as i do for the gold price, that such high prices are not sustainable in the very long term. Was holding this on my belieft the structual shifts in pricing would not occur until 2013 or 2014 and i would get some leveage and sell.
Personally (it's my opinion only) that shift is coming early. IO prices have been almost bubble like, a ten fold increase in 10 years is not sustainable (look at IO price chart) and has been fuelled by fixed investment growth in China and loose monetary policy. Couple that with risisng costs of labour, fuel etc and you can see where this is going. When supply outstrips demand the IO price will quickly fall to it's previous levels just above the MC of production.
- Forums
- ASX - By Stock
- FMG
- dogs shorting fmg not so subtle
dogs shorting fmg not so subtle, page-13
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
|
|||||
Last
$15.88 |
Change
-0.320(1.98%) |
Mkt cap ! $48.89B |
Open | High | Low | Value | Volume |
$16.40 | $16.41 | $15.88 | $188.3M | 11.70M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 15657 | $15.87 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$15.89 | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 4757 | 15.870 |
6 | 74490 | 15.860 |
31 | 55708 | 15.850 |
2 | 14604 | 15.840 |
2 | 36110 | 15.830 |
Price($) | Vol. | No. |
---|---|---|
15.890 | 2000 | 1 |
15.900 | 1600 | 2 |
15.940 | 2000 | 2 |
15.970 | 3000 | 1 |
15.980 | 89 | 1 |
Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |