NUTS.
Look at the intra day action today
strong afternoon and closed near daily highs !
A classic V WHIPSAW
The morning sellers got Punk'd
Roll up roll up for the cheapies.
I expect for the next upcoming period here on the bimonthly a V WHIPSAW also.
The SHORTS think they had a good run but now think again.
today they made decent coin at morning capitulation trade and then covering back all day to losses,
IO is needed globally and FMG wells 0 to the USA so not affected directly.
China needs FMG IO and due to the massive profits they make on steel exports globally it doesnt matter how much they get it for from FMG its way way below their sales prices on refined manufactured steel.
BURN them SHORTS BURN
BEAR TRAP is SPRINGING imho
FMG Price at posting:
$14.32 Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)