FMG (ASX) FMG Technical Analysis

Originally posted by ramon ↑

Originally posted by mechanic
Ramon similar position a stellar 2017/2018 financial year only to drop 60% of it into losses in the first 5 months of this financial year, I believe given the current political climate and the changeing USA ? China situation the low interest rate economy now looking to be under threat all serve to drive algorithmic trading systems to over react creating fantastic buying opportunity unfortunately these are very difficult to exploit with the inconvenience of carry losses on stocks you believe are undervalued, FMG repesents half of my portfolio of trading stock all are in a loss position the aggregate is not enormous in percentile terms but the total loss from high of 30/6/2018 to date when carrying considerable profit is in the order of 25% off the high.

If you are a registered trader you will be tracked by high end systems my theory is when the algo sees sufficient trader sales at a loss on a stock that has been PUSHED down it will tend toward increasing the value buying up the sell side and you will be left out of the money I am awaiting the next quarterly result for FMG I think it will be reasonable FMG are doing a buy back I think their reason is that it represents the best return on capital ROC and they have a long history of focus on ROC, Twiggy is buying pretty hefty amounts as well he is in reality an international financier so being committed to a return on capital might well be the rationale behind the BB for both parties and they know more than anyone else, the trading opportunity on spreads is pretty difficult the aggregate looks fine in theory ,however any three day push up can leave you seriously out of the money so I am not prepared to sell, am only writing this to let you know I have similar feelings and a number of times before after acting on them have missed absolutely enormous runs that over 6 or 12 months could have doubled or tripled my return----the wall of worry, you are not alone.
I don't usually have a whinge and just go with the flow, but this 3 or 4 day time lag reporting of short positions for ordinary share traders is starting to annoy the crap out of me. I really think they need a Royal Commission into the way the ASX operates and favours one set of traders over others. Judging by what has come out with the Banking RC I would be pretty sure that the ASX would be found at fault here on this discriminate point and most probably a few others. I remember when the short position data was going to be made available to the public the next day and the shorters jumped up and down saying that they would be disadvantaged if everyone knew what stocks they were shorting while they built their positions and so the time lag for reporting was agreed on. The flip side of this is that it can be said that ordinary shareholders are being swindled as they are unknowingly buying the stock that a large short position is being built on until it is to late. Who would be the villain here--the shorters who are selling stock to unsuspecting buyers because data is being delayed-- or the ASX who is charging the investors for the privilege of buying a stock while they (the ASX) is knowingly delaying information because that could cause them to lose some trading fees from both sides.
Hey imagine if the ASX had to reimburse trading fees because they sat on this information for 3 days and were deemed not to be providing a level playing field for all investors. Anyway I know this is off topic but just wondering if others feel the same way.

Expand

they have the advantage of price dislocation across chi x and the asx plus an incremental advantage thaty retail cannot access in addition algos work the stock perfectly good solid stocks go down no one seems to know why ,somebody else is responsible , dark pools but reality does know the big instos here and o/s the private capital hedge funds they dont really care wether its up or down just the spread and volumes-----its all in the spread

No.	Vol.	Price($)
15	8109	$18.18

No.

Vol.

Price($)

8109

$18.18

Price($)	Vol.	No.
$18.19	1523	12

Price($)

Vol.

No.

$18.19

1523

No.	Vol.	Price($)
8	1426	18.190
13	7265	18.180
8	3221	18.170
12	12672	18.160
13	10479	18.150

No.

Vol.

Price($)

1426

18.190

7265

18.180

3221

18.170

12672

18.160

10479

18.150

Price($)	Vol.	No.
18.200	320	3
18.210	6970	14
18.220	4979	10
18.230	17486	11
18.240	15344	14

Price($)

Vol.

No.

18.200

320

18.210

6970

18.220

4979

18.230

17486

18.240

15344

(20min delay)
Last $18.19		Change 0.220(1.22%)		Mkt cap ! $55.32B

Open	High	Low	Value	Volume
$18.11	$18.26	$18.10	$19.27M	1.060M

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