I am mistaken and feel like shite all of a sudden.
I think I went off
@rurenga's posts maybe but on double checking
my charts there is not a gap around here and I think we have decent support above 11.05 or there abouts.
For someone to sell at that price they would be MD (medically deficient) and certified folk are not able to make a contract.
When a company is in the position to pay an interim dividend of 76 cents a share and has a BB in place I would say that is
impossible. Lunnies don't hold FMG shares.
We might only have butter knives to fight with while the big boys have bazookas but they will fight it out amongst themselves
for sure or we will do a big BB if seen fit.
Our XAO is marching on with the RBA about to lower rates and has our backs with at least one interest rate cut. The low
exchange rate is also in our favour and we are in a position to also supply to countries other than China.
And let's face it - Vale is still up a certain creek and paddling like crazy with further rain expected.
Large parts of China are already back at work and some would be working overtime as well to eventually make their GDP
numbers.
Demand remains and is reflected in the price of ore.
Maybe I am once again on the wrong thread
but fundamentals also count along with charts. Plus I am trying to think
logically.
There is a lot of fear over this virus but we are in good hands and if in doubt again watch the interview of EG. The sound
was coming from her mouth (if u know what I mean). LOL Both she and those on the ground representing us in China
are better placed to know about supply and demand, inventory and building peak seasons and the current temporary
difficulty in moving finished product.
I do have my ear plugs in just in case the bazookas all fire at once but it may be an opportunity for super funds to buy
in here. An opinion only.
And when my little Sis starts talking about black swans it is probably about time to start buying.
Enjoy the rest of the weekend and GLTAH. I will do the full T/A post sometime later this weekend after a trip to spec savers.
(20min delay)