Beach, I aagree.
Ride the wave but this is by no means trading based on any type of multiple or earning. It is 110% speculation stock. If the market turns it will be smashed. Seen it over the last 15 years, FMG touched $130 (pre-stock split) without a lump of ore being dug up, all speculation now the chickens are coming home to roost as valuation is based on earnings multiples not speculation.
My only advice is stay with the trend and protect your profits. The market is heating up, the fundamentals have detached from valuations, similar to iron ore and coal in 2006, 2007, 2008.
Beach, I aagree. Ride the wave but this is by no means trading...
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