Thanks OPB,
Your Analysis
So that means you say IOP may rise with global equity rally right now, then drop Nov as Roy Hill goes on line in October.
As for buying AGO, defintely tempting to catch any rebound (downrampers call it a falling knife or dead cat bounce). But you took a punt and bought AGO in the face of all other choices.
IO LT looks to me an essential industrial global product more essential than oil or gold, as the 3rd world moves to 2nd world status, 4B more people need more steel & cars, it cant stay low forever, should rebound next year. A good few wars breaking out or increasing QE in Japan, China, Russia, Europe, Brasil, & soon Aust and it may bounce earlier.
Watch the Aust$ to collapse with more rate cuts & low growth like the BRL.
AGO Daily Trading Patterns
AGOs trading over last 3 days on TA is interesting. Morning selloffs met with large buying, lower and lower volume and the flatline remains, which means large buyers are buying the sellers consistently, then that means once the panic illogical selling subsides it will be time for the buyers at 3-4c to ramp it to 8c and make that easy 1 bagger.
But look at the 2 day graphs, 1 day below:-
The MACDS, Stochs, RSI remain positive even elevated, the BB tightens the noose around 3.4-3.6 today since 1200EST, last 2 days the same pattern,
the sellers look tired and exhausted, several bounce offs 3.5 Monday & today,
The sellers failed monday at 3 attacks at 3.1c and couldnt break it,
the sellers tuesday made 3 attacks on 3.3 but held only in the last 30 minutes at close (maybe a DT settling up)
today the sellers
My Question - WHO ARE ALL THESE BUYERS of 420M shares in 3 days?
It cant be the contractors, defintely some short coverers, but the rest?
is it FMG or AF or the chinese? Must be a 5% sub notice soon!
Where are you TA gurus now to analyse this properly!
Clearly some large buyers think its a bargain.
Directors buying heavily is positive, contractors & creditors taking shares is positive.
When will the DTs & longs start the spike up? When the 3.5c flatline stops being attacked?
When do we fencesitters buy our 1M parcels? IMHO only on a defined UP trend rebound with spike ups on high volume, the flatline is a message to all, the floor seems to be holding, dont sell here.
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