This is from the day-traders forum:
Iron ore is in full-scale retreat, with futures in China plunging to end limit-down on investor concern about the outlook for demand in the world's top user, fresh signs of burgeoning supply from Australia and the hostile backdrop of a broad-based sell-off in base metals.
"Iron ore's centre of gravity is constantly moving lower," said Zhao Chaoyue, an analyst at China Merchants Futures Co. "Concerns about the glut have always been there. Port stockpiles are maintaining near a record and there's a consensus that supply will go on expanding, especially in the second half."
See:
https://hotcopper.com.au/threads/day-trading-05-05-pre-market.3405279/?post_id=24486468
Though I agree with The Dude's excellent post. (Thanks Dude for retaining some sanity in today's melee of fear-ridden comments).
Have a great weekend all. GW
P.S. Here's a grammar lesson for all those duelling dogs with legs raised against trees today, but incapable of writing proppa English
'your' = possessive form of 'you', in either singular or plural
'you're' = contraction of 'you are'.
Recent examples:
'Your the fool for obviously ...' = wrong
'You are the fool for obviously ...' or 'You're the fool for obviously ...' = correct
'Your really bitter' = wrong
'You are really bitter' or 'You're really bitter' = correct
It's a bit like that saying 'the moment you invoke Hitler in an argument, you've lost'. When you get into a slanging match, but can't write too well, well ... respect for what you are saying tends to fly out the window.
