you see, clearly you have not read my posts, the ones that were in fact balanced prior to that attacks from the longs, which then required me to stoop to their level.
where have I ever said don't buy fmg, please go back and find me a post where I have bagged fmg and stated don't buy it, I said at around 7 bucks that I felt there may be a better opportunity to buy it, I gave some brief reasons, then I disclosed my trading position also as selling put options, could not get anymore transparent as that.
but what do these forums do with someone that try's to contribute an honest opinion that may have the slightest of bearish views, it attacks them, bags them, belittles them , bullies them
so as far as sell, well it depends on your trading style and at what sp you bought it, if like some of the longs who bought at 2,3,4 bucks and that are adamant that this is going to say 13 bucks then clearly don't sell, in saying that when it punched through 7 bucks to 7.30, if I was long I may have taken some profit.
regarding buying fmg, well once again I think my disclosure in previous posts says it all, if I as a trader are prepared to sell to the tune of 1.5 million bucks worth of put options (insurance)on a monthly basis on fmg then its fairly clear that I see fmg as a buy, and that's why I disclosed my strike price of 6 bucks when it was trading near 7 bucks, because that's what I felt was a fair price at the time and a price I would be happy to buy the stock, not fair on its actual fundamentals such as printing sheet loads of money atm, but fair based on the current market sentiment, that sentiment unfortunately will continue to under value FMG because of the simple reality that most market participants are still cautious on the direction of iron ore.
so like ive said before fmg is a rock solid company, what is not entirely rock solid (in the minds of many market participants) is the certainty of its main revenue source, the future fluctuations in iron ore. And it is clearly this volatility that creates the swings in the share price, which is not a crime to trade, regardless of if your a short term trader, options trader or even a shorter.
so in summary I wouldnt exactly say sell fmg, but in saying that I think people need to be cautious and not believe all the media stories and hype that global economies are doing as well as they appear.
but all this doesn't matter, because in the minds of these minority of longs im apparently a shorter and that's it, because I have a view that there are many bearish opportunities in fmg within the context of a long term bullish outlook. according to them there is only one trading style that you are allowed to talk about in these forums, the one where you press a buy button on your computer and then just sit and wait for 13,15 or 20 bucks, whilst waiting for years you bag anyone that threatens that speculative long term price target that your waiting for.
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