Spot on, it amazes me that it is illegal to up ramp a stock and you will end up in jail for doing it, but it is perfectly legal to short and down ramp a stock, during the great financial crises of 2008 the government made it illegal to short bank stock for a time, if it was okay to make it illegal for banks then why not outlaw short selling now! FMG share price drop was exacerbated by short sellers, it was great form some people, I picked up some extra shares at $14.50. It always pay to look at the fundamentals and not listen to an analysts who has to work for a living or a talking head on TV who likes the sound of their own voices to gush that "FMG shares have dropped 50% in 2 months your all doomed!" Value always return to share prices, it may take some time but it will, just like it has now to FMG. The recent rains in Brazil may make it very difficult for VALE to hit it's export target this year, they have released a statement that everything is okay but I have heard this sort of comment before. The iron ore price looks stable at present and with so much bad news out in the open with regards to the Chinese property market, I can see no reason for a stable iron ore price for the next few months at least, with further upside with regards to the damage down in Brazil from heavy flooding.
As always Good Luck
FMG Price at posting:
$21.23 Sentiment: Buy Disclosure: Held
(20min delay)