Your status says you 'Hold' then you will know that FMG reacts to bad news at a greater percentage to RIO. It is also at the mercy of the market makers and heavily effected by sentiment...but you know all this as you are a holder. Blox was airing his valid view that they do indeed trade in a very similar pattern backed up by IO/DCE movements which you also know being a holder.
His point (IMO) was merely that RIO was recovering quicker than FMG to the recent drop in IO/DCE. Asking a valid question as to wether there was news out or a situation that was only effecting RIO price or wether it was the usual market makers draining every drop of blood from the recent declines. Looking at RIO today I would say an element of blood sucking going on at the FMG table.
Iron ore price, page-485
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |