Iron ore price, page-51445

A few things to note here:

• FMG ADR's traded ex-dividend overnight and held on OK, so a positive open anticipated on Monday for FMG.
• The IO price gain is the overnight gain, the ASX hasn't dealt with the -3% decline on Friday afternoon, but the US has.
• Due to the above, BHP etc opened well down compared to Australia but rallied back so only a moderate loss anticipated on Monday.

Check out the performance in the S&P 500 Equal Weight (black line) and the S&P 500 Index (yellow line) of late... a big chunk of the rally is all in just a few stocks (recalling that as those few stocks go up, it also drags the black line up as well, but not as much). In a genuine bull market its usually the other way around with smaller cap stocks better able to exploit growth and thus an equal weighting performs better than a market cap weighing.