VictorW, I greatly enjoy your posts. like you I have a lot...

VictorW,
I greatly enjoy your posts. like you I have a lot riding on FMG (smaller amount on RIo and BHP).
Started buying FMG at $6-50 and progressively averaged down to $4-45 so I can almost see light at the end of the tunnel.

The last few weeks (months - 2 years!) have challenged the soul but Thursday was a real cracker!! Felt like the squirel in the cartoon you posted - a beauty!!

I was close to selling out on Friday open but saw the DOW was up and SPI200 was up, Stochastic dramatically oversold but MACD trending downwards.
Held my nerve and was rewarded with a stellar rebound.

RCMans post showing FMG share price graph vs IronOre price says it all - dramatically undervalued.

Resources would seem to be one of the few indices looking positive as long as Wall St holds it's nerve.

I note your strategy re buying put options when FMG share price is low. Would appreciate if you would explain in detail how the strategy works and how/when you close out the options.

I have learnt a lot from holding and occasionally trading FMG. The market is a brutal place and there would be many SMS investors in dispair this week.

Thanks everyone for your helpful posts - Rurenga first thing in the morning with the Iron Ore price especially.

Keep up. the good work - tomorrow is another day!
Regards
Kangaroo1