Yes, taking profit when ever you can is a good. Remember FMG was 3.50 couple of months back. I wouldn`t have imagined that we will ever reach $6.00. We are this high because of Vale disaster and IO have been speculated to this high by traders but when traders unwind there bets on the IO prices the IO will go back to $70 tone range. I was following shortman for a while on FMG there is fairly high amount of shorts.
But saying that I think FMG will go past 6 at least for a couple of more days or so and will retreat back. So for my strategy is to buy when it goes down and sell it when it goes high like it reached 6.01 today
Iron ore price, page-9699
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |