looking for a 6 month 100% gain

I'm scratching my head at the moment. I know we had a significant drop in the IO last september, but correct me if I'm wrong, hasn't the last months average price of IO been $150? I don't believe we will see $80 again, possibly a dip to $125 but there is just as much chance it will go higher.

Now its been pointed out several times before that the last time IO prices were at these levels, SP was above $3. Since that time production has also increased significantly and production costs came down ~$5/tonne. So whats the story?

Surely if IO prices stay at these levels for the next month and prove its not just a spike, sentiment will improve immensely and I can see it hitting that $2.90-$3 mark quite easily. Any rail deal...who knows, could go up 25% overnight. I'm a buyer at these levels.