yeah. Definitely an interesting over reaction on a lot of...

yeah. Definitely an interesting over reaction on a lot of stocks. MGT way oversold based on such a small drop in iron ore prices. I think our traders shook the tree pretty hard tricking lots to sell all the way down. I'm assuming they were picking up a lot of the shares at 3 and 3.1 today. Seemed to have got their fill by mid afternoon when the volume slowed. Anyway. Good on them I guess. They are playing their game well. We just have to realise that nothing has changed so we should bounce back pretty quick. We have dropped nearly all our gains from the last couple of months and are now back to where we were when iron ore had just pushed through the $100 mark. when you consider the dollar has dropped significantly over the last couple of days the iron ore price is probably higher then it was 2 days ago.
anyway. Happy Australia Day for tomorrow. Have a cold beverage and work out how to free up some money to load up at these prices. Once those announcements start dropping we will be laughing about how worried we were today.