News: FMG Fortescue Metals Group says qtrly shipments of iron ore was 44.7 mln tonnes, page-18

well there we go, lower sp, will probably end in the red today, and perhaps take a minor hit tomorrow, perhaps the traders from yesterday that made near 30 cents will take profits.

as I stated a few days ago the report has not exactly shot the lights out, so what we have is a situation whereby, nothing special to see here at the moment, I did mention last month that the div would give this some support mid july, in saying that the div is still far away in the eye of the shorters, hence they will keep playing with this for a while yet.

despite the above, fmg still remains fairly solid and reasonable value around 5 bucks.

just my opinion but apart from div or some rally in Dalian futures I cant see a major catalyst that will scare the shorters away, they are still controlling this sp at the moment, like it or hate that's the way it is, best to jump on the party to avoid disappointment. and like ive said many times im not a shorter, im an options trader.

do your own due diligence.