So many different thoughts on this, and in true trader style I could hedge my bets. But I won't.
My take does depend on the iron ore price, cause it seems to be the glimmer of hope in a dark world. But I see that stabilising at the moment and we will stabilise with that, as you say Paul.
But I think gentle gains up to the dollar, and beyond.
The creep, pullback is my thought, on the trading format, but I recon it could happen as soon as this week. Especially since the order book is 16% up, but profits could still be down on that. The half year will tell.
By the half year announcement in September (I think it is), I would think we would be in the vacinity of 1.40 - 1.70. Only because I recon we are still very undervalued, and with a successful sale of uk assets will write off a bit of debt and make the bottom line look a whole lot healthier.
I am an optimist when it comes to my money though.. And have been wrong many many times before.
All depending on the suitors who are still interested. Could be $2 by agm??
Gltah.
Just as a side note to any others that are learning as they go..
I was reading something on the FMG page a week or so ago, about some in the media talking stuff down due to the nature of their shorts, and in my trusting nature didn't make the connection between the big hedge funds talking down companies (and being quoted in these stories) and the trading they were doing..
And now with my eyes wide open its interesting to read about China, and the iron ore price, and see who is quoted as saying prices are dropping, and read between the lines to see who is shorting..
