golden6I believe FMG has bottomed!! is in a consolidation phase...

golden6

I believe FMG has bottomed!! is in a consolidation phase right now.

One thing you can count on for sure - the mining boom will return. Will take some time, but it will return, and likely later this year.

I've taken note that, since FMG bottomed out around $1 there has been very good general buying support, over the past week very good support at $1.90.

It may fall down through 1.90 but I highly doubt it in the short term, rather, I believe we're going to see a slow, stead bull run on this stock.

Do not be surprised if the stock is trading at $13-15 in 4-5 yrs, certainly fundamentally, according to the reports FMG release, they are in a very excellent position to take advantage of the next mining boom - which will happen (sooner or later). The excessively large amount of money supplied into the worldwide financial system by the 'bailout funds' will ensure this downturn is relatively short lived.

IMO - the markets have bottomed!!! and to put my money where my mouth is, I moved my super back into 100% high growth October last year, after having moved some of it into fixed interest cash the previous November. So far both moves have proved to be correct.

so mate, don't be too worried about your FMG shares, if you are willing to hold for the medium to longer term (5-10 yrs) I have no doubts you'll make a good profit. Just depends how patient you are. Hehe when the price moves back up to $4 we'll all wonder why we didn't buy more now at these levels.

disclaimer - i hold FMG and plan on buying more as the price gradually moves up (averaging UP my entry price)