quarterly production report, page-21

The longs start chirping, right on cue. I'm starting to get used to this!

Solid quarterly today from FMG. Nothing overly unexpected, not much has changed since 4.25, I don't know why everyone's getting all excited; it's not like the ann revealed a surprise we didn't know about - it just confirmed the mining targets we all expected to be achieved. Also a mild surprise from China didn't do any harm at all to the SP.

Up nearly 4%, but didn't close at the daily highs. SP was already up 2.5% before the ann/china GDP figures came out, so one could ask that if these positive factors only increased the SP by 1.5% how much short-term confidence does that really warrant? Could it be that the market didn't really care about FMG, it was propped up by the XJO's huge spike today? How much would FMG have risen on these factors if the XJO was dead flat today?

All I'm trying to say is, if I was a long, I'd want to carefully examine the price action over the coming weeks before getting too excited, praising the management as deities and envisioning multibaggers. Just sayin'.

"hey isplicer lol"

Stockie.. is that really necessary mate? What are you, seven years old?

"People just don't seem to understand the management and culture at FMG, want to continue doubting them..."

I honestly don't care about the management and culture. I don't care about what brand of refrigerators they use in their cafeterias, nor do I care about the wine they drink in their parties. Everything I need to know about how strong or weak the company has been over the past three months is present in the chart. By the way, 'culture'? Seriously? What are you, the company HR secretary?

I'll go out on a limb here and say that BHP and RIO are more successful companies than FMG. Wait.. did I need to really go out on a limb for that one? Glass towers seem to be working fine for them.

"Darn, FMG has delivered again."

It has. FMG has always been and always will be a quality stock, but it hasn't delivered anything that we didn't expect it to deliver.

"I've been waiting patiently for FMG to begin its next climb. Broker Golden Sacks has now come around, and is recommending FMG with $6.14 target. "

Bell Potter rated FMG as $9+ when it was $5+. Didn't stop it from plunging to the low 4's. I'll take those broker reports with a grain of salt. All eyes on the 155 Mtpa target, THAT'S what'll REALLY cook the SP upwards.

The moment FMG shows strength when presented with a worrying Euro announcement, that's when I'll bow my head down to stockie and go long without a word. Not when FMG responds with a 1.5% rally when presented with a reasonably sound quarterly AND a surprise increase in Chinese GDP figures.