I'm definitely bit experienced but I've been trying to work this out too GK.
In a situation like yesterday with IO being sold off massively I would look to make a short trade sometime in the first half an hour, there's usually a fair bit of volatility and the price will jump around a but and you may end up with a better price than open anyway.
Yesterday was very unexpected for me at least for fmg. It actually had a green day on the back of the IO drop. I think fmg may be getting to the point where it is looking very cheap and less likely to have large price drops due to IO movements.
I won't be shorting the IO stocks anytime soon now. I think they're starting to look very cheap especially fmg. So long trades only for me. I think fmg is more likely to hit 5 rather than 4 bucks
