Have not got asx shorts for the 19th yet but we know the 20th another 18M was added and the 21st a whopping 23M, highest on the ASX for the day, was added. Lets assume a upward trend and just add those No to the 18th. That is an impressive 201M short positions open.
Now add to that fact that FMG is now trading at the lows of 2012 when the IO hit $87 and it FMG had huge leverage problems compared to now. IO stable at above $110 with no one seriously calling $80 in the short term. Cost level down and its capital works program coming to an end. New fiance no debt repayments till 2015 which by then will be producing 150MT with much lower cost.
Long and the short of it is FMG is oversold but with 200M short positions open. All it would take is one smart hedge fund to see a loaded gun and pull the trigger.
short postions, page-3
-
- There are more pages in this discussion • 119 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |