I won't comment on today's SP movement much, my positions are still under water. I am just happy my judgement call is slowly been justified, I believe iron ore spot price has jumped the shark.
From latest China trade data exports are decreasing significantly, imports is falling off a cliff reflecting decreasing domestic consumption.
China is experiencing significant internal wage driven inflation, so it puts the PBOC in a tight spot in loosening monetary policy.
I don't think I need to remind anyone about Greece, the debacle keeps going beyond even my expectations.
Despite the iron ore spot price holding after the Chinese new year festival, this is masking the downside risks posed by high inventory level and the low trading volume.
Beware of the downside risks
shorting fmg, page-60
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |