FMG 0.45% $22.10 fortescue ltd

somethings up..... yeah, the share price, page-18

  1. 6,609 Posts.
    Jackson, my call would be a retest but not of the uber lows. However, when you get it wrong on FMG you really get it wrong. It is the type of stock that could be $5.50 or 3.50 next week. Good luck.

    I bought last week at 4.60 and then had to wait three days for a recovery to 4.68. It then sank to 3.96 before a recovery to 4.90. I rode all the way from around 4.00 to 4.78 before bailing 2/3. I bailed because it was late on a Friday and I couldn't see more = wrong.

    This was a short covering rally coupled with a too low low. From here I doubt the shorters will be as nervous as Thurs/Fri thus less demand but what will supply do?
 
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