I think its overseas funds that are selling out of FMG, they also have the currency carry over to consider. Not sure they are done yet on the volumes.
Twiggy would have known big funds were about to dump so he/FMG have been buying. Mentioned previously that about 1 month ago numerous aussie funds encouraged me *and probably thousands others to buy FMG with ridiculous price targets.
Obviously these funds knew shares had to trade hands, shifting from the funds to the average trader and a story with price target issue to encourage the buy side.
Next year Mining Tax, also Carbon tax, Global economy slowing, Iron price to fall, forbid China to slow, - all this amounts to a lot of risk still on the table with regards to their Fe shipping targets.
Still watching and hope to buy in at some point
FMG Price at posting:
$4.09 Sentiment: None Disclosure: Not Held
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