domba..you can't judge one stock using "have you seen the scale of their expansion plans" as logic versus another stock using current position.
Are you aware that AGO also has expansion plans?
In the fullness of time 46mtpa?
For sheer scale FMG is a beast, but Net Debt/Equity Ratio at hovering around 100%, is my to my personal liking. Only needs another credit crunch to bring pressure back onto high debt entities.
As for pivot there is no logic when to head for the hills, what you are looking for is points where direction changes for the day.
The key idea is to look for a reversal or break.
The following link may help to explain it more simply;
