You know I sometimes think fundies in cahoots with brokers know stuff we don't know.
It could be something to do with the economic cycle. I have looked at the ASX chart and notice we have broken out of a long term trend.
The question is...is it based on fundamentals?
Over the last couple of month a lot of minerals that go into making steel such as maganese, coking coal, and nickel have dropped markedly. I wouldn't mind betting that the outcome of the iron ore negotiations with Japan will be a lower price than last year, maybe a lot lower. I have consequently been dicing with the idea of selling BHP and RIO, the companies which I have made some real money.
It just seems obvious to me...lower nickel price, lower coking coal price, lower manganese price. Probably lower iron ore price. What do you think?
I reckon general market analysts are telling there funds this and getting them to sell down while brokers are recommending clients buy to keep the price up.
I hope I am wrong.
- Forums
- ASX - By Stock
- CSM
- under $3..
CSM
cosmo gold limited
under $3.. , page-4
Currently unlisted. Proposed listing date: TBA
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)