where is io heading short term

This is form house of holes and I thought it quite reasonable seems he is a IO prophet of doom. Many have been saying $110-120 for the rest of the year as the low a few other just in recent day have been calling $130 and about 2HY. As seen in the below I think 110-120 is reasonable and very comfortable for FMG forecasts. Remember the below article is the negative view of IO.

"I’m still not convinced our little rally is over. If it’s a restock that supporting demand, even a limited one, we should expect it to run a month or so, not one week. Then again, given the deteriorating context, iron ore is still holding in very well. In the past, credit crunches have triggered price collapses. So we can probably best see the market as under two unusually strong opposing forces. With a restock preventing a rout and a credit crunch preventing a larger restock spike.

My best guess then is that we continue to bounce around between $110 and $120 for the next few weeks."