FMG - Fortescue Ltd

[TimeISmoney]

Something's rotten in the air. Too many brokers suddenly turning bullish FMG. Plenty of publicity about it.
Insto's trying to get retail traders to buy, me thinks.

It's the typical shake the tree by Insto's, they down talked it in the first place.

 

[TimeISmoney]

Fund managers .. and brokers are turning bullish on .. Fortescue, despite the slumping iron ore price weighing heavily on the longtime ASX pariah.

Fortescue (FMG) Retained at sell at Goldman Sachs; Price Target: $15.50



Ivanhoe Mines’ (TSX: IVN) Kamoa-Kakula copper mine, the world’s third-largest, has reached stage three commercial production in the Democratic Republic of Congo (DRC), the company said Monday.
The new concentrator had previously started production just over two months ago, shortly after its construction was completed ahead of schedule at the end of May.

You'll find that a lot of it is unsustainable long term, unstable govt leaders and corruption is rife.

South Africa: Mining gathering must confront human rights violations​

For Multinationals, Africa’s Allure Is Fading​

 

[Value Collector]

Something's rotten in the air. Too many brokers suddenly turning bullish FMG. Plenty of publicity about it.
Insto's trying to get retail traders to buy, me thinks.

It’s simple, FMG’s share price is low, it’s so low it’s already factoring in iron ore prices at extremely low levels for a sustained period of time.

 

[qldfrog]

You'll find that a lot of it is unsustainable long term, unstable govt leaders and corruption is rife.

South Africa: Mining gathering must confront human rights violations​

For Multinationals, Africa’s Allure Is Fading​

my view is while yes RIO, Vale or BHP might face issue, a Chinese or Indian miner will not;
and who cares the flag flying in the headquarters, the extra IO is still going to the market

 

[Value Collector]

my view is while yes RIO, Vale or BHP might face issue, a Chinese or Indian miner will not;
and who cares the flag flying in the headquarters, the extra IO is still going to the market

The lowest cost producers are going to the winners in any commodity during the low points in the cycle, and that’s Rio, BHP and FMG and Vale in 4th place.

 

[TimeISmoney]

my view is while yes RIO, Vale or BHP might face issue, a Chinese or Indian miner will not;
and who cares the flag flying in the headquarters, the extra IO is still going to the market

Even China has had a lot of problems in Africa, the poor are fighting back with activists and their rebel armies.

The years of pillaging of 3rd world nations are just about over, people worldwide are getting more educated with the help of digital devices.

Central African Republic suspends activities of Chinese mining company​

 

[qldfrog]

Even China has had a lot of problems in Africa, the poor are fighting back with activists and their rebel armies.

The years of pillaging of 3rd world nations are just about over, people worldwide are getting more educated with the help of digital devices.

Central African Republic suspends activities of Chinese mining company​

I respect this view, in a way hope you are right but still believe Africa is under control and will remain, of corrupt/corruptible leaders and junta military.
The colour might change, they might become IS, Imam instead of "democratic" xxx but if you pinch your nose, close your eyes and pay the bribes, support the army..you can and will do business...
But not "we", them in this bipolar world of wokeness vs authoritarian pragmatism.
We saw this with nickel, oil,gas coal and iron will be next

 

[Knobby22]

I respect this view, in a way hope you are right but still believe Africa is under control and will remain, of corrupt/corruptible leaders and junta military.
The colour might change, they might become IS, Imam instead of "democratic" xxx but if you pinch your nose, close your eyes and pay the bribes, support the army..you can and will do business...
But not "we", them in this bipolar world of wokeness vs authoritarian pragmatism.
We saw this with nickel, oil,gas coal and iron will be next

I think the word is democracy vs authoritarianism. But I suppose that is wok these days.
i agree though. China and other interests will support the dictatorships and will win,

 

[Garpal Gumnut]

First time I've thought about buying this. I've become a contrarian in my old age.

I guess it is one of those "maybe it will fall further" stocks @Dona Ferentes that in retrospect one says "I shouldn't have been so greedy".

Thanks for the post. I might have a look to add more to the SMSF tomorrow.

gg

@Sean K , I went in to my broker account, my money was ready but I just couldn't bring myself to buy FMG. It is in the mamma and pappa of all downtrends on a 3 year weekly.

So I'll wait. It would be like throwing a dart. I'll probably regret it but with the world selling Fe ore for sfa and the Chinese cousins on semi-permanent smoko I feel more comfortable passing on FMG atm. I do wish the Chinese Emperor would stop being nice to everyone and get the bastards back to work and producing crap that Mr. and Mrs Ozzie Shopping-Trolley could be buying in Australia instead of working towards buying a house.

And don't get me started on Africa.

As for FMG $15 looks as if it may provide support, if not maybe $10.

gg

 

[Rabbithop]

LOL...I was going to enter at $15 but now unsure...Shld it fall to $15 today or this week..am I going to enter..mmm

 

[eskys]

A green shoot....futures up on SGX:
Contract Month

97.85

( +2.43/2.55%)

Edit: the 3 major iron ore miners are green!

They pushed them down, and....

 

[TimeISmoney]

I think you all missed the boat .

 

[eskys]

I think you all missed the boat .

View attachment 182927

You mean this morning's boat?

I sailed it downstream...board the bottom and hit a faecal pool!

 

[qldfrog]

LOL...I was going to enter at $15 but now unsure...Shld it fall to $15 today or this week..am I going to enter..mmm

I might enter at $14 $15..a small parcel...
Like the fans who saw it go from 30 to 17 will say..for the long term..or the dividends or the green dream

 

[qldfrog]

I might enter at $14 $15..a small parcel...
Like the fans who saw it go from 30 to 17 will say..for the long term..or the dividends or the green dream

And good for day trading too

 

[Garpal Gumnut]

I think you all missed the boat .

View attachment 182927

Haha.

No surprise to me. I’ve never been “lucky” with FMG.

gg

 

[TimeISmoney]

Haha.

No surprise to me. I’ve never been “lucky” with FMG.

gg

See how well it fares up after it goes ex-div, it still might drop a bit but it shows you the power Instos have.

 

[eskys]

Difficult to be lucky in everything, @Garpal Gumnut. You're lucky in gold...been wanting to ask you, but this is the wrong thread.

What's the advantage in watching gold price and gold futures? Are those buying physical gold and ETFs watching the price of gold, and traders watch the futures? Take it to the gold thread if you find it fits there better, gg, or a thread that I fail to find. Catch you guys tomorrow, Thank you.

 

[eskys]

See how well it fairs up after it goes ex-div, it still might drop a bit but it shows you the power Instos have.

The game is getting bigger; big boys playing bigger games keeping us on our toes. One misstep, we go tumbling ...have a great evening, hope it continues tomorrow.

 

[Garpal Gumnut]

Difficult to be lucky in everything, @Garpal Gumnut. You're lucky in gold...been wanting to ask you, but this is the wrong thread.

What's the advantage in watching gold price and gold futures? Are those buying physical gold and ETFs watching the price of gold, and traders watch the futures? Take it to the gold thread if you find it fits there better, gg, or a thread that I fail to find. Catch you guys tomorrow, Thank you.

Thanks @eskys . I started a thread a while ago called

https://www.aussiestockforums.com/threads/thoughts-on-trading-and-investing-garpal-gumnut.38176/

It is due for an update and I'll post on "gold and me" ( should that be "gold and I" ) !! covering your questions by this weekend at the latest. I'll mention you in the post so that you get an alert.

gg