FMG - Fortescue Ltd

agro · 3 June 2008

njc.corp said:
Argo-like to see all is good-

log on at the end of the day to see not a bad day-

as a basic trader- i been writing things on paper-

since i am no expert-i have noticed in my notes that this stock does not go along the same lines as bhp and rio-

it happen today and also last wed or thur-

i have also noticed through my notes that this stock got a good daily range of .25-.32 but it has change lately to about .33-to a high of .39-.40-

so i like the range as u can tell-

Argo-since i said i was a basic trader-could u put in english into what u mean by todays volume-

would rather look silly then not know what u mean-

Happy trading people

Thanks

Nick--(melb)

well i have been always led to beleive, a fall in BHP or RIO = a gain in FMG price

vicea versa... usually when BHP or RIO takes spotlight (as with merger discussions etc) , FMG price drops..

as far as volume, this just indicates that a greater demand for the stock (more people buying in greater amounts) is what pushing the price higher and is a very bullish indicator

on a down day, usually the volume is a bit lighter one would hope (not many selling out)

and as far as daily range, when the price is more expensive (e.g. $11 as opposed to $6, it moves according to percentage, so example = 10% when its at $11 = 1.10, whereas at $6 10% is .60) so naturally, greater the price = greater the amount it can go up or go down

hope that clarifys your q

agro

njc.corp · 3 June 2008

agro said:
well i have been always led to beleive, a fall in BHP or RIO = a gain in FMG price

vicea versa... usually when BHP or RIO takes spotlight (as with merger discussions etc) , FMG price drops..

as far as volume, this just indicates that a greater demand for the stock (more people buying in greater amounts) is what pushing the price higher and is a very bullish indicator

on a down day, usually the volume is a bit lighter one would hope (not many selling out)

and as far as daily range, when the price is more expensive (e.g. $11 as opposed to $6, it moves according to percentage, so example = 10% when its at $11 = 1.10, whereas at $6 10% is .60) so naturally, greater the price = greater the amount it can go up or go down

hope that clarifys your q

agro

Thanks for the quick reply-

i thought so-but i could have been wrong-

so thanks for clearing it up-

Happy trading people-

Thanks

Nick--(melb)

agro · 4 June 2008

i would not be least concerned with the drop in share price by FMG today,

it was expected and most likely attributable to some profit taking..

history shows by the graph that with a big drop comes a big retrace to all time highs

for those who bought near highs, ur best bet is to hold unless u have already exercised your stop loss which may be another reason which caused a further tumble in price

cheers

barnz2k · 4 June 2008

seems that every time I plan on buying/selling a share but dont follow through, I miss a decent move in price, then when I act on it slightly later, It moves in the wrong direction! lol.
Plan to hold FMG for a while anyways, all my miners down today anyways, not just FMG.

btw nick, i wrote about my buying price incase you miss it, its at bottom of last page, it snuck between agro and your post

njc.corp · 4 June 2008

barnz2k said:
seems that every time I plan on buying/selling a share but dont follow through, I miss a decent move in price, then when I act on it slightly later, It moves in the wrong direction! lol.
Plan to hold FMG for a while anyways, all my miners down today anyways, not just FMG.

btw nick, i wrote about my buying price incase you miss it, its at bottom of last page, it snuck between agro and your post

Sorry mate-just saw it now-

argo-well the way i see it is its been going up and up a down was going to happen 100%-and todays was a decent drop- i did get some more in today-

Thanks

Nick--

rob · 4 June 2008

agro said:
here at aussie stock forums we are more happy to provide any information we have

the more you know about a company, the better are your decisions on deciding whether to keep it or hold it..

obviously, sinosteel has done their homework and has decided to get a 2.2bn stake in FMG - again, the chinese know where to place their money

they look to the future, not to the present

Like I said in the first place I am commited and believe that fortescue will continue to grow and continue their pregress still up 14% from last week. There would of been a lot of stop losses that would make it interesting to see how many will try and buy back in. Who says we cant make another 400% this year, heres looking at you kid.

gav · 5 June 2008

cant believe that after hitting $12 less than 48hrs ago, it was at $10.01 just before. yesterday and today have wiped off 2/3 of my profit

agro · 5 June 2008

gav said:
cant believe that after hitting $12 less than 48hrs ago, it was at $10.01 just before. yesterday and today have wiped off 2/3 of my profit

depends whether you are looking at a short term perspective or taking a long term approach

if it is the latter, then the price you paid for FMG is rather cheap,

brokers are estimating $15 for it

gav · 5 June 2008

Thanks agro, i am in it for the long haul. I am very new to this, FMG was my first shares purchase just a few weeks ago at 9.30.

estimating $15? is that what they believe its worth now, or what they think FMG will be at at the end of the yr?

njc.corp · 5 June 2008

gav said:
cant believe that after hitting $12 less than 48hrs ago, it was at $10.01 just before. yesterday and today have wiped off 2/3 of my profit

Thats the name of the game- oh how quick things can change-

the name of the game is what u are willing to cop on the chin-

all in all-everything on my screen as of 10.15 am today was red-so its not that bad-

2 days of ups and 2 days of downs-pretty even in my eye's

i want to buy more but i cant brake the egg in the basket rule-

will c how she pans out today-early days imo-
Thanks

Nick--

prawn_86 · 5 June 2008

rob said:
Who says we cant make another 400% this year, heres looking at you kid.

Just to put it in perspective.

If FMG rose by 400% again this year they would be almost the same size as Rio Tinto...

njc.corp · 5 June 2008

prawn_86 said:
Just to put it in perspective.

If FMG rose by 400% again this year they would be almost the same size as Rio Tinto...

prawn how u work that one out?--not having a go-

just say going by todays low-10.00+400%=$50.00-thats $80-90 off rio-

maybe i am getting it wrong-

or u including the 10/1 split-+400%

Thanks

Nick--

prawn_86 · 5 June 2008

njc.corp said:
prawn how u work that one out?--not having a go-

just say going by todays low-10.00+400%=$50.00-thats $80-90 off rio-

maybe i am getting it wrong-

or u including the 10/1 split-+400%

Thanks

Nick--

Look at the market caps.

FMG approx 30bill (4x this = $120 bill)

RIO approx 150bill (from memory)

Its the market cap people should care about, not the actual share price

njc.corp · 5 June 2008

prawn_86 said:
Look at the market caps.

FMG approx 30bill (4x this = $120 bill)

RIO approx 150bill (from memory)

Its the market cap people should care about, not the actual share price

Thanks

well i never looked at it from that point of view call me silly -its never crossed my mind-

Thanks

Nick--

Miner · 5 June 2008

agro said:
depends whether you are looking at a short term perspective or taking a long term approach

if it is the latter, then the price you paid for FMG is rather cheap,

brokers are estimating $15 for it

Hi Agro

YOu have been absolutely bullish on FMG and hats off to you and FMG success;

Could you please give some light on which brokers estimated 15 dollars target for FMG ?

Regards

diliff · 6 June 2008

WTF is going on with FMG?? Everyone is freaking out at the moment. Including me, I'm down $10k in the last week on it... what an awful time to invest.

agro · 6 June 2008

Miner said:
Hi Agro

YOu have been absolutely bullish on FMG and hats off to you and FMG success;

Could you please give some light on which brokers estimated 15 dollars target for FMG ?

Regards

hi,

thanks and I continue to remain bullish on FMG regardless of the short term voltaility it experiences.. iron ore prices set to rise again next year, and if the chinese are buying that should give you an indication ..

what is happening today and yesterday (e.g. slump in share price) is nothing new and should be expected considering the rise it has, no doubt will it be back to 52 week highs, the chart shows that with every major new 52 week high comes a retraction following by a new high.

at the moment, the resources are being sold of for financial as far as i am aware..

if you are going long on FMG (as i am) i would just switch the computer off, stop procrastinating, go for a walk and calm down,

it was noted that those who panic sold back in the January correction were the losers - those who bought up are the real winners,

just sit put.. better a paper loss than a guaranteed loss.

cheers

edit - broker was on Sky Business Channel, last week, think it may have been TD securities but i never paid much attention to the broker who says it, they are all in the same game

Miner · 6 June 2008

agro said:
hi,

thanks and I continue to remain bullish on FMG regardless of the short term xxxxx

if you are going long on FMG (as i am) i would just switch the computer off, stop procrastinating, go for a walk and calm down,

it was noted that those who panic sold back in the January correction were the losers - those who bought up are the real winners,

just sit put.. better a paper loss than a guaranteed loss.

cheers

edit - broker was on Sky Business Channel, last week, think it may have been TD securities but i never paid much attention to the broker who says it, they are all in the same game

Thank you Agro for such a comprehensive response.
BTW how can I switch off computer to miss all your and others nice postings

Have a great weekend and thanks again

njc.corp · 6 June 2008

better trading next week fella's

argo hit's the nail on the head-

so in today's view-today was cheap if u looking for a bargin-well in my eye's-even though i did not buy as i am full with this--

someone asked last week if fmg would see under $10.00 well it did so i hope they got on-

This stock is like petrol price's at the moment

Happy weekend people

Thanks

Nick--(melb)

barnz2k · 6 June 2008

njc.corp said:
someone asked last week if fmg would see under $10.00 well it did so i hope they got on-

That was me, unfortunately Id already bought in 3days ago at a lot higher price, but oh well in for the long haul too.

FMG - Fortescue Ltd

agro

njc.corp

agro

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njc.corp

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gav

agro

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njc.corp

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