probably another bad day for all stocks on Wednesday
US stock futures dip on credit woes08 Jul 2008 | Reuters
US stock futures fell on Tuesday, putting Wall Street on course to extend a global sell-off fuelled by fears the financial services sector could be hit by further credit losses, jeopardizing economic growth and profits.
Woh what a relief to see contrary to what Reuters reported (probably wrongly printed for Tuesday and should have been for Monday market - not me as I only quoted ) the DJ rose up on Tuesday. Hangsang however declined severely.
If I punt the market should be up at ASX to start with but certainly be volatile for FMG and DMM - not good . We need some stability from this roller coaster
In Commsec as I could see for today there are more sellers for FMG than buyers
those selling will inevitable buy back, unless they find a better stock..
it would be interesting to see these peoples rationales for selling... this stock once earnings announced will rocket.. has too many good things (dividend, cazaly 200bn if they win that) to come imo..
i spose people don't like uncertainty and would not rather wait a couple of weeks for the market to settle down ..
Agro-how are u buddy?
is that not the topic lately-
this is what i am getting from the people i know-
they are selling because they are scared-
they are not professional traders just young timers-
it seems whatever i tell them to stick it out-the media is controlling them by feeding them bulldust-
i tell them what goes up must come down and u have to live with that-
thats the name of the game- i get the answer that i am off my head-
i mean-my dad as been loving the fall-he is a bargin hunter-
he has bought over 7500 units in fmg in the last week or so-
dads having to deal with becoming a holder for once in his life-
i am on the edge also- i am thinking of lowering my stop as i know ( u know what i mean) it will come around-
the magic question is when-
how u been away?
Happy trading people lets have a good week-whats lefted of it-
Thanks
Nick--
China to shut factories ahead of Olympics
(Reuters)
Updated: 2008-07-07 09:53
Counter:90
Authorities in Tangshan, an industrial city in Hebei province north of Beijing, have ordered 267 firms to shut down operations by July 8 to improve air quality ahead of the Olympics, government and industry sources said on Friday.
The firms include 66 steelmakers, as well as coke plants, cement firms and small power generators, a government official in Tangshan said.
The companies would have to undergo strict environmental protection checks before they could resume production at an unspecified date, the sources said.
Beijing has been shrouded in thick smog this week, with buildings just a few hundred feet away barely visible -- the kind of air quality that would embarrass the authorities and potentially disrupt sporting events during the Olympics in August.
The Tangshan firms ordered to halt production were small ones, and their impact on Hebei's steel industry, which accounts for about 20 percent of steel production capacity in China, would not be significant, analysts said.
"It is hard to estimate how much steel production capacity would be shut down because most of the firms are very small ones," said Hu Yanping, a steel sector analyst with industry portal Umetal.com.
What about this little story:
there is a restrictive term in the company's 2006 bond issue that limits the company's iron ore expansion in the short term. A growth that is very crucial at moment because of the good ore prices etc.
FMG is trying to come up with a way to beat this because the bond holders have influence in what the company is doing as they had some targets locked in for their bond grading (from 'B' to 'BBB' - and they are a couple of months off). And until this is attained there is no much the company can do. There are other avenues ofcoz but at the moment:
The company is considering a demerger then spin off some assets to the new company in order to expand as rapidly as they want to take advantage of good iron ore prices.
They have registered another company name...West Pilbara Iron Ltd: with mining concentrated in the west side of the the pilbara project. I think this will directly impact on FMG SP and dividend yield in future if it goes through.....several scenarios!!!
Experts where you at....???
That's the same article I posted on July 3rd pg39 of this thread (post #3)What about this little story:
there is a restrictive term in the company's 2006 bond issue that limits the company's iron ore expansion in the short term. A growth that is very crucial at moment because of the good ore prices etc.
FMG is trying to come up with a way to beat this because the bond holders have influence in what the company is doing as they had some targets locked in for their bond grading (from 'B' to 'BBB' - and they are a couple of months off). And until this is attained there is no much the company can do. There are other avenues ofcoz but at the moment:
The company is considering a demerger then spin off some assets to the new company in order to expand as rapidly as they want to take advantage of good iron ore prices.
They have registered another company name...West Pilbara Iron Ltd: with mining concentrated in the west side of the the pilbara project. I think this will directly impact on FMG SP and dividend yield in future if it goes through.....several scenarios!!!
Experts where you at....???
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