Australian (ASX) Stock Market Forum

FMG - Fortescue Ltd

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From a charting perspective its following the rules, a run back up to just over $11 possible.
FMGIMU instalment warrant is an excellent short term instrument on this stock.

Just my :2twocents
 

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As a totally new investor (3 months young) it's hard not to be disturbed by the volatility of FMG. I have watched as it has gone from $9 a share to nearly $13 a share, then back down to $8.80 a share.... it's a real rollercoaster. I am struggling to understand why it has dipped so dramatically over the last few days, whether it's being short sold, or just natural price movements... can anyone say adamantly what is happening to drive the price down, and if they expect it to reach the $13 mark?

BTW, I understand WHY shortselling occurs, if it IS short selling, but I cannot understand the ethics behind it.... it seems on the face of it a rather unethical practice. Amongst ethical investors, is short selling considered a legitimate strategy?
 
hollowpoint said:
As a totally new investor (3 months young) it's hard not to be disturbed by the volatility of FMG. I have watched as it has gone from $9 a share to nearly $13 a share, then back down to $8.80 a share.... it's a real rollercoaster. I am struggling to understand why it has dipped so dramatically over the last few days, whether it's being short sold, or just natural price movements... can anyone say adamantly what is happening to drive the price down, and if they expect it to reach the $13 mark?

BTW, I understand WHY shortselling occurs, if it IS short selling, but I cannot understand the ethics behind it.... it seems on the face of it a rather unethical practice. Amongst ethical investors, is short selling considered a legitimate strategy?
Click to expand...

i mean we are in bad times-put the thought of stocks out for a minute-

the market is choppy-the % is low on who is doing well-

it is choppy out their-and u have to take that with the good-

if u dont like choppy waters-u should be on the sidelines like many others-

$13.00 why not- its been their before- but the magic ? is when-

well i dont know-someone mention would we ever see $8-$9.00 again-why not we are here now-


will we see lower prices in fmg- why not?
theirs is so much bad news out their at the moment about the market-

life goes on- its always going to happen-

as a holder-been for a while its not looking good--meaning the ups and downs-but i must admit i am not upset at all as i was happy when we were up their-

Thanks

Nick--
 
bit of relief for all FMG holders with the stock finishing in the green +11 cents for the first time in a few weeks :cool:

lets hope this is the beginning for the next leg up as is typical FMG nature shown by the graph
 
Well I almost topped up in the past few days, ALMOST. I had a price set for which I would buy more at, but it didnt quite get there. Well at least I know that when I have a set plan, I have the discipline to stick to it.

And we had a good day to end the week. :)
 
gav said:
Well I almost topped up in the past few days, ALMOST. I had a price set for which I would buy more at, but it didnt quite get there. Well at least I know that when I have a set plan, I have the discipline to stick to it.

And we had a good day to end the week. :)
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well gav, all I can say is that the people who stuck to FMG since 30june had a great day to end the week ;) - now for about 4 more !.
 
What a relief to see it jump nearly 9% here in the States. I have 12,000 shares that I bought back in December 07' at $5.77, so I can't really complain, but it takes some time to get accustomed to the volatility of this stock. Maybe next time it touches $12 I'll sell, then wait for another sizable dip and buy back in.
 
Will this rollercoaster ever end??? :banghead: :rolleyes:

FMG really looked poised for a big gain this week looking at the charts.. what happened? The rest of the big miners barely moved south at all.
 
diliff said:
Will this rollercoaster ever end??? :banghead: :rolleyes:

FMG really looked poised for a big gain this week looking at the charts.. what happened? The rest of the big miners barely moved south at all.
Click to expand...

My point of view is not for a while-

it seems lately that everyday has got its ups and down-

and in todays market nearly everything that i have looked at is choppy-

so if trading in these times i see 3- things-

1-ride it out

2-bargin buying-

3-stand aside-

thats the way i am seeing it from my angle-but on a other note other materials stock are just like fmg-

even bhp and rio are having a rocky day-

so its also good to see others not doing so well-

Thanks

Nick--
 
njc.corp said:
but on a other note other materials stock are just like fmg-

even bhp and rio are having a rocky day-

so its also good to see others not doing so well-

Thanks

Nick--
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I don't know about that. BHP is down 1%, FMG was, at the time of my post, down almost 9%. Bit of a difference! Recovered slightly but more volatile by a factor of 10!
 
diliff said:
I don't know about that. BHP is down 1%, FMG was, at the time of my post, down almost 9%. Bit of a difference! Recovered slightly but more volatile by a factor of 10!
Click to expand...

if u want to get technical-yes bhp 0.99% and rio 1.975%

but its been like that for a couple of sessions-

for what its worth-on a basic level

Thanks

Nick--
 
I still don't see why people compare BHP and FMG?

Iron ore is the only thing they have in common:confused:
 
Go Nuke said:
I still don't see why people compare BHP and FMG?

Iron ore is the only thing they have in common:confused:
Click to expand...

I suppose simply because of the iron ore connection. If iron ore prices rise/fall, the iron ore miners do too, although obviously BHP does far more than just iron ore...

FMG is pretty unique though really, so what else is there to compare it to? Is there another ASX stock as volatile lately as FMG with equivalent market capitalisation? If there is I'm not aware of it!
 
diliff said:
FMG really looked poised for a big gain this week looking at the charts..
Click to expand...

How so?

FMG made a lower low, RSI showed a negative divergence on it's last foray to it's latest peak.

Some good support around the $8.50-$8.75, but below that, watch out.......?

Could be forming a H&S now.

Looks like it is ready to trend sideways to me.

:2twocents
 
njc.corp said:
My point of view is not for a while-

it seems lately that everyday has got its ups and down-

and in todays market nearly everything that i have looked at is choppy-

so if trading in these times i see 3- things-

1-ride it out

2-bargin buying-

3-stand aside-

thats the way i am seeing it from my angle-but on a other note other materials stock are just like fmg-

even bhp and rio are having a rocky day-

so its also good to see others not doing so well-

Thanks

Nick--
Click to expand...


yes, until the market settles down , don't expect miracles to happen - with FMG or the majority of stocks, remember FMG is doing quiet well on a YTD basis up some 300%, if you can achieve that every year your laughing

remember we are in bear market territory, so one has to wait until the market starts rallying before real profits can be made imo,

unless of course u r a skilled trader
 
FMG $8.88..... yeah, great.... this is starting to be a real dog of an investment... everyone says but wait, it will come back up, but it just goes straight back down again...
 
hollowpoint said:
FMG $8.88..... yeah, great.... this is starting to be a real dog of an investment... everyone says but wait, it will come back up, but it just goes straight back down again...
Click to expand...

Are u investing on the what everyone say's?

are u one of those people who want's to make a million dollars over night-

do u think its a cheap investment or a stay away stock-

simple basic's say its pretty cheap at the moment from where we were-(base on what i thought)

what do u think?

could u go into a bit more on what u mean by this is a dog of a investment-

Thanks

Nick--
 

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