What a sign of the times. This was posted 3 years ago and we are getting close to that price again. I think we may see stocks like FMG get there sometimes soon.
T
Sometimes the market can be so sadistic
I bought this stock in early August for $3.06 then sold a week odd ago for $3.00, as it appeared to be dropping off.
Within a day or two of selling it started heading up again. I got another buy signal on it a couple of days ago, but by the time I could check it out yesterday, it was already up about 6%, so I didn't buy. Today it's up another 9.4%, just closed at $3.85.
I'm sure there's some little man sitting there in the stock exchange watching what I'm doing on my computer...:
Cheers,
GP
What a sign of the times. This was posted 3 years ago and we are getting close to that price again. I think we may see stocks like FMG get there sometimes soon.
T
What a sign of the times. This was posted 3 years ago and we are getting close to that price again. I think we may see stocks like FMG get there sometimes soon.
T
"BHP BILLITON has painted a bullish view of the long-term demand for commodities but has warned that expanding iron ore supply is beginning to catch up with demand."
Silly comment!
noticed a few massive buys go in, in fact just saw one for 280k at 5.21..
and you people tell me there isn't someone on the side ready to pounce..
could it just be shorters closing their position?
gav
could it just be shorters closing their position?
gav
Iron ore prices tipped to rise 18% in 09
17-September-08 by AAP
Iron ore producers are in line for a seventh consecutive price rise despite the upheaval in financial markets and question marks over the health of the global economy, analysts say.
The big winners will include Rio Tinto Ltd and rival BHP Billiton Ltd, the world's second and third largest iron ore producers.
GoldmanSachsJBWere is predicting an 18 per cent plus price rise for Australian iron ore "fines" in the Japanese financial year starting April 1, 2009, after annual contract talks are concluded.
Demand for the steel making commodity continues to be driven by the rapid urbanisation of China and other developing nations, including India.
"Can iron ore contract prices rise at a time when spot iron ore/steel/scrap prices are all falling and global steel production growth is losing momentum?," Goldman Sachs asked in a client note.
"Our answer is "yes" - it has happened before and can happen again."
The brokerage said that the supply-demand dynamics for high quality seaborne iron ore are robust enough for the large contract suppliers - BHP Billiton, Rio Tinto and Brazil's Vale - to secure a seventh consecutive annual price rise.
BHP Billiton and Rio Tinto this year settled on a 79.88 per cent increase in the price of iron ore fines and a 96.50 per cent increase in the price of iron ore lump with Asian customers.
The rise was the sixth annual increase in contract prices for the steelmaking commodity.
BHP Billiton and Rio Tinto are progressively ramping up their operations in the Pilbara region of Western Australia to address increasing demand from China and other developing nations.
Shares in BHP Billiton dropped 75 cents to close at $35.65, while Rio Tinto lost $4.85 to $102.00.
I would like to think I would treat this stock as I would an old , past its time dog. I would take a Bucket of water out to the back garden pore it on the ground to soften the soil and start digging a hole. Once the hole was deep enough I would sit down have a drink and think of all the good times we had and probably shed a few tears then call the vet. The vet would come round with a needle and put the poor thing to sleep i would then teary eyed put it in the hole and fill it in. my belief is that this company is way past its use by date and should be gotten rid of before it totally breaks your heart and stops you getting another puppy.
Guys everything is an excuse to buy hey??
I remember seeing a couple of post here not that long ago paying out on someone because they knew nothing about the company but the share price and happily traded that way. They were so sure of other peoples methods that they can discredit them.
BUT they seem to not even have half a grasp on market mechanics.....
Google futures expiry and Arbitrage.
wat the? agro was just pointing out a big buy, and i merely suggested it could have been someone closing a short? whats wrong with that?
noticed a few massive buys go in, in fact just saw one for 280k at 5.21..
and you people tell me there isn't someone on the side ready to pounce..
Because it wasn't a big buy!!!
Its almost 100% not a directional bet at all. Have a look at every top 50 stock on the close, and watch tomorrow too. Its Expiry time all the arbs cross hands.
And even if it wasn't roll over lets say today is 3rd Sep and that big trade when through. What can you take from that???? Nothing! a large buyer bought from a large seller?? If you look at it unbiased it could of been any of 4 things in combination.
If it was a short cover buying whats to say the big seller on the other side wasn't opening a new short position??? This is the thing with such statements there is two people on either side of every trade. What you choose to think it was has nothing to do with truth but rather shows bias.... you want the shorts to cover??
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