FMG - Fortescue Ltd

[prawn_86]

Bugger the shorters I say! 26% woot! All my stocks are up today and up at least 9%, makes a refreshing change too I might add.

And most of them are falling from their initial opening highs as people sell off. Its not shorters that push stocks down, its sellers in general.

 

[nunthewiser]

wonders what twiggy will blame next once its realised that shorters only short because they think a stock will fall

 

[Prospector]

People selling dont worry me, that is part and parcel of holding shares. Shorters on the other hand are playing a different game. Compounding the losses, and artificially raising the prices sometimes. USA stopped it a while ago, we didnt which is why we have suffered far more than the US in market falls.

 

[Trembling Hand]

People selling dont worry me, that is part and parcel of holding shares. Shorters on the other hand are playing a different game. Compounding the losses, and artificially raising the prices sometimes. USA stopped it a while ago, we didnt which is why we have suffered far more than the US in market falls.

Sorry Prospector but the US has only JUST stopped shorts in financials.

Not sure where you got that from.

 

[Nesa]

26.84% rise today in the green. something I really like seeing.

I do feel sorry for one person though... agro

hopefully he managed to buy back in though

 

[Prospector]

Sorry Prospector but the US has only JUST stopped shorts in financials.

Not sure where you got that from.

I was totally sure I read it over the weekend!

And did Agro get sold out? Agro, you were FMG's spirit - can you get back in? So sorry for you, the share market sucks sometimes, as the initial post on this thread started with!

 

[adobee]

I must say buying fmg was a great decision.. if regret having ever sold this stock but relish the opportunity to buy back in...

 

[renim]

i feel sorry for agro, with shorters gone fmg back up,
also what was Were's prior forecast for fmg?

 

[SenTineL]

isn't it basic investing 101 that you only realise a loss once you sold?
if you believe in the company based on research or whatever surely you would stick with them through the tough times.

 

[Prospector]

isn't it basic investing 101 that you only realise a loss once you sold?
if you believe in the company based on research or whatever surely you would stick with them through the tough times.

Agro did believe in FMG but I gather he was required to sell when the market dumped I dont think he would ever voluntarily sell FMG unless he wanted to fund his retirement.

 

[Miner]

Probably we should let Agro to complete with his or her hibernation and to rejuvinate back with aggressive buying FMG when it reaches $10

 

[fordxbt]

isn't it basic investing 101 that you only realise a loss once you sold?
if you believe in the company based on research or whatever surely you would stick with them through the tough times.

yes but a losing stock on paper is not considered legitamate collateral by the bank when margin calls are made

 

[Trembling Hand]

isn't it basic investing 101 that you only realise a loss once you sold?
if you believe in the company based on research or whatever surely you would stick with them through the tough times.

It seems so for retail traders who are in denial but thats it. Everyone else uses market to market valuation. Thats basic investing 101.

 

[SenTineL]

the way i read it is that nothing fundamentaly has changed with FMG except for the reserves increase so yeah the market is on a down turn and all companies are affected but should bounce back long term.

about 6 months ago i got out from BBP at $2.50 because I saw a major catastrophe in the making. whilst i lost a little money it could have been worse and almost lost the lot as it's now at $0.11.

back on topic though i can't see anything like this happening to FMG

 

[renim]

fundamental for fmg
aussie dollar back down (bad for purchases, good for sales)
rio tinto now less than bhp take-over offer
sino-steel progressing in the geraldton?
fmg reduces project scope, aims for internal funding

 

[larrikin]

fundamental for fmg
aussie dollar back down (bad for purchases, good for sales)
rio tinto now less than bhp take-over offer
sino-steel progressing in the geraldton?
fmg reduces project scope, aims for internal funding

Hi Renim (and everyone else)

Could you please elaborate upon "FMG reduces project scope." I have read that because of the current economic climate that it is difficult to get lending from banks but I dont know anything about FMG reducing their project scope.

Thanks in advance!
P.S Im aware that im quickly becoming the annoying person on this forum who asks a lot of questions but no comments to add

 

[spottygoose]

Fortescue wins court case against BHP, Rio
September 24, 2008 - 10:40AM

The High Court has ruled mining giants BHP Billiton and Rio Tinto must share their Australian iron ore rail networks with other miners.

The ruling is a victory for new miner Fortescue Metals, which has battled through the courts and competition regulators to be able to use the rail lines to transport its ore to the nearest port.

"The High Court unanimously dismissed the appeals (of BHP). It held that the subject of Fortescue's application answered the description of a service provided by the use of an infrastructure facility such as a railway line,'' the High Court said in a statement.

 

[agro]

you wouldn't beleive how much i am kicking myself now lol

trading halt btw - think its to do with the rail

think i may have to budge and just buy regardless

 

[Gspot]

Buy BRM instead, given their sp, locality to rail, deposit size, cash account and ridiculously low SP. IMO of course.

 

[Miner]

you wouldn't beleive how much i am kicking myself now lol

trading halt btw - think its to do with the rail

think i may have to budge and just buy regardless

Hi Agro

Never mind the time will come again to build up the stock . It is just begining and surely you would probably have last laugh

But I could not see the TRADING HALT ? Did you mean FMG's trading halt ?
No reference there in ASX . Could you please spell some light ?

http://asx.com.au/asx/research/Comp...panyName=&principalActivity=&industryGroup=NO