FMG - Fortescue Ltd

[sanj]

hmm the futures are up both in the US and Europe so I would assume our market will continue to dance with the music.(US announcement tomorow of 250 Bil bank plan). As for FMG i also think the price will continue but at a slower rise....posibly consolidating at a support level where i think it may stay stangnet +/-30cents....i see a consoldiating period of about $5ish...this is just my personal thought...no maths to back that statement up however im sure many would agree.

My question i wanted to raise is ...does anybody else have a sneeky feeling there is a possibility of a large chinese steel company buying up cheap stock ...or the CIC for example. I say this because the buying today was very bullish and it held relativly strong without too many fluctuations downwards for a breather.

If FMG is as important as they say to China I thought it may be a worthy thought...correct me if im wrong but wasnt twiggy trying to sell his stake in some part to the chinese when it was at peak prices.

Only trying to see raise a possible thought

 

[cruise61]

Fortescue ``is very well positioned for Chinese iron ore demand and while there may well be startup risks, particularly if the Asian economies turn down, we do believe that Fortescue is strategically well positioned and valuable to both customers and peer mining companies,'' Goldman Sachs JBWere Pty analysts led by Neil Goodwill, who have a `Buy' recommendation on the stock and a 12-month price target of A$7.40, said in a note to clients dated yesterday.

Link to article
http://www.bloomberg.com/apps/news?pid=20601081&sid=asom14pJN0q0&refer=australia:D:D

 

[Kauri]

Fortescue ``is very well positioned for Chinese iron ore demand and while there may well be startup risks, particularly if the Asian economies turn down, we do believe that Fortescue is strategically well positioned and valuable to both customers and peer mining companies,'' Goldman Sachs JBWere Pty analysts led by Neil Goodwill, who have a `Buy' recommendation on the stock and a 12-month price target of A$7.40, said in a note to clients dated yesterday.

Link to article
http://www.bloomberg.com/apps/news?pid=20601081&sid=asom14pJN0q0&refer=australia:D:D

Goldman Sachs JBWere and/or its affiliates beneficially owned 1% or more of a class of equity securities of the company or trust as of the end of the week immediately preceding the publication date of this report.

Goldman Sachs JBWere and/or its affiliates have managed or co-managed a public offering of securities of the company or its affiliates in the past 12 months.

What they?? don't seem to reckon is important enough to attach...

Cheers
..........Kauri

 

[cruise61]

Goldman Sachs JBWere and/or its affiliates beneficially owned 1% or more of a class of equity securities of the company or trust as of the end of the week immediately preceding the publication date of this report.

Goldman Sachs JBWere and/or its affiliates have managed or co-managed a public offering of securities of the company or its affiliates in the past 12 months.

What they?? don't seem to reckon is important enough to attach...

Cheers
..........Kauri

Not sure where you got that info from??

If they have then they are on the right track.

If i knew a stock was a good option i would certainly buy it isnt that why we are here ?

 

[rub92me]

Not sure where you got that info from??

If they have then they are on the right track.

If i knew a stock was a good option i would certainly buy it isnt that why we are here ?

What kauri was trying to point out is that, similar to a recent phenomenon we've seen in this thread, GSJBW analysts' promotion of the stock could be more driven by a desire to profit from their holding, i.e. hope driven, rather than fact/risk management driven.

 

[Sean K]

What kauri was trying to point out is that, similar to a recent phenomenon we've seen in this thread, GSJBW analysts' promotion of the stock could be more driven by a desire to profit from their holding, i.e. hope driven, rather than fact/risk management driven.

And, extrapolate that to any person holding shares in this company posting anywhere else in the globe.

It's quite absolutely, blindingly, positively, obvious, isn't it?



But, someone will be sucked in.....

Perhaps less so here.

 

[treefrog]

support at yesterday's open (350) held nicely but coming back again now to retest - quite a few cued up at that 350 line - guess the psyche is that if you missed yesterday but can get at yest. open, that is good.
open 4.25, now 3.50 - heading back to that chinaman with the checkbook at 2.50

 

[cruise61]

support at yesterday's open (350) held nicely but coming back again now to retest - quite a few cued up at that 350 line - guess the psyche is that if you missed yesterday but can get at yest. open, that is good.
open 4.25, now 3.50 - heading back to that chinaman with the checkbook at 2.50

Hey Frog
Yes could be a bit of a haul back up from here

Hard to say how far FMG will drop or even if it will.

Rio's report today doesnt read stress to much. but to me alot is still talk.

http://www.businessspectator.com.au...-will-affect-Chinese-expor-KF6SC?OpenDocument

All world markets have been hit hard thanx to the good ol USA but alas weve been down here before and us long termers will come out okay .

But must admit was good to make a fast buck yesterday

Never know if it gets to 2.50 again we might have round 2

 

[adobee]

Are there not a number of steel makers who are major share holders in FMG, would it not be in there interest to keep buying from FMG keeping it in good stead rather than cutting back.. They would want FMG to suceed because they own shares and to have a second player aside from BHP & Rio.. at current $ price wouldnt this be good for FMG..

 

[treefrog]

Are there not a number of steel makers who are major share holders in FMG, would it not be in there interest to keep buying from FMG keeping it in good stead rather than cutting back.. They would want FMG to suceed because they own shares and to have a second player aside from BHP & Rio.. at current $ price wouldnt this be good for FMG..

heck adobee, if they buy more than they need, what would they do with it? make steel they can't sell?
but yes being shareholders they will obviously look after FMG as best they can but their own best interests will be their priority not fmg's even if they are shareholders

 

[Prospector]

Oh God, that will teach me. I had an unfilled buy order for FMG and forgot all about it - for 3.10. I didnt think about cancelling it as I thought it would never dip so low again after the 55% rise. This morning I had a little panic when I saw the order go through...... But I see now I just made $600! hm, sweet! So I guess I didnt learn me lesson after all!

 

[agro]

Oh God, that will teach me. I had an unfilled buy order for FMG and forgot all about it - for 3.10. I didnt think about cancelling it as I thought it would never dip so low again after the 55% rise. This morning I had a little panic when I saw the order go through...... But I see now I just made $600! hm, sweet! So I guess I didnt learn me lesson after all!

so are you back in Prospector?

that's alright... r u going long?

you prob got it cheaper than what you paid for it last year i am guessing

 

[Prospector]

hey Agro, I got back in a few days ago in a different entity which is my SMSF (therefore long); I also trade in our Company as a trader, and sometimes personally too. I just sold the batch I 'acquired' today for a profit, because it immediately fell back 9% on the day but still above what I bought them for. Must have been a blip in time being in the green! So will keep the Super fund ones for a while. But much reduced now.

 

[Miner]

Where is Agro ? the great believer of FMG - we are missing you my friend in this forum for some good time .

On serious matter FMG expansion to 90 MTPA is accepting a reality of its capacity and capability and market sentiment

Disclosure : Still holding FMG bought at $7 - just loving them to be a pepper corn value

 

[agro]

Where is Agro ? the great believer of FMG - we are missing you my friend in this forum for some good time .

On serious matter FMG expansion to 90 MTPA is accepting a reality of its capacity and capability and market sentiment

Disclosure : Still holding FMG bought at $7 - just loving them to be a pepper corn value

Hey Miner, I am back in action mate - bring back some life to this thread

I managed to buy back in lower than I had bought from last year

you could lower your average Miner if you bought at $7? i know a few people doing that..

I also got it tucked in my SMSF, so going long on it,

I would bet my bottom dollar than OZL (Oz Minerals) and FMG may merge one day based on a few directors going to them

wait and c

 

[oldblue]

Hey Miner, I am back in action mate - bring back some life to this thread

I managed to buy back in lower than I had bought from last year

you could lower your average Miner if you bought at $7? i know a few people doing that..

I also got it tucked in my SMSF, so going long on it,

I would bet my bottom dollar than OZL (Oz Minerals) and FMG may merge one day based on a few directors going to them

wait and c

I'm not sure I'd be betting on that.
The small size of the pool of experienced directors of mining companies means that we see a lot of overlaps, especially following a big merger such as ZFX/OXR.
David Humann, chairman of MCR is also a director of Territory Resources and the late lamented Monarch Gold but I don't see either of them merging with MCR.

I could be wrong.

 

[nunthewiser]

um call me silly but didnt hegarty LEAVE OZL already ? didnt he have a lil tiff over the NEW OZL cutting his bonus off ?? oh dear amazing what ya read

 

[nunthewiser]

ooops my apologies i forgot about the "dont let the facts get in the way of a good story" ideaology in this thread at times ..........will behave and just nod head from now on

cheers
a nun in a tinfoil hat

 

[Frankhalo]

um call me silly but didnt hegarty LEAVE OZL already ? didnt he have a lil tiff over the NEW OZL cutting his bonus off ?? oh dear amazing what ya read

Looks like the bonus at FMG might be a little more attractive Nun old boy. Read good things about the chap so time will tell, I'm sure MGX would love to have his services.

 

[nunthewiser]

Looks like the bonus at FMG might be a little more attractive Nun old boy. Read good things about the chap so time will tell, I'm sure MGX would love to have his services.

um . im sure he will be an asset at fmg actually and havent disputed that .my beef is with some of the space cadet posts here stating that FMG and OZL may merger because of hegarty , now dear read the posts and you will understand where im coming from instead of jumping on my case for stating facts ......

ps MGX already got mr johnson and he does fine ....