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FMG - Fortescue Ltd

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DB008 said:
l can't believe how low it is going. Looks like it might be heading south of the $2.00 mark soon. Another rough night on Wall St and it's a strong possibility.
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i am lead to think that its a buyers market and people thing it might be worth less-

i know this as my business as turn into a buyers market of them telling me what my stuff is worth-wether thats right or wrong is a different story all-together-

i am not happy but who is in this market place-

if u not in fmg i supposed u can have a better look from the outside-
 
agro said:
I will keep it on my watch list - they have maintaince to do but I spose better to do it now when demand is down then in march when it recovers.
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Well Agro, here's your chance. Not a bad call to sell at $2.52. Today you could have bought back in at $2.26 and picked up 11% extra at no cost, except brokerage. Unless you expect it to go much lower, that is.
 
Iron ore is a buyer's market now since China can cite falling demand, commodities etc to bargain.

Which kinda leads to a seller's mkt in FMG shares...
 
It seems appropriate to quote one of my posts from a few months ago now that FMG has gone below $2.30.


No smugness, just a yawning feeling in my stomach as I empathise with all those in so much pain.
 
MichaelD said:
It seems appropriate to quote one of my posts from a few months ago now that FMG has gone below $2.30.



No smugness, just a yawning feeling in my stomach as I empathise with all those in so much pain.
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meh..

the market sentiment is only a reflection of today's situation - yes there is slowdown in China at the moment - but how long for? the next 10, 20, 30, years??!

doubt it

i still hold, only sold a portion mind you - high risk i know, but who knows where the company ends up?
 
skyQuake said:
Hey... that sounds like revenge trading; quit while you're ahead. Apologies if its not.
Good luck.
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yeah i see what you mean.. its not revenge trading though.. examination of the above transactions shows im down $1515 on FMG... considering how much i liked it. i think i did okay... the general downturn forced me onto the sidelines so my exposure has been very limited.. ill probably be looking a price lower than 2.0. because i belive it probably reach there.

as everyone has been saying.. the bottom has been hard to predict.... but i think at the end of a capitulation it HAS to be the bottom. i mean anything between $1.00 and $2.00 isnt a big deal. as long as you dont buy too many..
 

agro said:
out at 2.52

its just getting smashed - maybe twiggy is selling who knows?!
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mmmmmmm ok i thought you sold out cos you thought they was a dog of a co ? not a dog anymore ?

personally think they are a great stock to trade tho
 
Warren Buffet II said:
Big drop in commodities at the moment. Copper down 5%, I would say FMG will drop to $2 very soon.

WBII
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WBII

Thanks a lot for your optimism to see FMG will come down to $2 .

You (and me) may get a shocking surprise to see your optism is a reality this week considering not only commodity fall, DJ fall, GM crisis but also FMG has stopped dredging and got into a legal battle with Aboriginal group for his rights. I saw big news on FMG in West Australian including Graeme Rowley's worried face. The sum up was not a rosy picture.

In a few minutes we will know how FMG and rest are behaving today
 

joey it seems i keep meeting people or hearing people trying to pick the bottom or top-

i feel that is never going to happen

like my dad says if unsure just wait-no hurry and plenty more where that came from-
 
Doesn't look good. If they keep falling at this rate their economic model may no longer become viable - People tend to stay away from companies with large debt in 'crashes'. Not to mention declining iron ore prices so nothing but a short for me.
 

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Rhynoceros said:
http://www.wabusinessnews.com.au/en-story/1/68207/FMG-s-chief-operating-officer-resigns

Chief operating officer, Alan Watling resigned today...supposedly to spend time with family hmmm.
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That is realy shocking. He was one of the key drivers of this operation and carried lot of say. Probably he got shot being the messenger of truth or since there is no operation then why need a Chief of Operations (sorry for being tongue and cheek). But Rob is a great operator and many heads to roll with FMG price to slide down.

Should I wait for it to go to the original price when Twiggy bought and then buy million shares at 1 cent ?
 
UraniumLover said:
Not to mention declining iron ore prices so nothing but a short for me.
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Who are you shorting this through? Or did you mean this in the proverbial sense? As i am currently aware, there is a shorting ban on ASX stocks.

Cheers,


CanOz
 
"Will this become a Grooves II business?"

I've mentioned it before, but it's more likely to become an Anaconda II type business.

My guess is they wont survive the downturn.
 

I bought 4,000 shares at $13, $11, $9, etc.... thought I would price average at $5/6... now at $2.03 I'm pretty f$%#ked! If the online advertising business was not booming at the moment, I'd probably be forced to sell by now. As it is, I was hoping to trade out after a few months. Now it looks like I will have to take a long term view of FMG. IF they survive, then perhaps 2011/12 will show some promise. I think I will buy more at $1.60-80, but I thought I had picked the bottom at $5 and how wrong was I on that!

So, I have lost around $30k at this point, but obviously only if I sell, however, Miner's comments about buying in at 1c have got me worried. Will it really come to that? At what point will FMG become unable to service it's debts? This was my first exploration into the stock market, and wow, could I have done much worse?!!

So, all I can really say is.... AAAARRRRGGGGGGHHHHHHHH
 
So why not wait until the trend changes and the SP starts to improve? When/if this happens it won't go to $5, $7, $9 or whatever overnight. There'll be plenty of time to get set if that is what you want.

 
oldblue said:
So why not wait until the trend changes and the SP starts to improve? When/if this happens it won't go to $5, $7, $9 or whatever overnight. There'll be plenty of time to get set if that is what you want.

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Agreed... but really at the end of the day, it's all just another form of gambling. There is no science or reason when the market is like this.
 
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