FMG - Fortescue Ltd
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Prospector
Not a scaredy cat anymore
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What the hell just happened in this afternoon's trade
I have no idea but I will take it, everytime!
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came home to find 1.80 on my computer
i am stoked!!
who else in here got some FMG yesterday or today
i am sure some of the critics did but they just deny admitting it to save face
don't think it will goto $1 either unfortunately..
i am stoked!!
who else in here got some FMG yesterday or today
i am sure some of the critics did but they just deny admitting it to save face
don't think it will goto $1 either unfortunately..
came home to find 1.80 on my computer
i am stoked!!
who else in here got some FMG yesterday or today
i am sure some of the critics did but they just deny admitting it to save face
don't think it will goto $1 either unfortunately..
I bought 4000 at $1.445 and 10000 at $1.45. My first lot was bought at the 52 week high, though, so that wasn't too good! Still, in maybe a year or five, we will be laughing about this!
Prospector
Not a scaredy cat anymore
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Way to go Agro, I am pleased for you after the last few crappy weeks!
:I have no idea why the market did what it did this afternoon, I wonder if they will now get a speeding ticket. Makes up for OZL who got one this week, in the wrong direction!
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Way to go Agro, I am pleased for you after the last few crappy weeks!
I have no idea why the market did what it did this afternoon, I wonder if they will now get a speeding ticket. Makes up for OZL who got one this week, in the wrong direction!
do you think this is the start of a turn around or do you beleive FMG will touch it's lows again (e.g. 1.20 mark)??
certainly, the market has a bit more to fall overall? it has seemed to do that - maybe today was based on emotion?
like to hear warren's opinion too
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Nov. 21 (Bloomberg) -- Fortescue Metals Group Ltd., Australia's third-largest iron ore exporter, rose the most in five weeks in Sydney trading after reporting a new sales agreement and a quarterly "trading profit'' of A$360 million ($219 million).
Fortescue jumped 40 percent to A$1.80 at the 4:10 p.m. Sydney time close on the Australian stock exchange, the biggest gain since Oct. 14, after announcing the earnings late yesterday. Goldman Sachs JBWere Pty raised its profit forecast 22 percent after the Fortescue announcement.
Net profit after tax may be A$950 million for the year ending June 30, up from an earlier estimate of A$777 million, Goldman analysts led by Melbourne-based Neil Goodwill said in a report dated yesterday. Goldman has a `Buy' rating on the stock.
"We have increased our earnings as Fortescue reported lower costs than our estimates to September,'' Goldman said. Iron ore sales of 6.8 million metric tons for the quarter were "slightly better than our estimates,'' the report said.
Fortescue yesterday also said an unidentified top-five Chinese steel mill agreed to almost triple the amount of ore it will buy under an existing long-term sales contract. Representatives of the company including Chief Executive Officer Andrew Forrest visited Hebei Iron & Steel Group and Wuhan Iron & Steel Co. last week, according to The Tex Report on Nov. 17.
Fortescue has existing sales contracts with Tangshan Iron & Steel Co., China's fifth-biggest listed steelmaker and a unit of Hebei Iron, and Wuhan, China's third-biggest steelmaker, Tex said.
see, the stuff i put up with in this thread - but i still come out on trumps
Fortescue jumped 40 percent to A$1.80 at the 4:10 p.m. Sydney time close on the Australian stock exchange, the biggest gain since Oct. 14, after announcing the earnings late yesterday. Goldman Sachs JBWere Pty raised its profit forecast 22 percent after the Fortescue announcement.
Net profit after tax may be A$950 million for the year ending June 30, up from an earlier estimate of A$777 million, Goldman analysts led by Melbourne-based Neil Goodwill said in a report dated yesterday. Goldman has a `Buy' rating on the stock.
"We have increased our earnings as Fortescue reported lower costs than our estimates to September,'' Goldman said. Iron ore sales of 6.8 million metric tons for the quarter were "slightly better than our estimates,'' the report said.
Fortescue yesterday also said an unidentified top-five Chinese steel mill agreed to almost triple the amount of ore it will buy under an existing long-term sales contract. Representatives of the company including Chief Executive Officer Andrew Forrest visited Hebei Iron & Steel Group and Wuhan Iron & Steel Co. last week, according to The Tex Report on Nov. 17.
Fortescue has existing sales contracts with Tangshan Iron & Steel Co., China's fifth-biggest listed steelmaker and a unit of Hebei Iron, and Wuhan, China's third-biggest steelmaker, Tex said.
see, the stuff i put up with in this thread - but i still come out on trumps
I'm with you there, Agro.
Lots of naysaying and gloom and doom from this forum for a long while now. But I think it's important to remember that anyone posting to this forum could be a buyer or seller, so motives are unclear. So I tend not to listen to ramping up or down, and just base decisions solely on what I know to be true.
Unfortunately, not everyone does this, so I hope new members realise that the very person who says FMG is dead could be the person who wants to buy FMG for peanuts... and vice versa.
Lots of naysaying and gloom and doom from this forum for a long while now. But I think it's important to remember that anyone posting to this forum could be a buyer or seller, so motives are unclear. So I tend not to listen to ramping up or down, and just base decisions solely on what I know to be true.
Unfortunately, not everyone does this, so I hope new members realise that the very person who says FMG is dead could be the person who wants to buy FMG for peanuts... and vice versa.
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exactly!!- whenever i hear negativity or alot of interest being put into a thread such as this (i always notice someone posting) it is not because they are helping others by simply informing them but...
its because they have a vested interest in the company !!
so when u hear negativity from others --> thats ur sign to buy in and confirm your beleifs !!
people hate to deny it though - it's like convincing you not to buy the piece of land the other person wants because it is supposedly 'bad' lol
prawn_86
Mod: Call me Dendrobranchiata
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Yep well done to those that managed to pick this bottom. Remember that a 'paper profit' is the same as a 'paper loss' neither are locked in, so in uncertain times it might be prudent to take some off the table, or at least run a trailling stop 
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Agree somewhat, a lot of the time people post negativity just to justify their opinion cause they missed the boat or they've been burnt by it...
Esp those who have been burnt; they can be as deluded as holders who have taken on too much size.
Don't base your investment decision on others, but do consider their advice objectively.
Do however, separate basic opinion from money management advice.
Cheers
skc
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Where do people get such thinking from? This is totally ridiculous on so many levels. Do you really believe poster on ASF can influence the market? Talking down something with the intention of buying it on the cheap may work in a private sale (e.g. a block of land)...but it will not work for any shares because they are traded on the exchange! This kind of thinking will merely block yourself from listening to balanced views about a company's prospects - which is what this forum is for.
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Still too early to get back into the market, i reckon. Although commodities are still in a bull market, i don' think they've reached the bottom of their dip
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yes but agro, I'm sure there are posts back there where "some here" were saying it would be blue skies above $13
So it falls to 10% of that - literally decimated -
and wow - it rebounds 40% = 50c ; which is only 4% of the June value of $13 - and "some here" are talking as if FMG should never have been doubted.
Let's be honest, FMG has been a disaster in the investment stakes, hit heavily as it has been by the downturn in the international community that (dammit) has even reached China.
Perhaps it just proves that "the market always overshoots". Then again, maybe there are tougher times ahead.
So it falls to 10% of that - literally decimated -
and wow - it rebounds 40% = 50c ; which is only 4% of the June value of $13 - and "some here" are talking as if FMG should never have been doubted.
Let's be honest, FMG has been a disaster in the investment stakes, hit heavily as it has been by the downturn in the international community that (dammit) has even reached China.
Perhaps it just proves that "the market always overshoots". Then again, maybe there are tougher times ahead.
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Yep well done to those that managed to pick this bottom. Remember that a 'paper profit' is the same as a 'paper loss' neither are locked in, so in uncertain times it might be prudent to take some off the table, or at least run a trailling stop
If there ever has been a time that trailing stops are paramount it is now! I've learnt that lesson the hard way
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yeah getting sick of some of the crap posted in this thread, mostly from agro.
you are talking it up as the best thing since sliced bread at it's highs, calling FMG a dog at it's lows and what do you do today? omg
i actually value Warren and the other guys comments as it's always good to hear different views especially different to mine. it's how i like to learn. i've also stopped listening to people that say 'oh i think this may be the bottom' or 'i think there's still tough times ahead' YOU ARE ALL WRONG, NO ONE CAN PREDICT THE FUTURE. until we some reality of the market actually turning around, then we can say 'that was the bottom'
then ramping - as if anyone on this forum can influence the share price!
i disagree about it being a disaster, anyone that has held any stocks through the last year would have had a huge loss with majority of their shares and blue chips.
you are talking it up as the best thing since sliced bread at it's highs, calling FMG a dog at it's lows and what do you do today?
omgi actually value Warren and the other guys comments as it's always good to hear different views especially different to mine. it's how i like to learn. i've also stopped listening to people that say 'oh i think this may be the bottom' or 'i think there's still tough times ahead' YOU ARE ALL WRONG, NO ONE CAN PREDICT THE FUTURE. until we some reality of the market actually turning around, then we can say 'that was the bottom'
then ramping - as if anyone on this forum can influence the share price!
i disagree about it being a disaster, anyone that has held any stocks through the last year would have had a huge loss with majority of their shares and blue chips.
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In terms of stock markets, you can - if you understand the fundamentals.
Peter Schiff was right. Predicted this accurately in 06
http://www.youtube.com/watch?v=2I0QN-FYkpw
