FMG - Fortescue Ltd

stockt12 · 22 December 2008

http://www.theaustralian.news.com.au/business/story/0,28124,24833101-5005200,00.html?referrer=email

what a surprise... i posted this a few months back, unfortunately it turned into a bit of a ****fight between myself and agro

agro · 22 December 2008

stockt12 said:
http://www.theaustralian.news.com.au/business/story/0,28124,24833101-5005200,00.html?referrer=email

what a surprise... i posted this a few months back, unfortunately it turned into a bit of a ****fight between myself and agro

how come everyone (all the haters and critiques) come in here when FMG is doing really poorly but they all go into hiding when it is going up??

always been the case,

FMG has been successful in reaching all its milestones and is the 3rd biggest in Australia

twiggy mixes with packer, the chinese etc..

enough said

Macquack · 22 December 2008

agro said:
twiggy mixes with packer, the chinese etc..

enough said

The only Packer worth mixing with (Kerry) is dead...........................................................................

Trembling Hand · 22 December 2008

agro said:
how come everyone (all the haters and critiques) come in here when FMG is doing really poorly but they all go into hiding when it is going up??
always been the case,

Oh God that's nearly as ridiculously funny as your avatar.
Mate it hasn't gone up, only in your love struck eyes. It has yet to make 1 higher high since June. Until then I think you will be the only one thinking its going up.

She has not trended up Full stop! Only lower highs that's a down trend mate.

MichaelD · 22 December 2008

agro said:
how come everyone (all the haters and critiques) come in here when FMG is doing really poorly but they all go into hiding when it is going up??

always been the case,

FMG has been successful in reaching all its milestones and is the 3rd biggest in Australia

twiggy mixes with packer, the chinese etc..

enough said

24-June-2008 $12.78
22-Dec-2008 $1.715

Dare I say it - "enough said". Nah, I need to say more...

I'm sorry, but when exactly since June 2008 has FMG been doing anything other than doing really poorly? It has fallen 87% in value in 6 months, Agro. The only thing it has done well is in outperforming most of the rest of the market by falling MORE than most.

And let's throw some cliches in here as well for good measure;

"The market can remain irrational for longer than you can remain solvent"
"Don't fall in love with a stock since it won't love you back"

You know, this truly is one of the most illuminating threads here on ASF.

prawn_86 · 22 December 2008

agro said:
enough said..so continue to post in this thread, ur only wasting ur time

If us posting can stop one person out there having the same mentality and love for a stock, then it has been more than worth all of our time.

We are here to try and share knowledge and help each other, but some people are too ignorant to see that.

nomore4s · 22 December 2008

agro said:
and i wont stop loving FMG either because i know the Chinese love this company..

The same chinese that are manipulating the steel market?

i will sell out when Twiggy sells..

Or when you get another margin call

and for the final time i will be buying at $1 - $1.10

Oh so now it's $1 - $1.10.

agro said:
FMG has been successful in reaching all its milestones and is the 3rd biggest in Australia

Doesn't mean a thing if it can't turn a profit. And with the lower prices for IO and the huge amount of debt this company has it is yet to prove that it can do it.
The fact it is issuing shares (yet more shares) to pay contractors for completed work is a major red flag imo, running out of money and can't take anymore debt on maybe?

This company already has over 2.8 billion shares on issue, this means it is going to have to turn a profit of over $280 million dollars just to make a profit of 10c per share. And it still has debt of around $5.9 billion to pay back as well. And this is without issuing anymore shares.

Put this in perspective (all figures are from Commsec so don't blame me if they are wrong

:

RIO - 1.2 billion shares on issue. EPS - $6.53 or profit of $8.2 billion. Current SP $37.40

BHP - 5.6 billion shares on issue. EPS - $2.85 or profit of $15.9 billion. Current SP $29.64

and compared to a different sector

CBA - 1.3 billion shares on issue. EPS - $3.44 or profit of $4.7 billion. Current SP $27.06

Still looks like an expensive spec stock to me atm.

larrikin · 22 December 2008

(no people dont use that as entry point i hear you say?? a study of the market depth shows you they do......currently at the close there are 80 people wanting to buy 400,000 shares at 1.70...

the next closest after that is only 18 and 15 people at 1.71 and 1.68

Joeyjoejoe, where did you go/what do you use to find out out this information?(i.e how many people bought at what price and how much] I would find it a really helpful tool. Is it available through a certain stockbroker?

Thanks in advance.

drsmith · 22 December 2008

agro said:
how come everyone (all the haters and critiques) come in here when FMG is doing really poorly but they all go into hiding when it is going up??

always been the case,

FMG has been successful in reaching all its milestones and is the 3rd biggest in Australia

twiggy mixes with packer, the chinese etc..

enough said

There is no doubt that Twiggy has done most could only dream of. He is not in Packer's class however as his wealth has not yet stood the test of time and there are serious doubts as to whether it will.

It will be interesting to see where things lie in say, 12 months time.

joeyjoejoe · 23 December 2008

larrikin said:
(no people dont use that as entry point i hear you say?? a study of the market depth shows you they do......currently at the close there are 80 people wanting to buy 400,000 shares at 1.70...

the next closest after that is only 18 and 15 people at 1.71 and 1.68

Joeyjoejoe, where did you go/what do you use to find out out this information?(i.e how many people bought at what price and how much] I would find it a really helpful tool. Is it available through a certain stockbroker?

Thanks in advance.

i was just looking at the after hours adjust market depth. these transactions havent taken place and this will change in the morning but what im saying remains consistant all day.... for example i watched probably 500,000 shares + waiting to be sold for 3.00 the other day.. i dont remember the exact but it was quite high amount and alot of sellers compared to other prices...none of those were executed as the high was 2.99..

it also works in reverse people ....... resistance levels....

my point is just........in regards to FMG.. forget entry price.. focus on entry time (in relation to the chart...more specifcally short term chart

as per the below:

this information is free by signing up with an online broker. for example Commsec

Number Quantity Price
1 7,000 1.715
18 86,420 1.710
8 45,200 1.705
80 400,117 1.700
3 10,500 1.695
9 67,217 1.690
2 5,100 1.685
15 100,418 1.680
1 9,000 1.670
1 1,000 1.665

Warren Buffet II · 23 December 2008

joeyjoejoe said:
Im sorry but i feel i must post.. it will be a cold cold dark day in hell before FMG is 20c and to suggest that (if im reading correctly is totally absurd.. lets not get carried away here.. you can use whatever stats you like but we all know it wont happen. regardless of any technical analysis the stock is too WELL loved by the market for this to happen.

- Not currently holding FMG.

The stock is too WELL loved???. That must be one of the funniest things ever heard.

Just an example:

http://www.theaustralian.news.com.au/business/story/0,28124,24833639-5005200,00.html

“I don’t think they are a particular favourite of the market and it’s been punished heavily today.

WBII

SenTineL · 23 December 2008

I think the sentiment of this stock being well loved belongs in the past.

Yeah it's been well loved in the last 2 - 3 years prior to July 08 because of the massive gains. But those gains are gone or at least the opportunity to make the sort of gains seen back then by FMG.

People should look somewhere else if they expect a return to the past gains IMO.

joeyjoejoe · 23 December 2008

Warren Buffet II said:
The stock is too WELL loved???. That must be one of the funniest things ever heard.

Just an example:

http://www.theaustralian.news.com.au/business/story/0,28124,24833639-5005200,00.html

“I don’t think they are a particular favourite of the market and it’s been punished heavily today.

WBII

read the quote in its context brother and READ THE DATE ....please dont start bashing me now WB 11.. i couldnt give two droppings about FMG..and at the moment i dont "love it" .. i dont even hold it and havent since it started dropping from 2.90 downwards read my posts on how i trade on FMG...... i wrote that BEFORE the funding problems... please.... dont you have better things to do with your time.. the stock is a spec at the moment.....mainly the reason people LOVE it .....it because it makes them money....in which ever way the choose .....IT DOSENT mean they ALL love it because its just a fantastic LONG TERM BUY...

ITS NO SUPRISE THAT IT IS A FAV STOCK OF DAY TRADERS.....

i dont mean its loved by the general public as a fantastic way to save for retirement and you should put your whole self managed super into it

I stand by my quote of saying it wont hit 20 cents.... if it does u can come on here and tell every1 how stupid i am and ill cop it sweet

if ur so sure WB 2 sign up to COmmsec CFDS.. and short it till the cows come home and then go for a trip to hawaii

Garpal Gumnut · 24 December 2008

I'll watch my charts on FMG.

I've never owned it but its a bit like Dracula, when you think its dead, up it rears again.

Has it had a stake through it's heart?

If not lets wait and see.

gg

nunthewiser · 28 December 2008

nomore4s said:
lol, fading him will be a good option.

When he's bullish sell, and when he's bearish buy.

The ultimate indicator:, been pretty accurate so far.

ROFLMAO!!!!!

LUV THIS THREAD.........luv ya work guys........

ps over the xmas party bits i heard a rumour from a cousins auntys daughter in laws son that FMG had actually done a bit of laying off around the 20th -22nd
this news cannot be verified by me from a link or any articles as i just walked in the door to catch up on the top class humour here and havent had time to look to see if anything been mentioned yet

BUT can definately say that from my source where i heard this said rumour that they would be in a fairly good position to know and the cousins auntys daughter in law sure knows how to make a great fish curry

Poppypop · 2 January 2009

Well,l i bought 90,000 shares at an average price of 190, a few days ago, and will sell when i feel the rise is over (220 - 280). Currently it sits at 201 and rising. I believe there is going to be a substancial rise very soon. I have no doubt they will be sitting around the $3 mark before March (2009). I feel very confident of my investment, as far as making me some quick cash goes

Trembling Hand · 2 January 2009

Popster nice ramp completely void of analysis or info or value for you first post . You got a stop on that trade or is it a 100 % chance that its going to 220 - 280

MichaelD · 2 January 2009

Trembling Hand said:
You got a stop on that trade or is it a 100 % chance that its going to 220 - 280

Don't forget it's first got to get down to $1 again so Agro can buy some more. Then it can go to the sky.

nunthewiser · 3 January 2009

Poppypop said:
Well,l i bought 90,000 shares at an average price of 190, a few days ago, and will sell when i feel the rise is over (220 - 280). Currently it sits at 201 and rising. I believe there is going to be a substancial rise very soon. I have no doubt they will be sitting around the $3 mark before March (2009). I feel very confident of my investment, as far as making me some quick cash goes

you da man...........

is there a reason for 3 bucks ?

should i sell nannas left titty and buy all i can ?

does this come with a money back guarantee?

so many questions......................

Sean K · 3 January 2009

Trembling Hand said:
Popster nice ramp completely void of analysis or info or value for you first post . You got a stop on that trade or is it a 100 % chance that its going to 220 - 280

It's a 110% chance of going to the moon TH. The train is leaving the station. Toot toot.

nunthewiser said:
you da man...........

is there a reason for 3 bucks ?

should i sell nannas left titty and buy all i can ?

does this come with a money back guarantee?

so many questions......................

Put the right titty on it too nunthe. How can it possibly not go to 3 bucks?

FMG - Fortescue Ltd

stockt12

agro

Macquack

Trembling Hand

Can be found on the bid

MichaelD

Not fooled by randomness

prawn_86

Mod: Call me Dendrobranchiata

nomore4s

Commonsense isn't that common

larrikin

drsmith

joeyjoejoe

Warren Buffet II

SenTineL

joeyjoejoe

Garpal Gumnut

Ross Island Hotel

nunthewiser

Poppypop

Trembling Hand

Can be found on the bid

MichaelD

Not fooled by randomness

nunthewiser

Sean K

Moderator

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