FMG - Fortescue Ltd

[Poppypop]

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

I posted this on the 2nd of Jan this year I bought and sold it and made about 30k in Jan before rebuying at around the 170 mark. My portfolio is looking very very healthy. hehehehehehe.

 

[Harro7]

That's enough for now, I'm sure you've all had enough of my ramblings :

EDIT: uploaded old 1 year chart, EMA is shown braking up higher better there

Hey thanks M34N. I Enjoyed your "ramblings". I have emailed your charts and some of your analysis to my mentor for further explanation to myself (only learning). Can I ask where you get your charts from...

 

[M34N]

Hey thanks M34N. I Enjoyed your "ramblings". I have emailed your charts and some of your analysis to my mentor for further explanation to myself (only learning). Can I ask where you get your charts from...

I use E*Trade, their interactive charting is very good and displays any time frame you wish to select, very handy. Only problem is their interactive charts are delayed by 20mins for the non-Power E*Trade accounts, but that's not so important for me since I don't day-trade on this analysis (only if I spot a trend manually). I use it more to pin-point entries and chart the trends in the market so it's fine for what I use it for.

If any of you have a question about what I've written, feel free to PM me, I don't mind taking the time to explain some of my analysis, as I realise I write a lot of it with glaring spelling/grammatical mistakes everywhere

 

[M34N]

Well, just bounced off $3.00 only moments ago and hovering around there, here is the moment to see if it bounces higher or faces resistance. Today's move is unusual, I would expect a speeding ticket for this move considering the general market is down close to 2%. Again high volume on the upswing days, still looking very positive.

Anyone got a reason for today's move? It opened down 2% this morning and was expecting a walloping to be honest. Will post more later after the close and analyse the moves for today closer.

EDIT: In the time it took me to type that post, it shot up to $3.06. Lets see if it closes above $3.00 to reinforce the move higher. +$0.40 of +15% today in light of general market, something sus is going on I reckon.

 

[Harro7]

Well I got in far too late on this stock and far too early I get out. I'm out at $3, next time I shouldn't be so trigger happy. Happy my first trade was a profit though

I believe this may be the reason http://www.news.com.au/heraldsun/story/0,21985,25070851-664,00.html

Edit: this is crazy. 3.10 to 3.30 in the time it took me to post that. It's making me depressed

 

[M34N]

Well I got in far too late on this stock and far too early I get out. I'm out at $3, next time I shouldn't be so trigger happy. Happy my first trade was a profit though

I believe this may be the reason http://www.news.com.au/heraldsun/story/0,21985,25070851-664,00.html

Edit: this is crazy. 3.10 to 3.30 in the time it took me to post that. It's making me depressed

Ah, that explains it.

Looks to be in a pre-open (halt) now, speeding ticket issued as expected? Currently at $3.33, up 10% in the 20mins since my post

EDIT: You edited too quick for me, Harro

 

[gfresh]

Investigating "investment and interest from third parties".. Nice to see them waiting at least a week for a speeding ticket before announcing it to the market

 

[Prospector]

What are you guys talking about, it is trading at $2.96 on my screen? Has it re-opened and dropped back?

 

[matty193]

What are you guys talking about, it is trading at $2.96 on my screen? Has it re-opened and dropped back?

It's fallen back, just as quickly it seems.

It was interesting to see for a few mins there the bid was way beyond the offer. Can someone explain that to me? Is this the sellers realising the rally ending any moment and trying to outsell each other in the imminent fall?

 

[vincent191]

There is speculation about somebody snooping around the mine. Read the Sydney Morning Herald for details.

Very impressive looking at the "course of trade" and the volumne. I guess where there is smoke there is fire, will have to wait and see.

Also something in their reply to the ASX.

 

[Family_Guy]

Thought it was interesting and it totally sucks, but the ASX rec'd the fax 2 hours before the announcement was made and looking at the volumes and the SP rising 35 odd cents BEFORE it was released and it's obvious i need to make some friends on the inside. I noticed the volume jump and topped up but by the time i sold i didn't make much profit on my buy today.

 

[M34N]

I still think today's close is positive, given that every bit of resistance today ($2.75, $2.85 and $3.00) were all breached confidently, and followed a nice uptrend as shown on my chart below.

Volumes were ridiculous and I don't think you can draw much from the intra-day action today because there would of been a lot of 'in-and-out' day traders forcing this wild price action. And the close below $3.00 could be a sign of the day-trade action and not a sign of a failed opportunity to close above a major resistance line. Volume was roughly equal before and after the rise above $3.00 so kind of unsure how to interpret this.

Too many variables to draw a firm conclusion, but the positive is that is was still up 12% on a day when the majority of the market was down 1.3% so it doesn't take a genius to see that is very bullish, and even out-performed the gold stocks, some of whom also finished well off their day highs.

 

[gfresh]

Have to wonder now whether the news is "in the open" so to speak whether the speculative support may fall out of it a little??

More likely to simply be an equity stake, rather than any takeover (going on articles). Could be interesting what issue price it may be..

 

[Miner]

Fresh hopes for FMG

I am surprised to see Agro is missing to surface in FMG for long time

Must be holidaying in cold Europe

Any way, last financial deal saw FMG to ramp up substantially. However if the past trend is any indication to watch then we should note after the financial deal at $38 per share (before split) the SP came down at $28 or so giving us opportunit

Please wait and see

I do hold FMG still

 

[nunthewiser]

Well looks like that time again fight fans .......... just got a stickit note pinned on my forehead from the bishop informing me that perhaps i,d better start looking at a FMG short ......

i personally think why fight the trend man, but he is closer to god than i , so should i listen ?

oops too late i think he gorn done it

 

[nunthewiser]

LOL .......... geeez hasnt that bishop got a lot to answer for hey........ any chartists want to place some targets up ?

 

[sammy84]

Can anyone explain what happened to FMG today? I was away from my computer, and in the space of a few hours I went from a nice profit to a loss

 

[M34N]

LOL .......... geeez hasnt that bishop got a lot to answer for hey........ any chartists want to place some targets up ?

Should find a floor around $2.60-2.70, roughly where the stiffest support and resistance was over the past 5 days so I would expect that to hold.

FWIW, I sold half my holding today at $3.10, felt it had run its course and +70% for one trade over 3 weeks is enough! Also wanted to pump some money into BHP for a short-term trade. Still holding the other half out of sheer curiosity of where the stock can go, but looking maybe to sell if the support of $2.60 breaks and have set stop accordingly.

Based my sell mostly on the fact yesterday's high failed to be breached, and the price was flat lining and going nowhere. More traded it out of 'feel' than a chart this time. Intra-day shown below.

 

[nunthewiser]

Should find a floor around $2.60-2.70, roughly where the stiffest support and resistance was over the past 5 days so I would expect that to hold.

FWIW, I sold half my holding today at $3.10, felt it had run its course and +70% for one trade over 3 weeks is enough! Also wanted to pump some money into BHP for a short-term trade. Still holding the other half out of sheer curiosity of where the stock can go, but looking maybe to sell if the support of $2.60 breaks and have set stop accordingly.

Based my sell mostly on the fact yesterday's high failed to be breached, and the price was flat lining and going nowhere. More traded it out of 'feel' than a chart this time. Intra-day shown below.

check my time of entry as posted when i did ... no feelings involved .... the stock had run its course for now and that was indicated to me by chart and watching the action

well done on ya 70% by the way .nice trade....

cheers for your thoughts

this may help to keep an eye on them scumbag shorters (hehehe) if ya want a general look on who,s doin what on a daily basis

http://www.asx.com.au/data/shortsell.txt

only a rough guide but ya can get a small guesstimate from it

 

[Lexie86]

BYL has announced this morning that it received a notice late yesterday from FMG that their contract is to be terminated early (was due to end in August)....