Iron ore price, page-864

When IO price was at $90UST FMG was hitting 7.00 share price
now IO price is at 60-70 range FMG is at 5.20-5.30,
Many experts even the Aust Govt expected a lower IO price so nothing surprising there.

You are missing the point, When FMG hit 6.50-7.50 that was the selloff time to cash in capital and hold free interests. I told you all this back then in Feb March.

Now the smart money & Instos wait for the bottom pattern and looks like some are calling it here at 5.00-5.30 as that was an impressive whipsaw move yesterday 5.00-5.25 and now a solid rising pattern intraday today green bar 5.20-5.30 with 7c wick to 5.37 high, a big change to the last 50 days red patterns.

So we wait for the flatline and confirmation, buying now would be a risk until a defined trend is confirmed,
Is this the interim bottom, we will see in the coming weeks, no need to rush wait for the pattern to become defined. Some are calling it but it could be a false hope yet again.

I was an FMG old boy between 2004-2009 sold out at 6.50s and only saw it collapse to 2.00 again and go to 7.00 again 7 years later. FMG is a trading stock for Instos/shorters now with a range of 2.00-7.00 every 7 years looks like.

FMG needs to
- increase dividends
- paydown debt faster and sharper
- do some share buybacks with excess cashflow received since January
- keep costs low

Then we will see a nice up line, till then, I patiently wait for the bottom pattern.