Over the last few weeks Fortescue (FMG) has illustrated perfectly what we are anticipating following our moves in the gold / oil stocks i.e. we sold FMG around $21 as the iron miner surged 65% from its November low. The stock extended its rally by almost 10% before rapidly correcting 23% leaving our exit level feeling pretty good this morning – it’s impossible to pick highs & lows but excessive swings of sentiment can be identified.
MM is neutral FMG
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