Smarting girlies....5 Jun 2010 16:06
With commodities like Iron Ore moving away from the restrictive practice of yearly contracts to a more spot market orientated trading pattern, the miners were really on a roll, and were in effect becoming money printing machines. The Rudd government's proposal to 'claim the a fair share of these profits' for the nation is in fact reasonable, and Rudd will not back down. The miners are simply smarting and the short traders taking advantage of this bile and petulance on the part of the miners to kick the share price around. The fact of the matter is, the world needs the iron ore and other commodities in increasing amounts, and there will inevitably be a steady rise in these commodities over time, as demand will always keep pace with supply, and moving to the spot markets will augment this persistent and systemic price rise. Thus, once the smarting miners calm down and accept the inevitable, the share prices will rise back up to refect the fundamental worth of the majors like Rio, BHP, Xstrata, etc. -
It is claimed that parliament is a formum for male sixth formers. Well, the stock market is a formum of femaale sixth formers, and their hormones are far more fickle and unpredictable in the short run. - Semper Eaden, and Queen Elizabeth the First would say!