Sage - IFLers20 Jun 2011 00:36
Big week coming up here, are we set for another pounding or is the SP going to stabilise round the mid-teens? All very reminicent of late 08 with general market sentiment, furnace closures and a huge drop in price. I guess one question to ask is are we in a better position now than two years ago. Its a hard one to call, I seem to remember we had both furnaces shut last time round and prices were rock bottom. Things have improved but two years on with our stockpiles eroded and cash frittered away we seem to be in a precarious position to say the least. We haven't dropped a third in a fortnight for nothing!! as always with IFL the news is factored in before we can react, Price of FECR, more furnace issues, placing to raise cash? it should all become apparent in the next few days or so. One things for sure I felt like selling up in 08 as I feel like selling up now. I felt quesy at the though of topping up in 08 like I feel queasy at the thought of topping up now. Deja vous but the big difference is Im hoping Iv got the patience and the guts I was lacking 2 years ago to see me through it. (pity I don't have the cash I had 2 years ago :)
Big test of faith for all long termers over the coming months, still Its easier the second time around don't they say?! :)