I took a punt on FMG ( Fortescue metals group) this Thursday on 13/08/2009 at $4.42 @ 1000 Units

That  totals too $4439.95 ($4.42 x 1000 Units = $4420 + $19.95 = $4439.95 ) ( the 19.95 being my broker fees at www.comsec.com.au . Luckily for me  Fmg got busy and had a announcement to make soon  which they declared on friday which  i was hoping was good news from fortescue  and so they went into a trading halt.

Keeping my fingers crossed .. and expecting good news given that they already had some good news a few days earlier with their profit  numbers already out.

FMG  Day trading

I had my eyes keenly on the  pc screen this morning only to see it jump  up to $4.75 and reach a new high. I grabbed it and put a sell on my FMG stock.

4.75x 1000=4750 –19.95(broker fees)=$4730.05

Therefore  after all broker fees Sold at $4730.05 – Bought at $4439.95 = Profit of  $290  already today.

Not a bad start at all  to start the day.

Thank You  Andrew ‘Twiggy’ Forrest

Confidence has now fallen for 10 consecutive months, but last month’s decline accelerated, plunging 21 points to minus 29 from minus 8.4 in September.

CMC Markets senior dealer Dominic Vaughan said the local market was plagued by a combination of negative global sentiment, expectations Australia was heading for a recession and thin trading volumes.

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