My punt on Fortescue metals group

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