The iron ore sector is once again heavily under the pump today. The majors are all falling sharply with BHP down 2%. RIO down 1.5% and FMG down as much as 3% and resting right on terminal support at $2.92:
The comparative indexes show the huge recent departure of FMG from the chosen group of shakeout survivors:
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I continue to think that BHP and RIO are floating on absolutely nothing.