Whoa! Sometimes it really is fun watching equity mis-pricing in action. Today the major iron ore miners are up (or were) as iron ore is clearing its throat for a drop into the $50s. Go figure! FMG is demonstrating greater sanity, falling 4% back to $2. Here are the indexes:
The FMG sanity spread is at its widest to date but the two majors have turned bonkers once more:
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