This week, Talking Numbers looks at the best and the worst of 2013. Today, we focus on Cliffs Natural Resources, one of the worst performing stock in the S&P 500 index. Is it a turnaround story waiting to happen?
It's one of the worst stocks in the S&P 500 index – Cliffs Natural Resources. While the market's benchmark is up 27% in 2013, Cliffs is down 37%, making it the second-poorest performer in the entire index.
But could Cliffs do what last year's second-worst S&P 500 performer did?
Advanced Micro Devices (AMD) was down 56% in 2012, fairing only better than Apollo Group's loss of 61%. However, so far in 2013, AMD is up 52%. That still means it's one-third lower than where it was at the start of 2012, but it's a start.
Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, believes the Cliffs can pull off a similar feat. "I love the chart of Cliffs Natural Resources," says Ross.
According to Ross, the 50-week moving average offers a tradingRead More »from This laggard could lead in 2014