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Cliffs Natural Resources Inc. Message Board

  • kvprahman kvprahman Oct 2, 2008 11:12 AM Flag

    Why is this stock getting punished?


    This stock is taking a big hit for sure. what's the reason?
    Is it fundamentals or some other issues?
    Can anyone shed some light.

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    • 1. The commofity play is over

      2. The momentum specualtor left long ago.

      3. Future softness in demand due to recession

      Perfect storm.

    • You stirred up the naysayers but don't listen to them. They are not interested in truthfully answering your question. Buy all you can at $ 40 and you'll double it in 1 yr and quadruple it in 2.Harbinger Capital Partners might have had a sayso in the replies to your question; if it's going down the drain do you think that HBC would want 1/3 of a defunct company?

    • not $37? come on i think u did, ur fooling around do u?

    • ANY stock can POTENTIALLY fall to zero.

      There is no way to predict a bottom for a stock.

      If you want to use history as a guide, pull up a 10-year chart of CLF. The move up early this year followed by the move down looks like a blip, an aberration.

      CLF simply got way ahead of itself and corrected. Where will it end? Who knows. Could be the 2000 lows at 28. Could be the point of the last breakout of any substantial base at 25. Could be the lows of that base around 15. Could be the 2004 lows around 5.25.

      Point is, there is absolutely no reason CLF can't keep falling here even to the single digits. The market is back to where it was in 2004. Is it so farfetched that CLF can get there as well?

      Today's rally is a selling opportunity folks. Enjoy.

    • ericcotter Oct 2, 2008 4:17 PM Flag

      Its Hedge Funds selling off massive positions and their doing so doesnt reflect the fundamentaols of this stock. Demand is way down but not this much. We will see a spike tomorrow. I bought at $38.

    • When to get in?
      I suspect when Harbinger finally capitulates.
      It owns 18% of the free float.
      Who is going to buy all the stock when/if Harbinger has to sell?
      Most stocks Harbinger owns consist of 10+% positions in the individual stocks.
      That implies horrible liquidity......if Harbinger is seeing large redemptions...well....don't get in the way is all I would advise...

    • these boards really are filled with morons. oh well, comic relief at least!

    • I would suspect your right, I am also guessing that Harbinger ran for the doors when this market tanked 700 points.

      Especially if they had a levered position.

      Harbinger is down quite a few billion dollars on this thing.

      You watch, they will be out of the picture during the next time a disclosure comes out.

    • If commodity prices continue to decline stocks like CLF will have a rough go even when the bear market ends.

      Look at what happened to POT and MOS and the other ags today. These stocks are broken and will not recover for years.

      As for whether or not this is near the end of a bear market, who knows. There is no precedent for what is going on right now. The so-called "fear" indicators are at historic levels which should indicate that Monday was a bottom, yet today we undercut those levels.

      Right now there is no reason to believe we are not just in the first stage of a protracted bear market such as those experienced in the early 70's and 2000-2002. We just have to hope it won't be like the one experienced in the 1930's.

      The market will tell you when it's time to buy.

    • Um, hmm... Let's see . . .

      BEAR MARKET ? ? ? ?

      Have you looked at the headlines lately?

      Do you realize the S&P is down 22% this year?

      Those who buy stocks in a bear market will get punished. Those who short will be rewarded.

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