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Cliffs Natural Resources Inc. Message Board

  • roberto8024 roberto8024 Jul 16, 2009 2:58 PM Flag

    Golden Cross?

    I am no expert on Technical Analysis by any means, but did anyone else notice the 50 Day SMA went above the 200 day SMA on July 6th? If it is indeed a technical "golden cross" then this is going over $30 pretty soon.

    Any comments?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • actually, the golden cross is that CLF closed above the 200 day SMA for the first time sine last October. That's bullish!!

    • Just because a golden cross exists doesn't mean the stock is going higher. practically half of the stocks in the S&P500 have a "golden cross". Technicals are real cute to look at, and actually play a part in price action when there isn't much fundamentally going on, but to move CLF to 30 will require a renewed reflation trade or a China buyout. Price action could easily cross back down. I pay more attention to what commodities are doing in china, and the tape action over the past week. But I'l agree CLF is going to 30 and probably soon. CLf @ 30 S&P 975 by wednesday sounds about right.

      • 1 Reply to gamehunter85
      • ive seen clf trade to 30 at least 3 times since i bought it at 17..getting tired of that routine actually and just might dump the stock if i see it again next week..im pretty sure the market will top out soon anyway and the shorts will tank the market again only to repeat the clean and rinse cycle again and again...talk about a rigged casino..

 
CLF
7.22-0.27(-3.60%)Jan 26 4:04 PMEST

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