I am out of CLF completely and into MSB instead. For those who don't already know, CLF pays royalty fees to MSB for ore taken from the Mesabi Range in Minnesota. Almost all of the payments from CLF are distributed to MSB shareholders.
MSB will pay shareholders close to a 10% royalty this year. MSB has depletion that can be claimed on taxes. MSB currently has low institutional ownership while CLF is almost entirely owned by institutional investors already.
CLF is a great company. But if you want to put money in your pocket, buy MSB.
hope you didn't go all in at once, market may be due for a correction. If CLF goes down on Monday it may head down $94 and possible $92. If it goes up, it may head to $104. It's hard to tell which way it goes. CLF is a good long term investing.
David, you made a good choice owning cliffs. I've owned this stock for the last 18 months.
Keep some cash on hand to catch the dips. There is nice movement to the down side, 5-10% then the rebounds.
The next 60 days are going to be a great ride here. Earnings will come out in May, and the numbers will be outstanding.
Hedge funds and MM's are going to be moving in here.
in fairness, to predict the possibility of $94 on the lowside, you need to put that topside at $110, based on technicals. Either way, we're talking extremes. I don't see news having that effect unless the bottom falls out of the world or the second coming occurs. $101-$102 more likely.
Hi David and welcome to CLF. You have made a good choice with your purchase of CLF. I've read back over some of your posts on other boards, and concluded you are sincerely looking for a good place to park your money to make some money. I also noticed you have looked into foreign stocks, had some success and some not so successful trades. You remind me of me some years back, so I'll be honest with you and you can take the advice, or not, as you see fit.
First, you made a good choice. This company has good management, no skeletons in the closet. They are the largest producer of iron ore in America (that's 2 big pluses right there, market moat and American company) and have set themselves up to expand their sales in a big way in overseas markets this year, next year, and the next. Predictions are that iron ore will lose it's luster in 3 or 4 years as new mines are brought online by competitors and the supply side catches up with demand. It is at that point that CLF will have developed it's chromite side of the business, and embark on another adventure in that market, so we have some great years to look forward to.
Your buy-in price was good, there's the capacity to do some limited trading with this company, but just be cautious about doing that. I've done it many times, made money on some, lost opportunities on others as the price raced away from my sell price. You'll see, I'm sure. What's important though, is that you found a good place for some of your portfolio with CLF. It will perform for you again and again, hang in there, and good luck.
I made some purchases last year and made a little profit but if I had the balls and held longer I would have made very well. Somehow I sell too quickly. My last sell was silver SLV at 32.04
But this time is different. I am tired of selling a stock and seeing it fly up the next week or months. This time I am going to hold CLF.
I do not know as much as this stock as some of you guys. But I am going to do as much research as I can and find good advice on this message board as I can.
The PE of this stock is very low and the way Its growing its cash has me interested in this stock. I am planning to hold long term.
P.S. This message board seems much better than the other message boards with information about the company.
P.S.S Thank you all.
My advice, if you have not yet done so.
Go to CLF website and listen to the CC, mostly the Q&A. Best way I find is to first go to "Seeking Alpha" Print out the CC transcript, or just the Q&A part then listen to the CC while writing notes or questions.
You have alrady shown wisdom with your purchase. Find out what a "Gold Mine" you bought.
Iron Ore Coking Coal and Chromite == CLF== Profits.