i hope it goes down to the 20s. i bought my 1st lot at $38, now i'm looking to buy my next block @ 33 then 28 then 23. i'd love to see this one go down. everyone freaking out, getting scared, oooh the sky is falling, china this china that ooooh noo oooh no, iron ore prices never going to rebound ooooh woe is me ooooh nooooo. lololololol. silly. this is a great long term buying opportunity. if you think ifs going down just buy some puts while buying small blocks of shares. People are always going to need iron, regardless of whats going on.
What else would a short term trend trader say when they are shorting. Give hope to long term holders of CLF? No they will pile it on until you jump off the CLIFF. There could very well be a lift tomorrow but I'd still be cautious. Going into the long weekend is tricky. You are right on one thing when this baby pops it will be a 4-8% rise on short covering. Naturally, all the short posters will hide again. They always do.