Trader expert- you are crazy if you actually think this is going below 30..
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.
I bought at 38, im waiting for it to move down by $4 to $5 over the next few weeks before buying my next block. if if doesnt go that far ill wait to see how the upcoming quarter is and buy another block regardless. CLF has a beta of over 2 its going to swing in price. why buy in $1 price changes, it can swings that much in nearly a day!!