The action on this stock hasn't been good in months. The technical's have been terrible. only interrupted briefly during a quick run up on a buy out rumor. Very difficult stock to own during a positive news black out with the massive amount of short sellers. I have only been able to judge the movement of this stock 1 time which was clouded by the run up.
Maybe, but a one day bounce with no follow through doesn't mean a whole lot. Steel, coal and iron ore stocks have been one of the worst performing sectors in the past year and a half. Steel stocks have been falling for 3 years and still don't seem to have found bottom. I picked up MNST not to long ago when it fell to $40 on huge volume. MNST still has good growth, CLF does not and appears to be just another value trap. I am in CLF for a trade and based on the chart I don't know why anyone would hold it long term.