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Cliffs Natural Resources Inc. Message Board

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  • brokeagain73 brokeagain73 Dec 6, 2012 12:16 PM Flag

    31 very possible with breakout on the way

    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.

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    • hedge fund accumulating here and will panic shorts just as WLT and DECK have both seen recently

      • 1 Reply to jockne40
      • oliviajagger Dec 6, 2012 1:45 PM Flag

        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.

2.56+0.20(+8.47%)Oct 2 4:03 PMEDT