There will be dips and retraces, a volatile equity to say the least.
CLF has been a great short sell all year. IMO, the big players like GS and others will run this upwards next year and have already started this year. If for no other reason than this sector has been severely beaten down and there are greater profits to be made---easier money.
Short at the top if you are so inclined, not nearer the bottom, for best risk/reward---opposite for a long trade.
Either way, to each their own.