Fing I/O is above $150. CLF based on past performance should be $60.
Could it be because they are so cash strapped their selling off assets at pennies on the dollar?
With China roaring back, US autos and home building rising, and Europe somewhat stabilizing you
would think this POS had some legs. NOPE.
Hey, the gold miners suck too. I'm holding a bunch of ABX, finally figured out that I have to swing trade it as even though the environment is great for gold prices nobody wants to buy mining stocks. They are all lumped into the same category, even though China doesn't use gold to build homes or infrastructure ABX gets penalized the same as CLF for being a mining stock.
I'm looking seriously at CLF, will go long soon just waiting for the best price. I think we will see more CLF sell-off after they announce Q4 earnings, that's what I'm waiting for (plus the volatility of the U.S. debt ceiling negotiations should drop stock prices in general). GLTA
I think you are totally right about where it should be right now based on $150 iron ore. However, it has made a huge move from $28 and looks to be consolidating right here. To me.....looks like a coiled spring action ready to take off. The BIG piece to the puzzle is the markets. If we break out here we could see CLF at $44