OK - So the prospects are terrible for 2013 and mkt indexes in general are very strong right now so when's the best time to consider buying CLF?
I'm going to continue watching this ... If we get a selloff in the next month or two, and CLF shares dive along with the overall selloff ... that might be a time to accumulate for the haul to 2014 and beyond.
Buy point? I'd anticipate seeing somewhere in the $19.50 - $20.50 range
CLF has been making over $1B past 3years if not write-down last year, even with worse macroeconomic condition than now, through last 3 years of Bankers and Europe crisis.
Now Iron ore is hitting over $150/T, and next Q earnings estimate is going up every week in yahoo finance.
Those who don't see it, will miss the train for huge uptick.
I bet CLF can make twice more than current estimate of $0.32/S, with 1st Q Iron Ore price hitting around $150/T for whole 3 months of 1st Q.
Chano and thieves are all wrong about Iron ore price, and they know it.
I am all in now.
$2-5/share in 5-7 years. The markets are less than 1% below all time historical highs. Remember, be fearful when others are greedy and place large bets on high probability events. Going long and big CLF now is a low probability event for a positive outcome.