I just bought last week at 17.50, gonna hold onto it because I want some long term capital gains from it, I can buy and sell all day long on short capital gains, but this one is good for between 30 and 70 the next 12 to 18 months in my book, economy and manufacturing is coming back, biggest of it;s kind in the usa and it;s a matter of national security to keep it healthy!
The one who already sold will tell you to sell, the one still holding going long will tell you to hold. I sold mine but here is what I think.
-50day moving average is @ $22. I think it's the reason CLF not breaking above it today.
-CLF closed today off it's high -- bearish sign
-Previous high (April 10 high is $21.12) today's closed didn't take out that high -- bearish.
(Break out rule is price closed $.10cents above previous high with volume, today is not break-out play)
-If tomorrow it's going red, it's likely going into today's gap.
-If it's going green tomorrow, I'll wait to get in $.10cents above 50dma.($22.10). 50dma is very strong support or resistance.
-Playing divy on this stock is dangerous, your divy can get wipe out in 5min
Could experience a modest pull-back after the divy.
Only my opinion...no need to take the extra tax hit if this is a short term game.
I fully expect this name to be twice this price by this time next year. JMO.
If you need the cash Now it is understandable sell a little (depending on your base)...If I was in Options...I would have already taken the gains...but just holding stock...I got nothing but time.