you might be right. i thought it would be tested a week ago. momentum is challenged too easily with this stock. the downward 2 year trend is frightenly intact. clf will have to beat another 2 quarters to get to my buy in price (29.45). funny thing is, it still has the possibility of surging to $70 by year end due to the high beta and iron ore demand. but the street will not buy in until the money is there ($7 a share annual).
Today would have been a surprise if not for the fact that every materials stock was down today with the rising dollar. But we are still above the 50 day moving average in the mid-$20's and volume is still quite low. Let's see what happens when we test that level, but generally speaking low volume retests are good and without something dramatic i can't see us below $20 again.