Do you really believe CLF and IO are in demise? Come on. Take a real look at what is happening in the world and look at the IO producers on a 10 year chart and look at the stock prices of where these guys are trading on IO price above $130, then chill out. These things all started being accumulated in June. They are going through minor consolidation and profit taking.
I can not see your views panning out unless the globe collapses again, which is a possibility, but not likely.
Yeah, you should see the big boys that jump in after 2 pm start to cover their short positions. Dumb AM money has been taking this stock down over the last 30 days, all I am saying is the pattern seems to be breaking at these prices. Just giving you a heads up, how you take it is totally up to you.