I am pretty mixed on Joy along with other mining stocks. Although it makes the equipment I am still shocked to see how low mining stocks in many sectors have gone. Coal (due to NG), steel and iron, due to cheap China steel, even gold mining stocks not doing that well and gold is doing fairly well. Most deep cyclical stocks are down, not matter what industry, and this has been going on for a while. They are certainly flashing warning signs of possible recession in the US I myself am mixed on it happening. No I do not think the fiscal cliff matters much in the long run, and also think it will get resolved soon, but it's after that I am really concerned. I think this could be a nice trade, if it goes back to 55 I will be very tempted to buy again and depending on when and why it happens ride to 65. But there are many long term negatives out there, Europe, our our debt, first year of of Pres term, who know how china shakes out , it's stock market sure sucks.
But there are also many good economic indicators in the US, and so like I say I am mixed.