I see this as an opportunity to add to my position. The technical indicator at stoxline website shows a strong buy with the $18.32 target price in six months.
Vale Upgraded to Buy.
Sentiment: Strong Buy
Have buy order in @ 12. Maybe it is too low. This will not go up if market corrects again and it is likely to go down with it .. a little.
Josh, you're overlooking the fact that VALE is way over sold here. With a PE at under 6 and the economy picking up here the upside potential over weighs the down side by a factor of 10.