John--You may be right but at 26 I suggest the stock would be significantky "oversold". However, fear and momentum can give us unusual and irrational results.---I assume your price estimate is based on a yield of abt. 9.5%. I suggest that in some cases that would be justified but in the case of CLMT the unique mix of products and the "growth" factor differentiate this company from the usual refiner. I believe a price in the area of abt. 30.50 is more realistic. Based on the current div. that would yield just over 8% which is very good for a "growth" stock, even a refiner. However, I respect your judgment and GLTU.
Meanwhile, amidst all of this bearish discussion, CLMT is having a solid up day while the rest of the market continues to drift downward. As I type this message, CLMT is actually slightly up since the election. Of couse, it's still very early in the ballgame.
$26. would be a gift in about a week when the dividend is paid to repurchase so run it down. I used to try trading around this stock but just hold and buy more now on every drop. Have owned since 10-08 at sub $9. I don't worry so much about a little drop here and there. A good company will come back.