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Cliffs Natural Resources Inc. Message Board

  • moneynow27 moneynow27 Feb 4, 2013 11:11 AM Flag

    Why is this up?

    This is actually funny. Iron ore headed down, they have a huge write off against last quarter, and nothing has changed.

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    • ....IO prices out of China are still around 150/mt.....with respect to CLF.....has been channeling between 35 and 40 for the last 45 days...play the channel and make money...."the trend is your friend!"

      happy hunting!

      Sentiment: Buy

      • 1 Reply to divine_wizdom
      • Technically speaking the channel is broken and that was a descending triangle that got broken on Friday.

        In terms of why its up today is because ACI reports. Its a metallurgic coal company and this will effect CLF. Usually, when you see a nice sell off prior to earnings, such as AMZN, you could possibly get a pop in the other direction, because its so oversold. I think were seeing this here and could see a major pop in CLF tomorrow into Thursday. At that point, they will probably bring it back to 40 to expire all the options worthless.

        Im looking for a nice pop tomorrow and into Wednesday. Should still get some buying hopefully off of a short squeeze into Thursday and looking for a possible 43 sell price here on this one.

        Good luck to all. Things could always change if ACI just reports horrible.

    • so stay short and keep selling it short

      Sentiment: Buy

 
CLF
7.11-0.04(-0.56%)4:03 PMEDT