Over the last two years, CLF has gone from over 100 to 28, where it currently sits. I'm guessing that those who buy at around this level will eventually be rewarded. CLF's was overvalued at 100. At the 28 level, it is either fairly valued or undervalued.
maybe it is the start of going lower, I have been hearing this comment for two years "well it has gone down a lot and it must be time to buy" As I tell my son price of a stock is secondary in the investment decision, you look at prospects, analysts estimates and their past accuracy, earnings progress over time, and fundamentals and why it should appreciate based on this not that it just got clobbered, it is similar to standing in front of a train rolling down the hill and standing on the track and saying it will stop here. maybe it does but if it doesn't you pay dearly, money is too hard to come by to invest like you are at a gambling casino or standing on the railroad track. GLTU I really hope you assimilate what I have just offered to you
That's why I sold all my puts today and bought a few calls for late summer. They have had 2 disasterous earnings reports in a row and I suspect with the influx of cash from the dilution and the dividend cut their next report will look much better