spot Iron ore 140.60 yesterday in china....Morgan's call is so BS ! Time to buy!!!!! JPM 40.00 price is realistic
Alls I know is the BS coming out of wall st makes me sick...how can us small investors buy and hold when MS can put a 10 dollar target out and downgrade just because they didn't get to underwrite the last cap raise at 29.00...market cap of 2.8 billion now with a 3% div...2 yrs earnings 2010 and 2011 totalled 2.6 billion in net profits...I have talked with Investor relations and they are on track this yr for 1 billion in ebitda...and MS statements of the other mines coming on line dropping IO to 80?? also ridiculous.....REBAR in China today hit the highest since March...Cliffs is to cheap and we could wake up being owned by one of the big boys...I am holding ...good luck to all ...it's been a rough, rough year
Short interest as of 3/28 was 36.5 million shares - 25%!
What a squeeze we are going to have! Earnings are going to be better than lowered estimates and it doesn't quite look like the shorts thesis - slowing China due to anti-inflation measures - is going to come true. President noted in last cc that spot rates were good and if it kept up q1 might be a surprise.
Watch out above! Thank you Mawsii for the iron ore info.
Agreed....Market watch just came out that Cohen bought 3 million shares recently...new filing...maybe now the other big funds will follow...upside is huge...risk reward also very, very good risk 1.00 to make 10.00 plus !! maybe 20.00 this yr..good luck