No that's not the case here.... We were well on our way to heading north when CLF got downgraded and it caused the previous selloff which had just ended to continue.... there's no doubt in my mind that we'll see $8 or close to it in December... it freaken COLD out, it's coal season, coal will be around for the next 100 years therefore we should be heading north quickly.. on ANY positive news ACI moves up quickly and I truly believe we're there literally any second which is why I haven't sold and am considering adding here.... this is WAY oversold at these levels.
I would say that those that have lost lots on ACI have likely already sold-off what they wanted for tax-loss selling. Not sure what the rules are in the U.S. but in Canada, you need to be out of the stock for 30 days before buying back in otherwise it's superficial loss that can't be used to offset gains. That said, the bargain hunters are coming in now to pick up the decimated stocks with the intention of selling in January when the cap-loss sellers come back in. I think we hit $9-10 through december and January we play with $12 and hit $15 before the end of Q2 before intermediate term consolidation (sell May).