Keep getting knocked back on opt exp, over reach gong into earnings, simple profit taking, consolidation, maybe all the above.
For now there is a cap on this stock while RIO and BHP doing better
Unless the selling is overall market relate concerns or all of this was already factored in?
Overall up 1% since earnings. The gains up to earnings appear to be factored in.
Based on LG 2017 guideance, I suspect more upgrades to higher targets than JPM are coming. Today is opt exp and on a bad tape it will be easier to hold Clf down.
Would like to see a ramp to 8.20 sometime today. Hard to see institutions bailing in a meaningful way.
shareholder wealth and RIO says they can not move forward because IO prices are so low.
What a relief to have their former CEO gone. I remember when he said they would write business text books about him one day. However, the chapter in these books will not be so kind to him. It will be a not to story.
successfully convinced the analysts of his credentials, will they get on board with his assumptions?
Greater than $500MM of EBITDA for 2017. Time for me to keep one position long and traded a second around moves.
LG made a comment in his prepared remarks about basement analysts who get get their info working in their basement. Loved it. He told these clowns to do their homework based upon what he has said and done over the past 2 years.
Then for Essar, he said I am the landlord and we are in complete control. Just need to wait for BK process to complete.
Many of us who were long CLF since 2013/2104 have had our doubts about LG at times. He deserves all the credit. He is prophetic.
Very nice vol though
For now looks like we have that answer. Vol is great, move up is holding 3-4percent. Not sure which way it breaks going into the 2nd half of the day.
Thanks for the article. He Street used his words to maintain their sell rating on CLf
I tweeted him with my thoughts
He says CLF earnings fall sharply but they best estimates. He adds, they continue to face low prices and weak demand from steel makers. I can not get beyond this because you have to subscribe to tread that #$%$.
Just got back from lunch and I see the earnings highlites and will review them in awhile as I have a massage in 30 minutes. Can not wait to replay CC and hear LG rip apart the analysts with his I TOLD YOU SO moment.
We are at our condo in Portugal which is 5 hours ahead of you on the eastern time zone.
I wonder if Clf settles here or continues its move to the JPM $10 PT?
Today it happend on release of the inventory build.
Maybe by earnings we are at my PP of 22
My list of the macro concerns for CLF or global GDPs is a long one and I have posted what they are on this board for awhile. Nevertheless, I have traded CLF YTD several times chipping away at my losses from before. I will continue doing this. I just do not have the convictions of staying long yet.
My worries are also over its debt. Q2 will report much higher production volume on a much higher IO price. Costs and expenses will be higher to reflect that. How much was left over for debt reduction?
Anyways, I would love a story to stay long but until the macro changes, I will trade it because I do not trust it.
Will it be a sell the news event or just the beginning of more upward moves.
There is not enough news on the macro side of things to support more. I am somewhat confused but trading Clf aggressively for gains YTD.
Overreaction or frustration or some have tossed in the towel and lakes away. Last qtr volume was 30Mm shares following its disappointing ER. Yesterday's volume was over 40Mm shares. WS is putting everything on Hep C and not much more. May need to wait for something in pipeline. So far GILD is regarded as a one trick pony on Hep C and nothing more
Would be nice to see WNR at least come close to the lowest price target sometime soon.
mat report on7/28.
If they report something solid and have nice commentary / guideance, I will stay long rather than trade CLF
Nothing to write about really. Now it is time to all play out. Can not even guess on the numbers of lost hours we had analyzing this stock and company over two years. The best thing for me was when I stopped doing it and played the hunches.
Earnings will be good. Expenses will be higher o this report for all the right reasons ( higher production levels) and a higher IO price.
Now we just let it role.
They took it from 100 to 80 on the YTD lows. We may see 89 or better by closing.
Many stocks are doing average or above average vol today. Clf is having its struggles in the 7 - 7.25 range for 10 days now. Buying interest is on hold until ER for clarification of trend or obliteration of stock. I suspect it holds and advances after ER
So far today the tick by tick action is tiny on they buy side and most large transactions are from sellers
All in all a slow day