bail today? Not sure why it is Getty hit this hard, other than the secondary offering came in below the projected price of 7.50ish area.
The 22-25 percent dilution number is nearly hit that she had projected off the secondary, so let's hope this ends the selling. It will recover, just takes time.
Regardless of the actual offering, this takes Gordo's $2 or lower share price for Clf off the table and forever should end thst debate on WS.
I do wonder if shorts renew their attacks on Clf once the dust settles?
on the secondary.
Now, I can not think or remember of any story about its ramp from 1.20 to 8.50. I could be wrong. About this, but funny how they ignored a great story and a great turnaround by a damn good CEO
Yesterday vol was huge. Interesting a action by whomever is selling.
They answered the question during ER why the lower number, and the other suppliers said the same thing. No loss in rev, just a delay on historically bad weather.
Not sure if the selling is crazy or mered, but this insider buy was big and he thinks there is a better story looking forward
Your,wish is not fulfilled yet. To think this is self inflicted. All prior selling was due to outside factors. It likely won't last but who knows for how long. No one should be surprised and the extra 45mm on the offering does not merit the 2 day haircut just seing
I disagree about the guessing part of your statement. This was not news news. Bottom feeder has it right, something odd, or simply retail traders who do not get t.
By end of day we will see who has it wrong and who is right
Wonder if a lot of this is factored in since the ER. As the news hit in the AH share price cratered than rebounded back very close to the closing price before tapering off again.
Since ER Clf has had more days of lower highs and lower lows with some bump ups Inbetween. Traders will figure it out soon enough than I think we march up to VIP's 10 target.
There is a lot of consolidation going on right now and SP is up 6x form YTD lows.
USCR has bounce off 55 a few time this year and promptly resumed its move up to 65 where it reverse and trends back down.
Took another stake today T 55.60. Did not expect it to fall back down to 55. Let's see if the usual trend resumes anything this week.
Now trading 2.6MM shares below the 90 day average in a strong move up only 30 minutes into the day.
Maybe the sellers are done?
Also may simply be some consolidation. Every stock goes through this process following an advance like Clf has had YTD. Question is which way it goes. So far the trading is predictable since ER. It rises than falls back like you said. It's given me many decent trades.
Just flew back into the states for awhile than will head back to Portugal. Would be nice to see $10 before I go back.
It looks like risk reward favors reward. The 52 week low is a few bucks from here.
WS does not like to be disappointed. They did not have this much priced into thst one drug, did they?
Now he has to fix it and he says he is focused on shareholders. Let's see?
If they are focused on shareholders they will not be overproducing again.
Not that I care what they have to say, but when they recognize what has happened, it s well past time for the remaining shorts to cover.
an overall market that is going on 8 days of selling pressures on the indexs.
Some holding Clf who would have held if the markets were stronger are now selling their shares.
Higher IO prices is not helping much. Hope it holds 8.
Finally get what we want but WS is hitting everything today.
We still have a 5% pop though
Many of those analysts most likely have a bias to protect, which is their larger than life short interest positions. For the reasons we both stated, I suspect your call is spot on. Time will tell.
This is one of the first times in a long time the overall macro may have less to do with Clf than at any other time in recent history.
Thanks. Certainly appreciate your updates. IO will have to drop 40% from here to meet most analysts predictions of 40 IO for 2nd half of 2016-2107
forecasts for 2017 avaages around $45.
Many houses believe the current ramp is unsupported for long term.
They missed thie current YTD ramp entirely, having had a very low cost basis for all of 2016, so let's see where it goes during q3 and q4?
Look at how bad they judged the oil price decline and the rises since the oil crash began in late 2014, I suspect they get the direction of IO proves wrong as well. The CEOs of the major mining companies changed some leadership and they said or hinted that their strategy of overproduction f market share was flawed and it failed shareholders.
Whatever metrics those analysts are using to model prices so low for the balance of 2016-2017 could be all mangled up guessing, just like LG keeps reminding them at CC.
Prior two qtr were disappointments. Hope it surprises to upside tuis morning. Stock took a kick in the teeth for that. Let's see if it resurrects itself today?
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