Materials are being killed right now but Clf specific, they hit that with a nuclear bomb since the secondary. All the news on IO and materials is negative right now. Just like that, WS shorts are changing the narrative and some very big house have very bad press out on the sector.
i doubt the majors start down the same road of over producing IO again. The strategy they had failed and some CEO heads rolled. Thst won't happen again.
I am not happy with LG letting this bear case raid happen in silence. He gave us a 40% loss in the span of weeks. Yesterday's outsized downside move was massive compared to rio, Bhp and vale and steel stocks in general.
If LG strategy is a trashing on the bond buying program he needs his head rolled as well as shareholder lives do not seem to matter. I know he is trying to save a company but this is ridiculous.
he had planned following the placement?
It does not look like it is getting better. The narrative as writen by WS is a negative story. The prevailing view that materials got too far ahead if themselves. A lot of misc things clubbing share price to death again.
I really would like some commentary by the boss ma to shed some light or create a bright and better story for Clf to counter the news that is killing this for now and likely renewing shorting interest.
This selling is beyond options and beyond fundamentals it seems.
He said it would happen over th next 4-8 weeks one week ago, so now ver next 3-8 weeks
He will be wrong again. He won't quite or give up on hunt ing Clf. In the past he had an audience. No longer though.
You are correct. They will not let go of this view for IO much lower prices.
So far they got all of 2016 wrong by $20 at least YTD.
All the press today is all of materials got overblown to the upside. Will be hard to catch a bid if this is the consensus.
Only one analyst and LG got it right so far and they are sticking to their guns while these analysts are sticking to another view.
So long as IO remains in the 50-60 range and demand does not crater, wth the recent long term contracts in place, the tariffs doing their own thing, limited dumping, interest expense savings, cost cutting measures Clf is famous for under LG, the prospects of seing a $10 share price in 2917 would be your ticket to bail if you can until it's future debt is resolved. These are a lot of "what if's" here but the playbook looks as bright as ever.
This dilution took a hell of a lot more out than I thought on an offering price that was $1 lower than I thought when I went long again just before the offering. My luck?
One thing about Clf, it will make you hurt more than it make you happy.
We will know in a month when new short interest is published for this current period if the shorts are back to work off the dilution but to short it here on all the above factors makes little sense.
Anyways, it's Clf so who knows?
At some point those who jump on his news releases and pulls the trigger on Clf will finally see it and ignore him. Does he have a personal grudge on Clf?
Wonder if GJ was long Clf one time and got burnt s he will never release his strangle hold on the company. Some people are weasels, he tops the list. At this point there are so many other candidates in the markets to go after but GJ refuses to let go.
May his short position blow up on him starting today.
Yeah, hurts. Finally went long rather than trade it for 9000 shares at 8.02. I will hold it now throu year end unless some market moving factor shows its ugly head because Clf will get harder than anything else out there if a macro or micro event occurs. Watching very closely from here on.
Funny how Gido Man used a bad China in making part of his negative outlook today on IO, Clf and X.
I posted about this earlier today. He calls for a specific short on X and on CLF. He never gives up. His time frame for a YTD low in IO pricing is 4-8 weeks from now. We will know soon enough. He needs to whither away if gets this call wrong also, just a s he has on every call YTD.
He picked a good time for his report wi market uncertainty and the secondary.
As he said, nothing due for 4 years. Saving approx $68MM in interest expense during this period. So what are traders thinking....I wonder if they are putting more weight on Axiom call for IO at YTD lows over the next 8 weeks, per his release yesterday, as the materials getting destroyed today
Also a lot of worry about recession and a confused fed who has no clue what they are doing or will do next
If that happens, I see why Clf will need the cash. However, that appears to be a stretch. I sure hope he has it wrong.
Hope so. I asked the same thing last week following a 25% pounding.
Some clarification about how it went, how funds will be used, updated forecast, anything to change the narrative.
I can not imagine this is what Lg wanted to happen but it did. A self inflicted take down. Now LG needs to provide the message and narrative that shows how the secondary plays out.
No one here wants to see renewed shorting in Clf.
Shameful of you. Very scary for you to think that HRC murderous coverup of Bengazi is okay, along with her relentless lies on emails, the DNCsabotage of Bernie, the criminal aspect of the Foundation (my opinion), many murdered people recently involved in the DNC matter (oh, that's simply a coincidence), and my two favorites, "what difference does it make anymore" and the blame it on a video statement.
If all of these are okay with you it is a worrisome matter. I will risk Trump any day or anytime over e lying #$%$.
From everything LG has said and done so far, I do believe what you say is correct. This current beating in share price is something no one expected or wanted. We had thought there would be a better price for the secondary, but not so. It is hard to image this is what LG wants. A short waiting period will tell.
All metrics suggest better days ahead. In another month when the short interest report comes out fr this period, we will see if shorts are resuming emir attack on Clf but that seems a stupid thing to do.
There is always something with Clf to knock down shareholders. In the past is came from outside the company. This time it came from the inside. Maybe this is the last kick in the butt for longs, but with Clf who the hell knows. We are used to having our teeth kicked in.
Very frustrating to see so much taken out. Even more frustrating is that it did not price at 7-50-7.75
I do not think shorts are going to play this. All the variables the used before to ride it down are not in play anymore. IO prices will stay higher than all analysts predictions. Demand is up. Imports are gone. I hope I am right on this or we are in for a rough ride if they resume shorting it as aggressively as before.
I hope on the 16th LG comes out with a release to update the story, explains what they secondary does and how it helps the company. We need some good news and some important upgrades here to recover from an azzzzwhopping
I like wha they said in the narrative portion of the release about improve and rising IO,pricing market, etc. this should take off the table the concerns by some of IO below 40.
They also mention a better demand story and cost cutting measures. Is dilution bites for now and I hope the impact will be shirt lived. I do not know why anyone will hit it short again. Over than dilution, all other variables that were a negative and a reason to short before seem to be removed.
Anyhow, I,ver had Clf wrong more than right.
Someone is putting s ca on this for now
by year end I get whole on two tears of misery
Hard to say this is the strategy. IO prices will not drop to their former lows, they know this. Either candidate is going to do massive infrastructure spending next year. We will know in a month when short interest for this period is reported.