let's take it nice and easy before we get downright hysterical....2 of Clf's operations, NA io and AP io make money....their Canadian operations and US coal businesses don't....Bankruptcy is not happening, as the company just renegotiated their debt covenants...is it a painful time for the company????????ya think!
however, over the last year, Clf has reduced capex, reduced overall debt by a billion and has idled several non-performing assets...all this in the middle of a commodity-cycle downturn...now, going forward, new management's goal is to get even leaner by selling off several operational assets and focusing on the profitable domestic io business....Clf is the biggest producer of io in this country and has most of it sold through long-term contracts....
I'm not saying that things cannot get worse as far as the share price goes, but I feel confident that going forward, the stock can make-back some of the massive shareholder destruction over the last 3 years....I have had skin in the game for the last 2 years, and even bought some more last week....I still believe in the story...if that changes, I won't have any hesitation to sell out of my position as I am not married to any company or macro/micro storyline....
moreover, the divvy pays me a lot more then any bank will these days!
pure nonsense...all of their negative articles conveniently omit any facts about the revenue history of Clf's assets and the coal-generated power issue in this country!...40% of all generated-power in the US is coal-based....many of the smaller miners will probably go out of business/consolidate over the next several years...solar/wind will not be mass produced for mass consumption at an affordable price for many years, if ever!....Barron's with respect to Clf has no credibility..
fact: Asian-Pacific operations continually make money, and even taking into consideration the mines finite nature, should be easy to sell to some Asian concern at a good price....
moreover, if Barron's predicted the massive downturn for Clf 3 years ago when the stock was over a hundred, I would probably have some respect for their opinions....at this point, they're just like most ANAL-YSTS, johnnie-come-lately.....
happy hunting to all!
down and down she goes...where she stops, nobody knows...probably better to wait to see some type of breakout....I know that word is foreign to Clf....before buying a few shares for a trade....tried last week at 15.15 and got stopped out early....waiting to get back in....
couldn't agree with you more...the problem is falling in love with stocks and not being able to sell....making money, risk management and building wealth should be one's goals in the Market....not holding on to stocks forever, especially when the macro/micro stories behind the stock changes....I too, would love to get out of this POS with a minimum loss and move on to other areas of the market, even though Clf is a very small portion of my portfolio....
people on this board should be happy that at least someone is in charge that wants to increase the share price....buying back stock, selling off assets and further reducing debt are issues that current management appears to be tackling....who cares if this company will be around in 5-10 years?
that is none of your business, but like most here, I am a suffering bagholder...I did make several purchases this week though at 16 and then at 15.15....I try and build wealth slowly, over time....I don't get hysterical and have a long-term horizon....I'm betting that several years from now, the stock will be significantly higher....moreover, Clf is a very small part of my portfolio!
if one does not have a plan, patience and discipline, then you shouldn't be in the market!
if your a long-term investor, believe in the company and have a multiple year time horizon, then days like these should be welcomed....an opportunity to buy cheap shares!
if your a day trader/swing trader, then use a tight stop market-sell order and take the emotion out of the trade!
if you think that the company is bogus and will go bankrupt, then you shouldn't be here!
HYSTERICS/FEAR/GREED are for the 90% of the retail investors/traders who consistently lose money!
if you believe in the company and the global economy improving and your a long-term investor, buy some cheap shares, relax and collect the divy and put it in the draw for several years....
if your a day trader/swing trader, then set a tight stop and take the emotion out of the trade...
if you think that the company is terrible and has no future, then what are you doing on this board!
if you think that 3 years of shareholder destruction is going to be rectified in 1 month, then you shouldn't be in the market!
the volume was actually quite good given that it's the last week of August when many people are on vacation and overall trading volume is extremely light...
why would you want to short a stock with a 3 month chart from the lower left to the upper right with higher highs and lower lows????????????especially since this is a favorite momo stock with MM's right now!....your probably also shorting Clf since your favorite carpetbagger's are no longer in control??????????
man, you change your tune faster than a new York minute!....weren't you calling Casablanca just yesterday just as bad as the prior corrupt carpetbaggers!!!!!!!!!!!!JUST HAVING SOME FUN!..............patience and discipline when investing in the stock market are great virtues....3 years of shareholder destruction can't be remedied overnight!........current directors are taking positive baby steps and appear to be more open about things....
I feel very optimistic going forward and bought some more shares yesterday at 16....12 months from now, hopefully the share price will be considerably higher............take care!
anybody who thinks that Casa is not serious about being made whole with their investment is seriously mistaken!....
I am very amused by all the naysayer's on this board over the last several weeks, who expected the share price to go to the moon immediately!....Wall Street will need many company moves like today to begin to feel that Clf is once again "AN INVESTABLE COMPANY, rather than just a day trading stock....
Casa has started to do what the old carpetbagger's were never willing to do: TAKE ON THE SHORTS!
if people can't see that Casablanca means business, then they should not be in the stock!....buy low and put your shares away for several years....you will be greatly rewarded!...jmho....
....the best use of our capitol, agreed upon by the new board, is to invest in our own business............."
in one month, Casa has done what the old carpetbagger's were not willing to do: START TO TAKE ON THE SHORTS"....by buying back company stock!.....anybody who thought this new management was more of the same,was seriously mistaken....
...however, I'm sure Casa's detractor's will be able to find something negative about the buyback!
I guess you just throw darts against a board when you pick stocks...........LOL..........also, please don't disparage "banana whacker's" as it is extremely hard work!
I know...just when it appeared that we had gotten rid of the ole riffraff, all these newbies or oldies with new alias's have taken their places....it's like a bad itch that won't go away!...LOL
the pitiful truth is that the shareholder's, at least enough of them, voted to extend the current compensation package for these corrupt carpetbagger's...is that crazy or what!
the gist is that several days ago, the board held it's first meeting via telephone...Sullivan was taken back and irritated by:
(1) newbies unwillingness to recognize how much Halverson has done for the company, and
(2) how the new board member's were only interested in implementing "their pre-scripted plan", and would not listen to anyone else....and
(3) in good conscience he could no longer represent the shareholder's
the letter was very short and did not mention specifics, except for stating that in all his 38 years of board meeting experiences, he has never witnessed such a display!.
good weekend to all!
look....they have been in office less than 2 weeks..can't you at least see how this will play out in the next 30-60 days?....it took 3 years to destroy this company and will take time to turn things around...in the last 2 weeks, they announced the opening of pinnacle mine (probably with the intention of selling it down the road) and forced out one of the old carpetbagger's to resign.....patience...our team won....now, let's see what they will do!
hey dude...get a life...you seem obsessed with my post...while I'm flattered that you keep quoting me, it's a little bit scary that your fixated on it!...what is your point!....do you even have any skin in the game?....do you have anything more constructive to add to this board?...you seem to be a frustrated newbie that needs to be assured that he#$%$ is right!....have a good weekend my friend!
ps...instead of talking nonsense, if your a long-term investor in Clf and like the story, then use this weakness to pick up some cheap shares....we are all in the market to make money, NOT GET OUR ROCKS OFF!