OHT, nice to see you still post even on up days. You better get used to it because the trend can change real quick...And short covering, scrambling huge possibility here.
Wow what price action and volume today...Should be fun next couple of days and looks like buyback may be coming after all...Stay tuned for tomorrow, I think 10AM? Anyone can confirm please?
If you guys remember my first post on CLF....I apologized for price going down stating that when I invest heavy into a company the MM's punish me by pringing price lower and that is why I buy in increments as I learned my lesson over the years. I also stated that the good news long term is my investment usually do very well hence CLF is still a TBD as my average cost price is around 3.75 to 4 depending on core vs trading shares. Now my next piece of information on CLF was a strong gut feeling about what LG knows and what he can do...Usually my gut (intuition does not fail me)...Good luck to us longs!
Please give thumbs up not just for this qtr but long term if you believe LG will turn this poorly managed company around? LG is the main reason I invested here especially after I heard him on earnings call Q1 and the steel conference. He knows whats up and that is evident!
Sentiment: Strong Buy
Exactly escart, the issue is it seems like such a huge return with the way the brought this down artificially....But have to look at the bigger picture long term!
Short have been having a feast but the music is about to be over in the musical chairs game and longs will be in control soon...I still see an epic squeeze possible in the next few days...My only concern is not too sell to early because of a quick profit...The price was dropped so artificially low that 50% increase seems great but it is way too little for where the price will be! Only way is to hold long term...
I am so looking forward to hearing a confident, informative CEO put these dumb analysts into shame....Its very evident we have a knowledgeable CEO trying to talk to dumb analayst who are either playing games or really that dumb.
Goncalves has stated that CLF will supply Nucor (NUE) with DR pellets (#msg-115154401), presumably after CLF builds a DR pellet facility somewhere on the great lakes, possibly in Minnesota.
Importantly, unlike STLD (#msg-115584532), NUE considers an active DRI presence an important hedge against a possible (perhaps likely) rise in scrap and pig iron prices (see CC quote below).
CLF would not be the only source of DR pellets for Nucor. Indeed, NUE has recently constructed an in-house DRI facility in Louisiana and has been running an HBI facility in Trinidad for several years.
The question remains whether NUE would be willing to collaborate with CLF in developing the DR pellet facility envisioned by Goncalves (i.e. will NUE supply funds for capital expenditures)? It is difficult to predict the answer to this question… However, I interpret NUE's CEO statements in yesterday’s CC to mean that he is open to further investment in DRI infrastructure (see CC quote below), albeit he gives no hint as to whether such investment would be a collaborative project with CLF or any other entity.
Quotes from Nucor’s Q2 Earnings Call of July 23, 2015
Quote:Regarding DRI as hedge against scrap and pig iron price rise:
Matt Murphy – UBS Securities Canada, Inc:
Okay, thanks. And then, I guess, the one other question is when you talk about the flexibility DRI offers, and I appreciate it, it probably plays a role with helping the current pricing environment and the scrap market. But presumably the flexibility means you run it hard when scrap prices are high, and you maybe don’t focus on it as much when they’re low. So I’m wondering how you’re thinking about your raw material strategy as iron ore spirals and maybe we see some more weakness coming in scrap.
John Ferriola – Nucor CEO:
Well, you are exactly right. It gives us the ability to switch back and forth and which area we want to press, whether it’s in scrap or whether it’s in DRI, depending upon what the cost
with good earnings, guidance, vision of profitability, and buyback the chart and ship can turn quickly on the dime. Couple that with large short position and this can explode. Last time I say this possible setup you have to go back to July 2008 when LCC hit a low of 1.45 and in the next couple of day was up to five. In the next three weeks it hit 10 before retracing back. So it is very possible and there is a precedent that I already know of.
On bankruptcy and $1 dollar value...We are getting real close for reversal..Time to start adding to existing positions..
schmickermack, that is exactly what a seekling alpha article is saying today. Just curious what your thoughts on CLF are long term...Thanks in advance.
I hope you guys are right...I will be adding even more to my already large position to cost average...only leads to better retirement long term with more shares...:)
I filed the complaint and got off the phone with Finra at 11:30
I briefly showed him examples and who the MM Axe was. He stated he could not comment on anything or their procedures but suggested from the obvious noted bear raids with one in progress that hedge funds trading CLF were going on notice.
Then look what happened. That wasn't by luck, I can assure that and my call timing is no coincidence.
I can easily see this at twenty plus two to three years from now if not sooner...with the price as where it is now that is an incredible return and possible retirement for some...holding and waiting out the BS going on...we have a CEO who knows the business and investing his own money into the company.
Sentiment: Strong Buy
I am still not convinced that manipulators will let this this pop up for too long and too much....I think they will sell it down quickly....any thoughts on this...I see mid threes the most only because ion bs nothing else