Zacks news was ignored all day yesterday and CLF had no benefit until after the market melt-up occurred after 2pm.
As for todays trading, VALE, RIO and BHP are at below average volume levels while CLF is above average volume levels. Perhaps most of it may be some short covering, and IF they do the until year-end, because they will not want to create a buying panic, we may see $28 again by Christmas.
I have a vivid imagination...
Suspension was a good thing to do. Nearly everyone has already shelved new projects/expansion plans for 2014 and beyond. The demand is not there right now. To fund something like this would likely kill CLF or any of the others who in the same boat. CLF does not need to spend more money. They need to harvest what they can from what there is. I think the managements of those businesses understand this better than we do, and will defere to their judgement.
day. I have nothing else to attribute it too, unless some feel that CLF is oversold compared to its peers.
I do not think China is a problem. i think WS worries that it MAY be a problem. WS is not sure themselves. However, they tanked the FXI (and materials that need a China growth story) because of it. I think as you do, but we are not the ones who will make CLF go up with our smaller investments in the company.
and the entire materials secotor. They went up and down together in perfect sync with how WS views China. Right or wrong, that is what seems to be happening to these stocks.
IMO CLF (and materials in general) are priced by WS for N. America, Europe and Japan. China is the foot on the throat for the entire group that is choking off upward momentum. Until WS changes its mind about China, I do not see any significant movement for the group.
CLF might be able to buck the trend if they came out with a PR or market update on anything that has already been written about on this board, but not much else will help CLF for a bigger move up.
Maybe yesterdays housing data will help out for a small move up. Maybe Fords comments this week about lower gudieance for 2014 offsets the housing data.
Whatever is happening to these stocks seems to be correlated to China.
pattern to that of CLF and the materials sector. Both CLF/Materials Stocks and FXI started their runs to the upside at the same time in July and both started their descents one month ago. The correlation is interesting.
Did all the materials go down when WS changed its mind on China's growth slowing? These mirror each perfectly. I understand how the materials sector will trade in tandem, but throw in the FXI which represents more than the materials, this makes me wonder how much of CLF decline is linked to how the FXI behaves?
last month. Regrettably, this applies to IO, coal, steel, copper and other base metals. For now, there is a lid on everything. 5 of my 7 stocks are in this sector, so needless to say, it has been and continues to be a bloody month. CLF down another 1.2% on day, worst of the bunch.
showing momentum getting close to turning positive. Until this happens, CLF will not go up in price. Of course it could resume the downward trend, but I hope the reversal goes to the upside. Zacks said it could happen in a matter of weeks with its update today.
What ignorance. Why do you post here on JPM? The best thing you can do for yourself is educate yourself on what caused the collapse and why. Look to the idiots in Washington (democratic leadership at the time) who forced these banks into making loans to people who should not have had them.
Also look to these same idiots who boasted to the media/new outlets how great they were because homeownership in their districts was at all time highs because of their wonderful leadership and the laws they wrote when banks did not comply.
Stupid comments from stupid or uninformed people is a spooky thing. Yes, the banks had some blame, but the driver of this policy came from the idiots you elected.
Thanks for the post. Just looked it up. Zacks also said they fully expect the price in CLF to move up in the WEEKS AHEAD.
I like what they said here. Often times analysts will say in the year ahead. Zacks thinks in the weeks ahead. This is a rare thing.
I caught the end of a report on FOX business news two days ago about how China is doing and will be doing throughout 2014 massive investments and project in Africa, along with something (I believe) in the Netherlands. Maybe some of the demand is for stuff going on outside of China by China and for China.
We are seeing similar trends in home construction here in SW Michigan, but most of it has been for the second home market from Chicago for the past two years. Now we are starting to see it for primary residences, which was a very slow thing to develop since the melt down happened.
I am very close to a semi-retirement mode myself, looking that day within the next year or so.
The point, I suppose, is that the world isn't ending based on your doom-and-gloom posts. TOL is trading 12% down from its 12 month high and 8% up from its 12 month lows. It is in the mid range of its 12 month trading range.
I would agree your comments for now as the entire sector, along with all materials, are still in a downward trend and until that changesCLF will not rebound UNLESS they do something that separates them from the pack, maybe doing something like what Surf is recommending.
I just dislike simple comments or criticisms about CLF when they ignor what is happening to the enitre sector. Look at the home builders today. Outstanding news, but WS pukes them out because....who the heck knows, they just are.
tomorrow, there may be no direction but a downwards drift.
did do this in tandem, for the first time now it appears that CLF is doing the opposite of the sector, especially in percentage terms. Any thoughts if CLF was over priced at $28 based on its fundamentals as WS sees them,. especially in relations to its debt?