BHP) are trading relative to CLF. BHP is the other stalwart, but those companies have not had the bad news flow of CLF.
I hope this means a floor, but I give up on betting on that.
Many of these buys were by new management who were asked to take a stake in the company. On a seperate note, I often bought stocks on insider buys that turned out to mean nothing for the stock price.
Insider buys or sells by itself is not a good gauge.
You are sounding desperate to change the narrative on CLF for a better SP.
Shorts do not need help from made-up news stories to cover. They are punding CLF with good reason (I say this as a long myself, so I have no bias here). Look at every stock in the history of stocks that were heavily shorted and to suggest CLF is different is crazy.
I can debunk every point you made in your post. If you want to trust in those reasons or SURF's conclusions for a rising SP in CLF go ahead, but everyone who has depended on those claims continues to be wrong. Your arguments have been used to support CLF since $28 stock price last fall.
Surf has rarely gotten anything right on this board, whether that relates to the direction of stocks or world economies or GDP growth or on CLF.
Do not bet too much on the conclusions posted.
So all the NFLX investors who said the same thing, what do they think now. Oh, than ther is ebay and wmt today. How many more examples do you want? There was GILD and JNJ as well, along with the other momo stocks that many people said can not go down ever...
We may need earnings to confirm, but do not get so far ahead of yourself just yet
For that matter, all the IO producers faired well this week, very well compared to the overall markets. While CLF got hit harder than the other prodcuers this morning, it also has done far better than the others. All-in-all, be pleased with how CLF is doing.
Do you think it is a matter of what they say compared to what they do or in this case the fact IO went down well below any forecasts and the amount of time it takes to execute these kinds of plans?
I do not have the answer, but you got to admit that they are working on the strategy they said they wanted to implement: buyback, selling off parts, lowering costs, etc.
I do not watch 60 Minutes. You must not pay attention to weekly and monthly numbers. All numbers have been trending down. What do you think the battle is going on now? It is fears of a global slowing well below forecasts. I have been writing this for months on this board. Right now looks like WS is confirming my conclusion.
On a separate note, I don't insult you and you can keep your conclusions w/o insults either.
They said very matter-of-factly that stimi was not helping or going to work. What are they going to build, more empty cities?
They seem to get it unlike we do in the US. Stimi does not work beyond a certain point, and that point is here and now in my views.
I have been writing about this melt down for awhile, only surprised it took this long to happen.
All the global numbers for two - three months were declining, which suggested a slowing of our GDP as well, but WS ignored this and continued to say stimi and QE would be here a put for the markets.
It isn't working here and will not work in China anymore. What everyone needs is real growth, not artificial growth or earnings beats based on buy-backs and free money.
What propped the markets before is cracking everywhere now.
I've posted the stories on this board when they happened over the last three months, coming directly from their finance ministers and top officials in China. I am sure you can Google them
China said several times this year they are done with additional stimi to cause artificial growth.
That was 10 buys, not 1. Typo problem
It does go to $30 if that is an offer to buy the company. Otherwise, it does not make $30 w/o an offer.
I mentioned $30 because prior to the super-cycle ride to $100, that is a huge premium on its prior valuations and trading patterns. I have no idea what anyone is going to offer, if they offer.
Very much agree with you on these points. On the other hand, selling everything for $30 may not be too bad an idea if you believe as I do that the super cycle for IO is over for a very long time.
$30 share price puts CLF well above its trend line after you back out what happened during the super cycle. $30 might be a great premium.
CAS average price is around $25. Hard to imagine they would take $18.75 for the whole company?
By Over 12%. No love for CLF.
Yahoo uses a 3month avg. I used a 10day avg. We are both right. I just like the 10day better as it catches the current sentiment better for my use.
This is still happening, and going on all day long. There are only spats of smaller incremental sales that knocks CLF back down before larger sale buys take CLF back up. My day trade executed at $8.40 on the stop loss. Not to disappointed though, as I made some back on my overall losses in CLF.