I truely think he lost his money in CLF when CLF was $100 because he always goes back to that number w/o any regard to what has happened to all the stocks in the sector or the material sector in general following the commodity super cycle bust.
He comes across angry, bitter, narrow minded and singularly focused on CLF that he does not see or comprehend another variable. The instant CLF sells off he comes out with anothger rant on CLF.
And yes CLF could be basing, like apple did, as basing has nothing to do with the company, it has everything to do with changes of perception for the company going forward and there are many other examples of this beyond apple. These all take time and have similar patterns, and CLF could be in this pattern now.
I won't argue with anymore, just ignore your comments from here on. I said before these are not companies to be compared, only how basin works. You simply see what you want to see and miss the entire debate outside of that. My final comment to you is be happy, you're short you said. Enjoy and be wrong.
Fighting is escelating in NE Iraq and Lybia and these are large producing regions for oil. While this is helping oil prices rise for now on supply concerns, Iran could be bringing a lot of oil to market soon if Obama gets his dumb deal done. For now the rise may be more about supply disruption.
Ultra deep-water specialists are also a difficult recommendation, but their specialty is far less competitive. There are truly a limited number of rigs that can handle projects destined to drill three miles underwater or more. While it is true that the number of new projects in ultra-deep-water are not destined to increase until mid-2016, there are only the very few of these that the oil companies can rely upon for specialized rigs. This includes Transocean (RIG), Seadrill (SDRL) and perhaps Atwood Oceanics (ATW). In trying to get ahead of the next up cycle of offshore drilling, this is where I would concentrate.
I wondered some of the same. This action was planned ahead of LG inside buy or something changed since the first offering. We are missing better clarification on its purpose and WS may tell us today what they think (favorable step or a desperation move) or maybe it follows the trend of Logan and something massive is in the works on BL. What else has that kind if value?
Did you miss my psot earlier today about Apple basing 40% below its 50dma for 6 months from Jan 2013 to Luly before it popped. At least CLF is at/near the 50dma, while Appple was way below that. Look it up than give it up.
Jsut shy of a double from the initial. Damn. What are the implications of this? let your minds run wild.
Cliffs has also increased the maximum principal amount of 6.25% Senior Notes due 2040 that will be accepted in the Exchange Offers from $325 million to $400 million. Accordingly, eligible holders must validly tender their Existing Notes at or prior to 5:00 p.m., New York City time, on March 11, 2015 (the "Early Tender Date"), in order to be eligible to receive the applicable "Total Exchange Consideration".
It was supposed to be a surprise. Thanks for the laugh. I was away since 11am and just now catching up on the day. Looking at vol and the spikes, that was heavy today. Looking at vol on the sell down, all that was much lighter.
I got in on November after the carnage, so it did not hit me. The point is this, that no oil CEO's saw the collapse, and the honest ones have said so.
Look at CLF with momentum indicator on a one year chart. Today could be the first day since September last year that it goes positive. ITs also starting to crawl out of oversold territory. How long it lasts who knows. But I do think the days are numbered for shorts.
the move up. Total shares so far at 2.4m and last week we barely had that at noon time.
rewards. Many of the larger funds have said they are doing the same. So where is the buying going on - in storage? You'd be hard pressed to find many stocks in oil sector getting any love.
Wrong, and we'll see very soon where it's really going. I can not think of any stock that based with a short interest like CLF. This is winding down and that all changes.
Name one CEO that did? All of them today are scrambling to cut cost/expenses. Many of them were getting loans to expand before the melt down. They REALLY did not expect this, otherwise they would have made those adjustments sooner, but they did not.
You are drifting along with the trade of the moment. Darn near every morning the sellers hit it like this. Maybe it is new retail shorts hitting against the prior days closing price but in the end, week by week CLF is moving favorably, not negatively. I see it basing, you see it failing. Bases take awhile to build as this activity is normal for one if you bothered to study them on other stocks.
I know where you get these numbers from and I check them occasionally, but of late they do not square with what seems to be actually happening.
he still represents the company view on things, despite what you may think of him personally.
Well before the turmoil hit oil and hit everyone. Do not forget NO ONE knew any of this was coming, none of the oil CEO's. NO ONE. They made the adjustments they had to make to survive after all #$%$ was unleashed on everything oil. Be thankful they made the changes so they can survive going forward.