Its all a game. Right now CLF is in an out of favor sector and it won't go back to $100 until the 1% decide to roll into it. Same with oil drillers and all mining stocks. I use to go to the Masters and some Wachovia golf event in Charlotte and see all of the rich white people and wonder what they do for a living and how they can live like this. I couldn't even enjoy the scenery cause of knowing that at the end of the day i'm going back to doing grunt work and driving my ford escort while they're going back to their million dollar mansions and BMWs.
Would the world be covered with water if you melted the ice caps? And if so then how hot would it be on average in certain spots in the world? Also, until they can figure out how to make something out of nothing then you have to believe some deity created this universe or multiuniverses. I watch Cosmos, The Universe, and read about string theory, etc but nobody has the foggiest idea about how the world came to be. The big bang is explained as a black hole gaining too much weight(bending space time to its breaking point) and eventually breaking off from an existing universe but then how did the original universe begin? I don't attend church anymore as I view the preachers as lazy and using the book of revelations to scare the hell out of their congregation in order for them to get money to survive on. Most of their houses(2nd and 3rd homes) are better than my little cottage yet they're suppose to be living a very modest life. It would be nice to find someone with answers though.
Here is a perfect example. DRI and DPZ. Both are close in market cap and growth rate yet one make more money and pays a better dividend. Which one is $100 and which one is $60? I don't understand the rationale but I do see the momentum time and time again in stocks because of perception. Momentum is against CLF and the entire mining sector but once perception changes CLF will be a $100 stock again. Don't make the mistake of cashing out at $8 or $10 because you have a 25-40% profit. This one has huge potential.
and when this thing finally gains favor on Wall Street it will soar. It could be next week, next month, next year, who knows. Ive seen too many stocks that just sit forever at a depressed price and then rocket to the upside with the only reason being perception(hype). CLF has done the necessary cost cutting and when iron ore rebounds it will finally have its day. The hedge funds will no longer be able to control it and cover their short positions.
My mouth is wide open at the paper loss on AA today just on a JPM downgrade. I mean GM blew numbers out of the water last week so that will only help AA's new aluminum chasis and prices. They're also in aerospace now and earning's estimates have gone up over 15% in the last month. No doubt the market is fixed now by the big boys. No doubt. Anyway, congrats on those that filled up on oil drillers last week. What a nice hedge to fight rising prices at the pump. :-) BTW, don't tell anyone or people will absolutely hate you cause I learned this the hard way. Misery loves company and nothing is more miserable to the average joe than seeing gas prices go up.
They did however cut their special dividend of 75 cents and are only paying 12.5.
DO made 72 cents beating expectations by 6 cents. I'm sure WS will see this as a negative somehow.
Speaking of hedges.....are most of the people short CLF also long RIO and BHP? I know Cramer use to play this way back in the 90s. He'd be long Cisco but then short 3COM and Ascend Communications because he figured CSCO was the "better breed" so it will outperform on the upside and not go down as much in a recession as compared to the other 2. However with CLF, you're basically betting that CLF is going bankrupt or seriously dilute the shareholders with a secondary offering because there isn't much downside left in the PPS.
Also in the oil sector, a friend of mine invested in VOIL which supposedly has one of the biggest oil fields in the US in Utah. Maybe worth one of those lottery tickets you all talk about but nothing more.
I really don't see where you can go wrong with an investment in Transocean. You get a .75 dividend in 2 weeks with the possibility of oil going to $200/barrel. Even Carl Icahn invested in it when it was $50/share. I was wrong with CLF though so maybe I'm just clueless.
Clearly this is in the same situation as the other commodity traded companies and will soon start heading higher. They overextended a few years back but did the painful but necessary steps to cut costs at the bottom as well. Now all we have to do is wait for the reversal sometime this year. GL to all.
That is all you need to know. I actually like Jim Cramer but the stock market is a tough game to play and CLF has been a disaster for him. Good job CLF longs and here is to a new beginning.
My response to that is to never let yourself get in that situation to begin with. You gotta bring the pain every down and blow the team out of the water like we did to Denver. However, New England was smart enough not to challenge the secondary and hung around in the game until yes....Carroll made a huge mistake. My thought immediately after the interception was that Wilson wanted the MVP for himself because Lynch would of gotten it had they ran. Lynch was even wide open in the end zone on the same play to the far left. Anyway, word on the radio is half of Seattle didn't even go to work today, lol......still watching the play over and over and over again in a drunken stupor hoping for a different result.
someone finally figured out how to beat my Seahawks. Its not pretty to watch but effective. Little 6-10 yard passes all the way down the field until you score. I'll never forget Richard Sherman's expression either when Wilson threw that interception. That was priceless, lol. He should be a movie actor when he retires from football cause either you love him or hate him.
$25? I was thinking $100 in a couple of years when the economy gets back to normal.
That is an opinion from one of the dudes actually manipulating the oil prices in the far east. I've always wondered if they buy oil companies at pennies on the dollar when things are going to pot knowing they can turn things around on a dime. American Greed on CNBC even showed where they sold put options on airlines before 911 in San Diego, California. They say we're oil independent but you see how quickly OPEC put Texas and ND out of business. I've heard break even costs in the middle east is $10/barrel. Off shore oil drillers is around $40/barrel. Fracking and land drilling is closer to $60-$70. Just trying to figure out how to play the game.
speaking of Sheldon Anderson, I heard a fabulous rumor when I was in Beijing back in 2008. I heard that for him to get a casino built in Macau that he had to get China the Olympics. It makes sense cause why in the hell would the Olympics ever be held in the dirtiest city in the world? I wish someone would let me in on when online gambling will be legalized in the USA.
Yeah I deliver kitchen cabinets and South Carolina is no where close to 2007 levels. The difference though is the houses being made are HUGE but on 1/8 to quarter acre lots. My southern plantation mind can't come to grips with that though as I'm use to these type houses being on a minimum 5-10 acre parcels. What good is a nice house if you have no privacy. I swear you can't even leave the driveway without worrying if 5 or 6 houses around your cul de sac are waiting so they can slip in while you're gone. It use to be that if you had money then some intelligence was associated with that. Now you can't distinguish the blue collar from the white collar workers.
except now its the commodity crisis. You've got a bunch of vultures flying around waiting for companies to die so they can pick apart their parts in bankruptcy court. I see it around here with the winners living in mansions on the lake while the losers are pushing their carts down the Aldi grocery aisle cause they don't even have enough money for Wal Mart anymore. Its why 1% has all of the money now. The good thing is Casa took over soon enough before CLF died.