The "pain trade" suggests this could be pinned at $10 by tomorrow for options expiration. Shorts got greedy.
Broke resistance today. One month high. "Analysts" who called for $1 stock price never taken serious.
I would not be surprised to see this stock trading up near $10 in a matter of 2-3 days. Nearly 50% short interest could result in a FAST and VIOLENT move UP for the stock.
Not sustainable. Has all the classic markings of a "pump and dump". Too much too fast. Expect this to be a lot lower next week at this time when the big boys have sold and made their profits off the little guys.
He said he has his weapon in his desk drawer and ready to pull it out an BUY tons of stock if the Wall Street crooks drive the price down ....and they HAVE.
He mocked an analyst for suggesting a $4 price target, so I think he pulls it out if the stock hits 4. He is losing the battle now, but I'm hopeful he can win the war.
I'm buy here (.90) and looking for a snap back this afternoon.This does not appear to be a news driven crash. if this reverses to the upside by end of day and closes near $1, it might represent a technical short term bottom.
This announcement is really NOT a surprise. It was openly discussed as an option during the recent conference call. The impact over the next 5 years is NOT material to the survival of CLF. It actually puts the company in a much stronger position to focus on their US operations, which remain profitable.
Sure, It would have been nice to monetize the Canadian operations, but the real focus now needs to shift to the earning potential of the US operations.
Maybe only 45% after today. This will take days for shorts to unwind. We should fill the gap near $13.65 in next few trading days. I see trendline resistance around $15.That's when the "upgrades" will come in from these genius analysts, after downgrading it at $7.
Would like to play over and over and over again.
Notice how none of the news agencies picked up on the CEO comments or defended the company. They only continue to report the old news of the S&P downgrade. BTW- seems suspicious that S&P singled out CLF and downgraded them based on short term slump in IO prices. So.... do they upgrade them again next week when if IO prices stabilize and move up? Such idiots.
"Unfortunately, the perceptions held by many outsiders are not an accurate representation of the Company"
I like the options play. Good risk/ reward. I bought the January $7 down here. I like the odds that this thing gets back to $9- $10 sometime in next 3 months. This stock can still move up $1-$2 in any given week. Once it reverses, it will be a quick move up.
14 day RSI at 13.8!! Wow. Agree, now looks that $6.80 - $7 could be be in the picture before any bounce, hopefully in the next week.
BTW - Love how the analysts (GS) downgrade the stock AFTER a 70% drop this year. such idiots.
Sweet looking Doji star with decent tail. I've seen these act as reversal pattern candles after a multi week downward spiral. Oversold RSI at 14- 16 today may confirm a short term bottom is in. Selling looks to be drying up. See if it confirms tomorrow.
Looking for a quick run up to $9.70 - $10 in next 2-3 days.