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Fifth Third Bancorp (FITB) Message Board

ligarekjoy4x 8 posts  |  Last Activity: Dec 23, 2014 2:59 PM Member since: Feb 19, 2009
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  • Reply to

    May have peaked

    by ligarekjoy4x Dec 22, 2014 10:54 PM
    ligarekjoy4x ligarekjoy4x Dec 23, 2014 2:59 PM Flag

    Wow-that is a pretty aggressive target. Not to say it will not get there, but that is a 25% jump from today's price. Good luck, but I am guessing we see our first 10% correction coming in many years in 2015. Just a guess.

  • ligarekjoy4x by ligarekjoy4x Dec 22, 2014 10:59 PM Flag

    If I ever get back to my cost basis ($35), I will get the heck out of this name and never buy another commodity stock-just can't stomach all of the volatility. It wasn't long ago when this stock was in the 40's and several analysts had price targets north of $50-now damn near a 40% drop with no negative news from the company-unreal.

  • ligarekjoy4x by ligarekjoy4x Dec 22, 2014 10:54 PM Flag

    Hey, let's face it, LOW has been running rather crazy the last six weeks-up almost $20. But now I see that the CEO is selling shares and we have seen the first analyst comments that suggest that $68 is as high as it climbs. Congrats to all the longs that have been long-term holders, but man, may be hard to keep hanging on at these levels. (not to mention that the S&P and DOW are both at record highs)

    Sentiment: Hold

  • ligarekjoy4x by ligarekjoy4x Dec 11, 2014 10:12 AM Flag

    Low oil prices, over supply of iron ore, slowing economies in Asia-just a perfect storm here for the shorts to even strengthen the 64 mm shares shorted. Nearly 50% of the float here is short. Amazing. If you do happen to be one of the longs (as I am)-might as well let it drop to $5 and start buying more with each downturn below that. At this point, might as well put a few grand more on the risk side as it is the only way to recover your higher price. Then, hold for two years or so and see how things work out. Only more ugly from here though for the next few months.

  • ligarekjoy4x by ligarekjoy4x Dec 10, 2014 11:42 PM Flag

    Slight overreaction (selling)here due to the oil debacle. X has dropped 13% since December 1. We all know that the price of oil will recover off these lows over the next few weeks/months (not years)leading to a nice pop back up in X-something like a 10% pop over a few weeks. So if you want to make a few bucks, pick up some X on sale at these levels and hold it for a few weeks/months. Almost a certain thing. Happy Investing!

  • Reply to

    Just started a long positiion today

    by ligarekjoy4x Oct 3, 2014 5:40 PM
    ligarekjoy4x ligarekjoy4x Oct 3, 2014 10:23 PM Flag

    as crazy as it seems at the moment, it may not actually see $5-even some of the analysts think their new price targets may be over-bearish. My plan is to buy about 100 shares each month for several months so I may get some at $5 but I may not either. Hopefully will have a few thousand shares with a cost basis less than $10 when things start turning in the other direction for CLF. Biggest concern though is BK-really need iron ore prices to at least stabilize.

  • It was only 250 shares at $8.44 but I just couldn't pass up the fact that almost 40% (and climbing) of the float is short and that 33 mm shares traded today, which is almost 6x normal volume. Folks are either shorting or panicking and both of those combined generally make pretty good buying opportunities. I hope to add more shares slowly and in small increments just in the event CLF does not survive the record low prices of iron ore. At these prices I'm willing to take that gamble because if Iron Ore prices do start rising, we will see an awful lot of buying here.

  • These are the exact type of situations that make long-term investors a TON of money. Yes, there may be some more short-term pain but if you have yet to make your entrance point, you may want to give this one a close look. Iron Ore prices are at multi-year lows, the stock is at a multi-year low and the short interest in this company is off the charts. EVERYTHING about this company is negative and at some point that will change. U.S. Steel basically doubled in six-weeks after a promising Q2 report. CLF can better that. Looking forward to casually and intermittently accruing a position here that hopefully will get me up to 5K shares. Very possible this stock sees $30 at some point over the next 3-5 years with the potential to get higher and with a targeted avg cost basis that I hope will be in the area of $7, I believe that gains in excess of $100 K are very possible. Biggest risk is Chapter 11 but I don't see current management allowing that to occur. Good luck all.

FITB
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