It is just that the Australian miners have over capacity and they keep increasing production and not cutting back. So, why did CLF jump from $8 to $9.90 in just 2 days?
Notice all the posts are predicting this. That is why it will do the opposite.
No rush...I know the company will pump this up to do a another secondary offering. And, most people have sold who wanted to sell....all the bad news is out. End of year selling has been completed. No rush, it will go back up next week.
Like I said before...this is going to be a mulit-day run up. There will be people who sell, but I believe this will be $2.50 range by next Friday as more new blood newbies will buy into this as it is in their radar now and it was down so low.
This is very, very good movement.
That is more than yesterday.
look for the move up again at 11:30
Just don't sell
Trying to buy cheap abut raising the price by this afternoon. BUY BUY BUY BUY BUY BUY BUY BUY BUY
Why almost 50% less now?
it may go down 10-20 cents but I believe this will be the base now to move up. Not that they are profitable or anything but newbies will come in and everyone who sold pretty much has sold as it has come down from $5 to 1.3 in 3 months. All the year end tax sell-off was done
Any news at all and another 50 cents up tomorrow.
So they can sell to others to move the stock more and it feeds upon itself. $2.50 by Monday.
No guidance whatsoever......They did mention issue with the strong dollar may affect margins.
You have to understand the psychology.....Lots of newbies will see and say wow, $5.50 is the price target so I can buy safely until $3....And, everyone sold due to tax loses already sold.....This is GOING UP