thanks variation for letting me know I'm not alone. I used to be able to trade CF several times a day but just not that kind of stock anymore. still keeping it on my screen. I just love the way they under promise and over deliver.
to all those people out there trying to make a few bucks either investing or trading...don't ever believe what you read when it comes to people's opinions on either message boards or forums like seeking alpha. people just take their best guesses but 99% of the time, they're wrong. there was no one predicting this kind of move in bbry today. most of the pros had them for dead. of course there is no way to know what any security will do on a day to day basis, but the best advice I can give anyone is to buy things you understand and companyies with a long solid track record with a mgmt team that has a long successful track record......at that company. there is no other way to win in the market. I know; I've been doing this for 40 years.
give me 1 reason why it should be 40? high cost producer, price of iron ore expected to come down, production coming on line in a hurry. this stock most likely to get killed if that scenario plays out.
the problem is not the penny miss. it's the guidance going forward and the fact that demand for underground and surface mining remains weak with weak bookings going forward. However, I've seen this scenario and the market can surprise, although in this case, I doubt it will. I'd be a seller here if the stock remains weak and look again at a later date.
as a high cost producer and the price of iron ore likely to fall as more capacity comes on line, it will increasingly be difficult for CLF to move much higher from here. Just look at today's action. as soon as this stock is up, sellers come in. stock is trading near the low of the day. bad sign. 45? only if economies around the globe start to grow much more than they are currently.
the fact that is has rebounded and has broken above 25 is a positive. usually clf trades lower and stays there; this I would consider a major positive. the close will be an indicator for the next few days and perhaps beyond.
guys who invest $300,000 in one stock don't talk about it on Yahoo message boards. and if you actually did, you're a fool...for spending it on CLF and for talking about it.