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.
wrong. a horrible report. this company continues to loose lots of cash and is running out. Probably won't survive to see a rebound, a rebound that will disappoint investors.