My guess, we have seen the high forever @$57 and will see 52 weeks low in a month.
I'm keeping it and see what shakes out on earnings. The shares needed to be punished for earnings disappointments, but in my view it is overdone way overdone. Looking for $28 as the base in 3 months. Good divi as well. Low risk to the downside. I only play the risk/reward. There is more chance it is going up than down at this level.
CLF announced their date for earnings report. Any smart poker player knows the real big news is that they did not pre-announce a BAD earnings at that time...so it means they are going to beat and the stock already bottomed 3/27. The short play is very risky at this point.
13F filing coming out soon. I noticed accumulation of shares starting last March 7th. Whoever is buying did not want to spike the shares...it has been strategically done.
Had you listened to me, you could have shorted it @ $164.58 per my post of 2/4/13 and covered on 2/19/13 @ $157 like I did. Easy money as I stated.
Cat is not participating on this record move up in the market. I shorted 5000 sh @ $90.70 today after hearing that Chanos is short China and the iron ore stocks. The mining operation of CAT may be weak as well as the construction side since China shifted from infrastructure to service/consumer consumption for growth. IMHO.
Just cashed in my chips. Thanks. For the shorters...here's a gift for you. Short JBL, earnings will be bad on 3/20. Good Luck.