$131 for Iron Ore is the floor. If it goes below, it can go down to $120 or even lower, and that will be bad news for CLF. Hope it stays above that floor.
Sol.. I don't think that is cyber stalking but he should keep it more disciplined. What does this has to do anything about your wife..lol!!
Chromite mines will open when donkeys FLY... lol . Seriously, It could make them bankrupt if they will try to pour in more money. The best thing to do is to sell it if they can recover at least $1B after they paid $5B for it. I think W999 is day dreaming or smoking some thing or the stock would be flying .
Stop day dreaming and CLF needs to get out of Chromite project. Its a DEAD MOMEY and why throw more money at these projects and make the balance sheet even worse. Management Must comer to the terms about what is good for this company and its shareholders. Shore up the balance sheet, pay off more and more debt, cut dead wood, and control other costs and CLF will fly even if Commodities prices remain low.
Stop giving excuses and bite the bullet. This is the worst stock in S & P and I see no hope in a near future unless they raise a lot of money selling the mines including ( Chromite project one ) that are unproductive and pay off their debt. I have some 2500 shares and feel hopeless.
But this dog keeps going down and down again about to go under $23 today while DJ is up over 168 points. There is fundamentally something wrong with this stock and its management , and its the MOST hated stock in S &P 500. Shorts are doing something right. All commodities are generally down but CLF is the worst.
Skit.. ii is best to sell the Ring of Fire mine for over $1B if they can get it and use half of it to payoff debt and increase dividend, and use other half to expand the Bloom Lake mine. This way CLF will have the best of both worlds and stock will start to move up w/o major correction. I hate t see CLF wait eternally for CAN to build the transportation system for the ROF Chromite project.
Unless the new CEO totally restructures the company, cut cost and make wise decisions on Ring of Fire and Bloom Lake projects and stop throwing away good money. WS has NO respect for this stock now in a long time and rightfully so.. look where the stock price is today.. almost approaching $23.50. This was once a $102 stock. I hold a lot of CLF shares but hate to see people like W99, here, trying to pump up or justify why this stock is so good while Shorts are having a field day .
Well.. its well under $24 now and stock never seems to have any legs while Dow is near all time high .Look at the scary future earnings forecast.
LMAO.. ABX is great buy at this price. The recent issue of Barron has this stock as one of their winner picks in 2014.
w9....good for Halverson. Hope he does something positive for the company ones he becomes the CEO. This stock has no price stability and moves up and down like a yoyo.
Let me present a very scary earnings forecast for CLF (from ETrade site):
2012 E. $3.50
2013 E est.$2.95
2014 E est. $2.03
2015 E est. $1.55
2016 E est. $0.42
Now you prolly know why smart money is selling this stock.If this trend continues, I am not sure what will happen to this company. I hope they are wrong.
People here give excuses after excuses why CLF is going down .. year end selling.. markets down.. too much debt or Chronite project on hold . This POS does its own and the most blame MUST go to the management that they haven't recognized the problem that why so many investors are shorting this stock and done something about to discourage it.
Shorts are having FUN SHORTING this stock all year ... no matter how great earnings or great IO prices. Somehow the new management MUST CONVEY TO INVESTORS THAT THIS COMPANY HAS LEGS AND HERE TO STAY. The stock is back again under $25.
TWTR w/o any earnings and any earnings prospects till 2015 is rocking the stock market...up another 6% @
$52 today. Time to take the money and run. FB is a lot more stable stock with solid earnings. Only 2 stocks are real good and LT prospects in this crazy social Web market and they are GOOG and FB and they will be ones that will survive when air clears.