There are two things that keep people on the fence to buying a house, one is they think prices are falling or they think interest rates are coming down.
They could have, did not catch any new articles. Based on their cash flow, they need funds from someplace to keep their projects moving forward.
Plus it is only going up .25 percent at a time, 4 rate increase still keeps it at 1% an the 10 year T bill will still be below 3%. Really what it is going to do is get people buying homes now as they feel the interest rates are heading up in the future. Get new home construction over 1 million units, the economy in my opinion will be out of recession.
Yeah and it seems you failed to realize that it takes 5 to 10 years to plan and develop a mine, she started on that mine back when iron ore was selling for $140 a ton. One of the key reasons they need to take on more debt. CLF on the other hand realized they could not continue with seaborne IO and closed BL, continuing to pay down debt. I have never heard of a company go bankrupt while paying down debt.
They had to announce the buy back program and then they need to disclose purchases with their earnings. So far no disclosure and investors are doubting it is going to happen as the company has moved to buying bonds which I think is a better move. But if they make a move to buy the stock, the buy volume will impact the price of the stock.
Share price in manipulated by outside forces. Earnings is the real driver in the long run.
And CLF's APIO operation has a cash cost around $42, they are closer to the strongest of the strong.
And Fortescue is taking on more debt to pay for debt that is coming due. Unlike CLF, they can't build their cash position to service their current debt. It won't last long unless they can get their cost down and taking on new debt goes the wrong way.
Jeff, think of it in other terms, if you have a business that is generating $1.50 a share and has tax refunds into the future that adds another $1 a share why would anyone sell that business for less than $10 when they can earn that in 4 years? Everyone here is looking at the current share price, not what the company is earning.
realize how many shares need to be traded on either side of the trade to move this stock 1 cent. It takes on average about 10 thousand shares per minute. There is no way that the people that read these post can maintain this level of trades to influence the share price.
I have been trading this stock from $28 down and through day trading and selling covered calls I have taken my break even on long holding to below zero. Most of my buys resulted in a profit.
And I repeat, the only ones that think their postings have any impact on the share price are the ones that post baseless statements.
Just like the idiots that post CLF is going BK, just give us the debt holders and terms that will cause CLF to default which is the only way one can go bankrupt.
Bob, anyone that thinks Yahoo posters can lure people to take long or short positions it just totally off base and really thinks their opinions can influence markets. Instead of making baseless comments, try posting some reasoning that we can have a discussion on.
I am waiting for word on the settlement of BL. In the past, CLF would not take $750 million for the mine because their liabilities were $750 million, but now their liabilities are zero. Now they are free to take $750 million or more. On the other side, a buyer of the mine is going to get financial concessions from Quebec and the unions to drive down their acquisition price. My only question is will CLF get cash for the real estate they own or will they just lease the mineral rights to the new operator?