Volume is light, no short covering, no shorts adding to their positions, just a little buying volume supporting the price today. People just waiting to see what direction China is going to take into the Spring. With the Eurozone expanding their money supply, many see that China must expand their money supply since the Eurozone is one of their best export markets.
The commodity cycle may have reached a bottom and everyone is just waiting to see if that is true.
With all the major car producers getting into electric cars, TSLA will become a battery manufacturer for the auto industry that builds cars on the side.
I want to watch how much Musk works the media on this one, if he turns TSLA up right now, CEO's like Gonclaves will need to sit up and notice how to support share price in the market. Right now you can't go 30 minutes without hearing Musk on CNBC.
They are committed to the project and will go broke on their current holdings if it doesn't come together. So if they can get others to buy into it with them, they have nothing to lose and shooting for a big payout. CLF's holdings are the richest in the area and could be a big winner in the future. Kind of like the Power Ball ticket I got.
Good move, Ontario said they have budgeted $1 billion for infrastructure and nothing has come out of it. Turns out they need Ottawa to come up with $1billion and Ottawa is saying "show us your $1billion and we will think about it". CLF has two routes, sell it now for $250 million or wait until the governments come to an agreement and then the assets will be worth well over $500 million.
I say sell it now because I have not seen any progress between Ontario, Ottawa and First Nations. And if that lack of progress continues, CLF can pick all of it back up when these junior miners go bankrupt. Or they can just forget about it and let First Nations continue to draw welfare checks (my option).
Thanks, took a $200 gain off my trade, off to buy a ticket and a bottle of bourbon for the drawing. Can't drink it, just have it for luck. You can tell if I won when trading volume picks up next week.
But the market does not know what they are doing. I has more to do about keeping China hooked on 62% fines than it has to do about driving out the competition. Their biggest fear is that China will shift to using primarily pellets made from their domestic supply of low quality ore.
I am not going to wait! Purchased a position in CLF this morning, looking for $100 gain and then I will head over to CA and buy a Power Ball ticket. With the winnings I pick up on Thursday, I will buy 20 million shares of CLF…. If the shorts know what is good for them, they would cover now!
He just needs to watch how Musk and Tesla controls the shorts. Tesla reports China sales are below expectations and what does he do, he lands a spot on CNBC to highlight how the all wheel drive car works in the cold weather areas. You can't let the market to focus on the bad news.
Sounds like more of a labor cost issue as mills are moving to right to work states like Alabama. It is happening in the auto industry, looks like the migration has moved to steel.
"China executes the head of one of world's largest iron ore manufacturer. China executes top businessman.
China executed Mr Liu Han, the founder of Hanlong Group, one of the world's leading iron ore manufacturer."
He was involved in organize crime, murder and gambling. Kind of tells you the state of iron ore business in China.
You have long term shorts covering, buying the shares the new shorts are selling. Better to go after a seller to cover than it is trying to get a share holder to sell.
Yeah I did, but I have seen the impact on debt from a simple $175 million purchase of a coal mine. $200 million may not be a great deal, but $300 million should give LG a twinge in his shorts to make a deal.
Why would anyone spend $400 million to make $100 million? Rule of thumb is spending $400 million to make $400 million. Just think of what $200 million in cash could do. It could retire about $300 million in long term debt and the interest savings over 5 years could net them out another $100 million giving them a bottom line number of $400 million.
$264 million in 2014 so if you take off interest, taxes and depreciation, the cash you can get today would be better at $200 million or more than continuing to spend the money on all other operating cost.
How can you sell something that is called Koolyanobbing? I read somewhere that they have trimmed $10 off their cost and generates a fair amount of cash. But looking at it, a cash offer of $200 would give them more cash today than they will generate over five years at the current price of iron ore. But the price of iron ore may be much higher in a year and they will make more. Guess it is worth the risk to hold it and gives the executives a reason to take a company paid trip to Australia in the winter.
The big shorts have covered after taking one last shot at the company to get the share price lower. In doing so, they sucked in a bunch of retail shorts that helped them get their target cover price. With the big players leaving, the negative media will slow down as they are no longer drawing a paycheck. So you have the retail shorts picking up the attack on free platforms like Yahoo Finance and that is the noise you are seeing. I would not be worried about it too much as no one really cares about the opinions of posting on this board.
Some of these attacks suck you into replying on their level and I have been trying to get back to providing the latest news I come across. The news is becoming more positive and will move the price of the stock. We need to be looking at what moves the price, and not trying to move the price.
Sorry about the Zen like response, will not post like this again and stick with breaking news.