I will have to take Route 66 for the ultimate road trip. We will have to suffer in a 66 GTO.
In the last hour, need to see it make some 50K share a minute runs to show that shorts are concerned.
Do you think we will hit 2 million shares in the final hour?
As a builder that uses solid wood in floors, trim and cabinets I have a very difficult time getting consumers to pay the up charge. Buyers will buy the lower cost home with laminate floors, mdf moldings and particle board cabinets every time.
In my day trading account, took the profit and bought it back on the pullback. At these levels it is worth the risk to hold overnight for after-hours breaking news.
Day traders clearing their positions, once they have finished, the stock should continue its climb. News on BL is near and shorts will want to be out before that hits.
Read the CARB fact sheet on formaldehyde. It is very relevant and even CA says to correct the situation is to leave the board in a carport for a month to allow the gas to escape. Or if the floor is laid, provide mechanical ventilation until levels are reduced.
From the CARB fact sheet:
"The Composite Wood Products Regulation establishes emission standards at levels intended to protect public health. We believe most laminate flooring and engineered wood flooring labeled
as complying with California’s formaldehyde emission standards (i.e., CARB Phase 2) meets those standards. However some flooring products may have been falsely labeled.
Various studies have shown that laminated and engineered flooring and sealed surfaces and edges reduce the emissions from the platform materials and that the emissions generally decrease as
the product ages. As a general rule, we do not recommend removing a flooring product unless there are noticeable health effects (i.e. nose and throat irritation, a burning sensation of the eyes, wheezing, and difficulty in breathing), and other measures (see below) taken to alleviate them have failed and there is good reason to believe the flooring is the source of the problem.
If I don’t trust the label, or I am from another state and there is no label, what can I do to minimize potential exposures to formaldehyde?
There are several steps that can be taken to alleviate emissions from indoor air pollutants such
as formaldehyde. Proper ventilation, such as opening up windows, bringing fresh air through a central ventilation system, and running exhaust fans will expedite formaldehyde off-gassing from finished goods in your home as well as the odors from any finishes such as varnish or lacquer. Extended ventilation may be needed. Keeping indoor temperatures and humidity low, such as by using an air conditioner and/or dehumidifier to draw the moisture out of the air when humid, may help decrease the amount of formaldehyde that off-gasses into the indoor air.You may also leave your new product(s) in the garage or under a covered carport for a while to let it off-gas before bringing it inside the house."
Over time, formaldehyde levels will come down!
It is real simple, the label shows it was in compliance. If the homeowner wants to have their flooring tested and it is not in compliance, then the floor should be replaced and LL should adopt that policy. Since most floors are 6 months or older, all levels should be well below CA standards and no action is required.
My problem with LL is the milling of all of their products. I refuse to use their flooring because the variance in the width and thickness of the flooring they sell.
From Wikipedia discussing formaldehyde levels:
"A U.S. Environmental Protection Agency study found a new home measured 0.076 ppm when brand new and 0.045 ppm after 30 days.["
Provide a reliable source for your position, we don't know if you are an expert or a kid in your mother's basement.
You are missing the point, none of the floors laid will need to be replaced. Formaldehyde levels from new boards are within Federal standards, it is only in CA that they don't meet. A simple solution is to sell flooring in CA that is 6 months old.
"Emission levels are always highest immediately after manufacturing of the board and quickly drop as the board ages. Average emission levels from unfinished boards can drop by about 25% after the first month, and are usually half the initial amount in about six months or less."
Sorry if I don't take your word on this. The truth is when they test these laid floor for replacement, they are going to find they are well within levels allowed. Just like the synthetic stucco problem, a home owner cannot get paid if there is not a moisture problem present!
It is time for CLF to come out with a conference call to address questions about BL. They need to get the specifics out in the open.
High volume out of the gate, heavy on the sell side. Looking for a reversal within the hour.
Iron ore stocks hit hard in pre market with India cutting rates causing fear about further shifts from China to India where their steel industry has a good domestic supply of iron ore. With CLF's limited exposure to China, this sell off at the open is over done. Keeping an eye on any move to increased buying volume.
Could be their exposure to Canadian iron ore and their $500 million rail contract with BL is now totally worthless. It is time for them to pay for their stupidity.
You are talking about one product line in one state, CA. The cost may be in the $ millions and the majority of the cost will be picked up by liability insurance which the state of CA requires of all contractors, sub contractors and suppliers in the construction industry.