It is really easy, if the company has positive cash from continuing operations and no debt due until 2018, the probability of bankruptcy to 2018 is zero.
I have a hard time trading this when it is going up! Looks like I have to readjust my down target, waiting until 10:30 to see what shakes out.
Yeah, I bought under $8, sold for a small gain, waiting for it to drop under $8 again… then it pops… it happens every time!
Due to environmental concerns, the days of selling iron ore dirt will be over. Everyone will require high grade iron ore pellets designed specifically for the steel mills.
Analyst admit that this is the estimated maximum shutdown cost and the actual cost should be much less.
So now the shorts are looking at book value? Not paying attention at all to positive earnings outside of non cash impairment charges that does increase cash from tax benefits. When it come down to reality, earnings will drive value.
Sold my last day trade and went outside to work, came back in and the bottom dropped out again… looks like I will be buying in the morning again.
Has anything official come out of CLF or are these rumors setting the market up for a JV announcement? All these news releases is information they could have pulled off the Q3 earnings.
We need to know what CLF's long term strategy for the asset and how the pieces are falling into place. My opinion is a JV is at hand, just takes time to put together and the stock will soar with any progress. In the meantime, it absolutely makes no sense to sell below their cash cost and they should have stopped production when it went negative.
Just pulled up the conference schedule, to run 11/19 through 11/20.
Look at the income statement, they make good margins on US iron ore pellets, take away the losses from BL, profits go up. Even with the added cost shutting down BL.
Yes it is, CLF is talking about shut down mining operations at BL, not a permanent closure. It makes no sense to sell iron ore under their cash cost. The quality of BL iron ore is what is needed in the future as environmental concerns continue grow. Saving that ore for this future demand is the smartest move.
Yes, never hold a gain overnight. Made two solid trades today, looking to get back in for a third, just don't think it will drop back to my $8.60 target buy price. As it stands, if I bought back in at $8.60, it could fall back to $8 and I would still be positive for the day.
If they close them, they can see a nice gain.
I had a buy price of $8.60 and traded out of it. Looking to get back in and thinking the buy in is now $8.75, but should just take the $8.89 and play it out this afternoon.