is...(Never argue with fools. They will drag you down to their level and beat you with experience.)
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Exactly, and now they have it. As that was then and here we are today.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=120782492
It's North Shore, remember he stated there was a silver lining to being idled when they announced lay offs.
Goncalves also said he will start construction soon at NorthShore mining to retool the aged taconite pellet plant to also produce a new “DR-ready’’ pellet to be made into directly reduced iron that is made into steel. That product can be used in so-called electric arc mini-mills rather than larger blast furnaces, the traditional customer of Minnesota iron ore.
CLF Project of a Lifetime.
The State of MN also guaranteed that all steel used in it's construction will be that of Mesabi Range products where they also have interests not only in the economy but also the ore mined on the range through it's trust agreements.
http://www.virginiamn.com/mine/project-of-a-lifetime/article_d35f8718-daa7-11e5-9550-6b7c68e413a4.html
Video footage of New DRI pellets at North Shore!
When Northshore comes back, Goncalves said they will be making the new Direct Reduced Iron grade pellets. He said their customers has successfully turned the pellets into Direct Reduced Iron.
"I'm very proud of the team at Northshore. They deserve all of the credit," he said. Goncalves praised the hard work of the plant managers of all of the U.S. operations, and recognized the cooperation of the United Steelworkers during these difficult times.
When asked about competition from other domestic producers, Goncalves said, "Short of a miracle from God, that one being built in Minnesota will not be able to start in next two years. Game over." He was referring to Essar Steel Minnesota.
CLF Shorting days are over! Get the cheap basement prices while it lasts as CLF is being covered and it won't be long before CLF pops.
The cyclical cycle is rebounding and making the turn and that signed trade bill this morning by Obama enforcing and cracking down on illegal steel dumping is just the beginning.
This trade bill also makes any products and commodities that are allowed in the U.S. must also comply with the same air and water purification regulations and standards enforced on U.S. manufacturers. This is a huge deal and probably one of the most important sections of the bill.
http://www.americanmanufacturing.org/blog/entry/obama-on-chinas-steel-dumping-thats-not-going-to-work
Obama on China’s Steel Dumping: “That’s Not Going to Work”
The Bill was signed this morning!
POTUS addresses steel imports crisis during National Governors Association Winter Meeting.
President Obama promised on Monday to use new tools in the just-passed Customs and Trade Enforcement Bill to take action against China’s dumping of state-subsidized goods such as steel into the U.S. market.
During the National Governors Association Winter Meeting at the White House, Minnesota Gov. Mark Dayton asked the president if he could “be more aggressive” to address the steel import crisis. More than 12,000 steelworkers have been laid off — including about 2,000 people on Minnesota’s Iron Range — because of the unprecedented surge in subsidized steel imports from China.
Obama acknowledged that China’s massive industrial overcapacity is leading to the crisis, and said that the new customs legislation (which he promised to sign) will allow his administration to “take more aggressive actions." He added:
I don’t think it’s any secret that China in the past has not always operated fairly. They are now in a process were they are trying to transition their economic model. They realize that they can’t forever sustain an export-driven growth model, but it’s going to take some time, and it’s temping for them to solve short-term problems by just dumping a bunch of state-subsidized goods into the U.S. market. And we’ve been very clear with them about, that’s not going to work, we’re going to put in place tools to make sure it doesn’t work.
Dumping crackdown called 'a great day for steel
http://www.nwitimes.com/business/local/dumping-crackdown-called-a-great-day-for-steel/article_e242d3c4-3577-512c-92ff-8d17524bba07.html
CLF Upgraded to “Buy” by Zacks Investment Research
http://www.thevistavoice.org/2016/02/23/cliffs-natural-resources-inc-clf-upgraded-to-buy-by-zacks-investment-research/859724/
Page 49 Bud, We are DR.
We continue the strategic shift to a company focused fully on our U.S. Iron Ore business. We are the market-leading iron ore producer in the U.S., supplying differentiated iron ore pellets under long-term contracts, some of which begin to expire at the end of 2016, to the largest North America steel producers. Cliffs has the unique advantage of being a low cost producer of iron ore pellets in the U.S. market. Pricing structures contained in and the long-term supply provided by our existing contracts, along with our low-cost operating profile, positions U.S. Iron Ore as our most stable business. We expect to continue to strengthen our U.S. Iron Ore operating cost profile through continuous operational improvements and disciplined capital allocation policies. Strategically, we continue to develop various entry options into the EAF market. As the EAF steel market continues to grow in the U.S., there is an opportunity for our iron ore to serve this market by providing pellets to the alternative metallics market to produce direct reduced iron pellets, hot briquetted iron and/or pig iron. In 2015, we produced and shipped a batch trial of DR-grade pellets, a source of lower silica iron units for the production of direct reduced iron pellets. In early 2016, we reached a significant milestone with positive results from the successful industrial trial of our DR-grade pellets. While we are still in the early stages of developing our alternative metallic business, we believe this will open up a new opportunity for us to diversify our product mix and add new customers to our U.S. Iron Ore segment beyond the traditional blast furnace clientele.
Thanks Dew, I was so excited about the DR facility under construction that I forgot to post the darn link.
$CLF Excellent Annual report out.
DR test runs went great and we began the construction a metallurgic facility.
Since the SEC watches porn instead of manipulation, the hedge funds just laugh at them as if they get caught, they just pay the fine and continue manipulating.
It makes it possible for longs to pick up more on the cheap though. So it all works out in the wash.
$CLF Obama Pledges To Fight Steel Dumping
http://capitolchat.areavoices.com/2016/02/23/obama-pledges-to-fight-steel-dumping/
Price Recovery To Benefit US Steel Industry: Merrill Lynch
http://www.businessfinancenews.com/27906-us-steel-industry-to-benefit-from-price-recovery-merrill-lynch/
$CLF TRADE BILL SIGNED INTO LAW!!!
"Mining and Steel Foundation of America’s Economy, National Security"
While we continue to build support for my legislation to impose a five-year moratorium on all foreign steel imports, the American Trade Enforcement Effectiveness Act — for which I was an original co-sponsor — has been signed into law and includes important improvements to the antidumping and countervailing duty laws for the first time in more than 20 years.
Casablanca Capital founder dies after ski accident
http://pagesix.com/2016/02/22/casablanca-capital-founder-dies-after-ski-accident/?_ga=1.122894728.2097078123.1378423448
No tactics, That 10Q was more than enough. LoL
The worst 10Q I EVER read! WoW
Glad I got out early enough before BK with the IRS investigating this heap and current lawsuits involving fraud.
I can't believe they even made it to the 10Q with this mess as it won't be long for this phony set up to collapse all together with the only product being the stock they used up almost entirely now.
The closer you look with this one, the worse it gets.
I agree, the entire trading day was shifty right out of the gate to hold back the gap but really, that gap was already filled and why it sprung so easily this morning as they hammered it to pull it back on Fri.
By them burning more shares in an attempt to quash the run, they were also buying heavy on the pullbacks that brought it back up increasing volume even more than average retail pressure and decreasing the amount of days to cover. With this trend, the volume is going to continue going up and we only will need a 10 mil daily avg to bring the covering down to 3 days. The pressure is already on and shorts are thinning out.
No doubt, Did you see how hard they attacked and drove the volume through the roof to almost 6 million.
Having a 5 million day last week and this 5.9 million volume today does not help the short especially when this is the beginning of a uptrend rally in iron ore and the moon cycle.
If the volume starts Avg. 5 mil+, the shorts days are numbered, literally they will cut their time to cover in half.
Shorts are in some serious trouble here to still be short so much.
$CLF 471,200 share buy at $1.98 to end the day.
$CLF Major Accumulation here, Power Hour is going to be nuts.
Shorts have to let her go to slow volume down otherwise they are cutting their own throat.
Shorts are in trouble here and they know it.
Gapping up a dime does some strange things for shorts.
I loaded more on the pull back at 1.95 as I am afraid that we will never see this below 2 again, very shortly.
There is currently way too much happening on the Mesabi Range and CLF Cliffs Natural Resources is directly in the middle of all of it and able to access more pay dirt with the moving and relocating of several interstates and trunks for Cliffs to gain access to these sites.
Shorts have to cover quicker with increased volume like this and the daily Avg. increasing.
That gap has to fill, one would think. I'm looking for any news and find nothing except Quebec supporting the Bloom Lake sale.
The full moon is the only thing I see causing this to run.
Anybody else have any insight?
I've Been out a while after making those calls. No hard feelings if I steered people wrong and I apologize for that as I was buffaloed by Danos himself. I truly thought the Rosalia deal was a go.
Oneman was right and right about a lot of things which I do admit and I am just a trader and have absolutely no ties to Danos what-so-ever and never did. I called him though once and he steered me wrong as I later did confirm that he was full of Sh it which he was indeed a liar.
I kept a few million for a luck bet after dumping the rest last year for a write off.
I still check in on it now and again but nothing serious is happening that I can see to even post about.
Besides, Oneman still has an eye on it here and if anything happens here, I'm sure he will be on it and telling it like it is.
Peace <><
Highway 102 is the fourth highway in the region to move — or in the process of moving — to support expanded mining operations. Highway 53 in Virginia is being rerouted for expansion of United Taconite in Eveleth. County State Aid Highway (CSAH) 70 near Babbitt was moved for North Shore Mining and CSAH 5 near Chisholm is moving for Hibbing Taconite.
“It’s a fine example of government working with industry to move forward on projects of importance,” Sutherland said. “Its critical to the success of our efforts.”
Cliffs to expand mining operations, St Louis county MN.
A resolution adopted last week supports the reroute of County Highway 5 via County Road 136 to Trunk Highway 73 by use of a roundabout.
Cliffs Natural Resources has requested that a portion of Highway 5 be abandoned to allow for future mining and economic viability.
A motion by Councilor Todd Scaia, seconded by Councilor Tracy Campbell to adopt the resolution in support of the roundabout passed unanimously. Councilor Steve Cook was absent.
On a side note, the Mountain Iron City Council adopted a resolution in support of the Highway 84 reroute during its Jan. 20 meeting. The Virginia City Council had earlier adopted a similar resolution.
Minnesota Power to refund customers!
All customers, from giant taconite plants to small apartment renters, will get something. The amount will be divided by the type of customer (commercial, industrial, residential) based on how much electricity they used during the coal shortage periods, generally between Oct. 2013 and Feb. 2014 and again from July to November in 2014.
CLF on the move insider trading.
http://cwruobserver.com/2016/02/18/on-the-move-insider-trading-cliffs-natural-resources-incorporated-clf/
$CLF Time to pump up volume on shorts and make them cover quicker.
Notice when shorts attack, they do so early in the session so they can do the most damage without raising the volume to much where they have to cover quicker.
They purposely back off to keep the daily volume around 4 million without going over and up to 5 million. By staying at 4 mil they can keep the days to cover between 13 and 14 and if it went to 5 and stayed there, they would have to cover in 7.5 days or around that.
Shorts are going to get squeezed regardless but a little more volume couldn't hurt to move it along.
$CLF $520 Million contract extension till 2022
https://www.businessnews.com.au/article/BGC-in-520m-Cliffs-extension
When banks are buying CLF, we are in excellent shape and in the right place at the right time.
I love it when banks start buying my picks. It's more money in the bank.
I agree, and why I'm just playing with my stack for small amounts and not getting to serious about the game and risking a bundle on it.
We broke through resistance easily yesterday before the shorts hammered it and they really loaded the ask when it was coming back at the end of the day to prevent a sure break.
RSI still up there at 69 after yesterdays trading.
http://charting.nasdaq.com/ext/charts.dll?2-1-14-0-0-512-03NA000000CLF-&SF:1|27-SH:27=10-BG=FFFFFF-BT=0-WD=635-HT=395--XTBL-
I seen the RSI at 72 yesterday and was tempted to drop 1000 at 2.08 but waited as the Presidents signature is going to send this screaming on the senate bill that passed and could happen any time.
Then I seen it up to 74 this morning and just knew is would come back down with price without news so I dropped that 1000 this morning at $2.15 as I'm just playing but still a little nervous in getting them back if I sold for a flip.
But sure as the RSI commits it pulled back and I picked up 1100 at 1.935 for even money.
I wish I had the balls to do that with 10,000 as I would have earned 1000 shares on even money in a single days flip.
Just playing it safe and not getting too greedy but the opportunity did present itself again with this one and the RSI was right on again.
Essar Steel going out of business fire sale!
Essar is now under Canadian Govt. liquidation orders.
https://www.sootoday.com/local-news/essar-steel-algoma-starts-sale-and-investment-process-196424
The short manipulation is obvious with U.S. Steel up a buck and ArcelorMittal up .30 for a 10% gain.
It's funny as seaborne ore is also up and now in a bull market when that was the hedge funds excuse for shorting this to hell.
The leading excuse is up seaborne ore is soaring and CLF goes down. Go figure if that isn't manipulation, what is.
CLF was up on low volume the past 2 trading days and up on volume when shorted shares come back in the picture like today.
I picked up more on the swing so I can't really bitch before the big news arrives and idled mines go back on line with a new pellet plant in Hibbing and Steel partner in Cleveland. DRI is 60% of the blast furnace market and Lorenco is taking a big piece of that pie as boots on the ground already know. That support alone is what is keeping us above Deutche Bank predictions who is failing miserably on their own.
Cliffs has come a long way and Hedge Funds have seen nothing yet as Cliffs will continue to dominate the domestic markets like never seen before.
Believe it or not, iron ore is now in a bull market.
http://www.businessinsider.com.au/the-iron-ore-price-continues-to-climb-2016-2
$CLF Steel manufacturing sector sky rockets on passed legislation. While CLF Shorts ATTACK with entire sector on fire!
Shorts are in trouble!