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Tony now looks to be questioning the "Long Term Bear Market Scenario".
Meant bull flag not bear.
Not that charts matter, LOL! Perhaps you should re-draw that ruler line. Especially when looking at a 6-12 month chart we could have a nice cup with handle formation. Not to mention a short term bear flag which seems to be playing out. Guess we'll see how quadruple witching plays out. Got any copper or zinc charts?
Looks like Tony C. is on the fence re: bear/bull
Although it's possible that the basic materials are bottoming. What would a bottom in commodities look like?
Been following this since "nowwhat" mentioned it. Are we dealing with a major short squeeze or an under valued stock? Perhaps both? Any thoughts on where TCK is fairly valued? TIA! BTW, the U.S.A. steel sector is also on a tear. (due in part to tariffs)
Great call! But after years of bearishness why the change? What signal did you get to go long in the nick of time? Good job!
Just a thought, currently they are talking about replacing Flints water pipes. Don't know how much steel would be used versus plastic. Depending on just what they find in Flint there could be a national push to do the same.
On a similar note, if oil prices ever bottom (some technicians see a double bottom in the charts) demand for steel from the oil sector should resume.
Thanks!
Thanks snoot. Great stuff as always!
snoot, I'm curious how the Chart of CF looks to you.
Interesting. Keep me posted. TIA!
Could always give Trump a shot?
OE was last Friday. January 1st was a Friday.
I look at the number of stocks and indexes world wide, along with commodities that are down at least 20%, together with the recent market action of selling into stength or fading the market. Did you notice the number of stocks on the NYSE which made new 52 week lows yesterday?
Perhaps I'm wrong and should BTFD. Of course caution should be used as things could turn on a dime.
Well it's called capitalism left coast style. It's $1.60 0n average where you can't drink the city water.(Michigan) They delivered 225 gallons of heating oil for $1.50 today. We have alot of stripper wells in my area which also produce brine which is used for dust control. At levels much lower the brine will be worth as much as the lower quality oil.
Just imagine what will become of real estate values as this "Bear" continues?
Oh yes. What's wrong with how our politicians are treated?
Does anyone have any thoughts on the presidential elections? I like Trump but would consider Sanders over anyone else. Thoughts?
Hope you are feeling better Glenn most of my family (grand children and all ) have been ill. I'd guess they aren't drinking enough beer. LOL. Kinda looks like the bear is just beginning.
Interesting, although I think the bear case is stronger than the bull case based on what we're seeing in the world market place. Did you see the resent market sell off previously based on your system / sentiment? Did anyone subscribe to your system?
why not? LOL!
You forgot to mention pension funds. Most of whom rely on the stock market appreciation to fund retirement obligations. I was told that Teamster retirees in my area had there checks cut in half even though they were retired.
http://www.jsonline.com/business/major-teamsters-pension-fund-to-slash-recipients-benefits-b99596712z1-333930951.html
Could be the exchange rate.
How's Canadian Tire doing?
You've made some great calls over the past few weeks!
Thanks for the link. Sounds rather dire, especially for those that work the mines. My mother grew up in Iron River and I can relate to the sadness. Merry Christmas and Happy New Year!!
Didn't know that. So I guess they have even fewer assets than I thought. What do they have that would make CLF be worth much more than the current market cap? Just curious,thanks!
Is it time to sell the corporate real estate in Cleveland and relocate to a more central location in say Ironwood? LOL!
Gleno, have you had any recent updates from the FLA Guru? Still long UPRO? Thanks!
As per history. They once owened much if not all of the "pictured rocks" as well as the island just north of Munising. They tried to sell 40 acre parcels to Sweds as "prime farmland" Some things never change! LOL!
Thanks, good to know. IMHO, still at fair value. We need more demand in all commodities, and deflation seems to be lurking.
Another long term chart. Hit the Max for years.
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=cleveland%20cliffs%20stock
Okay. When did you buy for $3 and sell for $100ish? When I look at the following chart it looks to me like CLF is back to where it was as a Great Lakes iron ore shipper. Before iron prices soared and they tried to go international. Is this chart wrong? Thanks!
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=CLF&insttype=Stock&freq=2&show=&time=20
How long will it take before the stock piles are sold off so they need to resume production? Are they currently loading out material? It is mid-November.
"Red at night-Trader's delight" ???
No. I got an automated response but no follow through.
Thanks for the updates!
Trend, I just sent an e-mail to Lowry Research inquiring about that ETF.
Just listen to the 2 hour podcast and chill!
The previous market tops going back to the early 1920's had similar patterns. Small & mid-caps lead the way down. But because the Apple, Google, etc. overweght the market no one sees the facts. Mean while the others are in bear markets. (Cat, DE. COP, PG, cvx ETC.)
It's well worth your time!
No, only what I heard on the podcat. I first heard it last Sunday while on my treadmill. They said a longer version might be avaiable later and I found it yesterday.