Replies to post #3338 on Cleveland Cliffs Inc (CLF)

[Greg444]

Might CLF be dipping into it’s own capital to get DRI launched? Balance sheet may be be the same weight on debits and credits until we can beat Clarke to the DRI... I believe Wall Street and Saint Paul have more confidence in CLarke. I know LG had to follow some real Asshats that did not see DRI coming.

[Nebuchadnezzar]

in my 15 years trading this is a first. its totally a buying opp but this price action warrants some further digging. this stock is manipulated by big $$$. short covering rally to $9.15 then shorted again back to $7.60. something smells here

[10nisman]

I don't have a good explanation for today's reversal; if anyone does, please post.

(1) The markets are overbought. (2) The USD is trading 10-15% below where it should be versus most major currencies. As the USD recovers over the coming weeks / months we should see a pullback in commodity driven names and most U.S. based MNC's. Today appears to be the start of that...

[Nebuchadnezzar]

little birdie told me the SEC will be looking very closely at today's price action, especially the 2 hour stall out at $7.62-$7.65 price after falling $1.55 to $7.60 then another 30 cent rise towards $8 to close out session.

who knows what will come of it, but todays trading in particular especially after pretty good news in up market is very suspect.

-neb