RUFCrazy

More Drama at Cleveland-Cliffs: Harbinger To Block Deal?

Isn't there also a $100 mil penalty paid to ANR if the deal falls through ?

Not a bad result; I think ANR will hit a higher valuation on its own anyway as they should earn $33 in '09 and $45 in '10 using the Citicorp analyst coal price forecast. 4th grade math tells you to go way LONG ANR.

Don't worry too too much about the hedge funds who are selling their coals to free up cash to cover their shorts on the DEAD AND DYING FINANCIALS and just trying to scare up some cheap coal shares at the same time...

They will be covering their coal shorts next week and buying back in long as the rest of the coals report, including the heavy MET coal producers ANR and PCX on July 29. I'm betting yesterday July 24 was the panic bottom for coals in 2008. Both ANR and PCX closed above their respective 50 DMA's today, MACD's and RSI's are turning back positive as well...

Mark it down... yell at me if I'm wrong. I will still be long ANR and PCX.