Today and next week its partly about shorts covering competing with shorts trying to keep price from escalating. Make no mistake there is still long buying, but shorts are trying to get some breathing room before the earnings, news and deal flow for this stock drives it up further. If higher future iron prices are confirmed, it should start up again. I expect a lot of volatility next few days possibly attracting new buyers. Have you read the CNBC feature article today about the frustrations of short sellers ? I'm surprised they did not figure out a way of getting CLF into another article "Twenty stocks with potential to drop" :)