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Message: Cliffs Upgrades or Downgrades

Thanks Rock, valuable post. I expect to see the share price drift from here until closer to the Q2 earnings report. Meanwhile, the next positive "fundamental" will occur when the Yuan is appreciated, even if it is only a few percentage points. Meanwhile any intraday downside trading will tend to get accentuated, but as we saw last week, quickly rebound. Buying on dips from here, as the China crash story has now been outplayed. With a great future outside Australia, I expect one of the big guys to take this out in preference to Aussie capex. Too bad our US friends have suddenly forgotten how to run stock exchanges, hopefully the Pres is giving them a refresher course. At least up here we can honestly say we never did know.

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