After stepping over paper strewn all over the room from unwrapping too many gifts many of which need to be returned and stepping on sticky once used tape and having to peel it off the bottom of my feet, I did have a chance to read Investor's Business Daily (over a cup of Irish coffee). What seems to be hot right now is iron ore and copper. A big iron ore play (aside from Peter's great recommendation of ADV which has almost doubled from whence I bought it) that I have been watching but not yet pulled the trigger is Mesabi Trust (MSB). IBD has in today's edition the following write up about this stock:

"Iron Ore play, Mesabi Trust, punched 11% lower in triple its average volume. The stock has behaved erratically the past seven sessions. On Thursday, it closed below its 50 day line for the first time since July 8, when it was forming a base. Mesabi's had daily plunges of 6%, 14%, 6% and now 11%; it's had gains of 3% and 5%. The NYSE asked Mesabi on Dec. 16 to explain the wild action. The trust said it knew of nithing that could explain it."

I guess the good news is that I have not yet pulled the trigger on this buy. But I do wonder if I should given its dramatic drop. Wondering if anyone here might have an opinion on this one?

Motley Fool had the following write up on it recently:

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of iron ore royalty trust Mesabi Trust (NYSE: MSB) fell as much as 10% on above-average volume.

So what: Shares of Mesabi continue to experience unusually big swings of late on extraordinarily high volume. The stock seemed to be recovering nicely from last Thursday's 16% plunge, but today's double-digit loss -- already coming on more than 2.5 times the average volume -- erases the gains made over the past week.

Now what: With still no obvious news out, today's weakness looks like yet another opportunity to pounce. While Mesabi is up more than 230% over the past year, it sports a tantalizing dividend yield of about 8%. As long as you're able to handle the extreme volatility, Mesabi seems like a total-return bet worth considering.