Trader:  Up until now, I have always had to pay cap gains as well.  The year is surely not over and things can change.  As it stands I am in a loss position on my tickers.  Guess that impacts the federal government too?

 

Yes we do have football and it was enjoyable watching USC take it on the chin last night.  Anybody can be beat anybody and anybody can be knocked down for a while!

 

Things will get better-its just going to take a while I imagine.

 

Kutz 

CLF is down a little; ANR closed close to my buy-in.  next 2 weeks are much more important for this trade.

 

Kutz 

i am not sure where i will end up today.  last time i looked, i was down $100. 

CLF is buying ANR; approved by ANR; regulatory approvals in place; 60% of new company is CLF-40% ANR yet the PPS of these entities has flipped;  ANR is actually now worth more?

 

Kutz 

The vote to allow Harbinger the right to own by a significant additional percentage of CLF has failed this morning.  It would seem shareholders did not trust the premises behind their request for more control of CLF.  Harbinger is against the buyout of ANR by CLF.

 

 

Harbinger issued a statemnt regarding their disappointment.  They own alot of CLF shares and at some point may bail.  the buyout proceeds and should be finalized soon.  This creates a pretty big US resource company with dual focus in iron ore and coal.

 

ANR is simply flying this AM.  CLF is doing well. Whew!   I am cautious on CLF.  Harbinger has enough shares currently to really cause PPS grief for CLF depending how they play it!  we will see?

 

Kutz 

This what CLF is buying:

 

 

The vote has now been set for during November!

 

I'm down on both and its due to the general market and the expected harbiger sell off of their shares.  I get to vote due to my buy-in date.

 

This combined company now would have much more serious iron/coal plays in the US, Canada, South America, and Australia.  Some mass here now!  Must see where steel and the economy are heading going forward.

 

Kutz 

On the negative side for CLF, this indicates a softening in steel in the US and that impacts CLF!

 

 

I also have to start thinking more globally for this company.  Due to other actions, their coal/iron capabilities have really grown and this is no longer just a heavily dominated North American story.

 

Maybe just in time?

 

Kutz 

CLF looking to sweeten ANR deal to get shareholders to bite given current market situation.

 

 

Disclosure:  Kutz owns a little of both currently.

 

Kutz 

Well ANR management recommends accepting the deal with CLF.

 

 

This play did not work out for me based on the last couple of months of stock market implosions.  I get 95 shares of CLF and 2,223.00 in cash out of this.  That does not make up for what I paid for my ANR shares. Down a few hundred.

 

Still I about double my holdings in CLF going forward (they now are larger and more diverse) and I guess the current calculations of profit/loss can change in the interim between today and 11/22 (the vote) either way!

 

Given this falling out in this market, it could have been worse!  To keep my CLF record of profit off every trade, I have become a long-term holder in CLF again-LOL.

 

It will be back-could be holding a worse stock going forward!

 

Kutz 

 

Kutz 

Whoa Nellie!  They called it all off!  Another victim of the economic slowdown!

 

 

Kutz 

 

 

Deferred 1.2 out of 25?  Whatever-anything to drop a ticker 17%-What a market.

 

 

Kutz 

...sucks if you are alread in CLF... might make for a decent trade if you aren't... (jmo)

Agreed-Scott its over done and a potential trade.  Steel production is down with the economy as it is but its hard to cough up the cash currently with everything else going on!  People forget they ship iron through the Great Lakes and they are kind of frozen right now-some companies may ask for delay in shipment in this environment.

 

This ticker is basically beaten down 75% off its high.  Is that enough or will the market get even more crazy???? 

 

For now I stay on the cash path in the face of all swirling around.  Somehow I think I have time here to initiate a trade and my 100 shares already owned here will recover over time.

 

JMO

 

Kutz