Betting Walter's No Cliff
After earnings last week I dumped Cliff Natural Resources (CLF) for a loss. It stung a bit, since I had only been in the stock a short time before the earnings debacle and guide down. At that time I questioned selling after such a big drop, but now seeing CLF in the $27s it just reaffirmed that some of your better trades will be taking losses. They don't feel good. They aren't going to make you rich, but they will keep you in the game and help you maintain flexibility.
At the same time I was kicking CLF to the curb, I was battling second thoughts on Walter Industries (WLT). There has been enough correlation between these two I immediately became concerned WLT would quickly follow suit. Again, I held to the strategy I originally laid out, so I still hold WLT. Now, looking over this chart a bit closer, WLT looks like it may be poised to move higher. The whole metals and mining group has done its best to shake off the weakness in precious metals, although the gold and silver miners have been killed and now the sellers are really going to work on the group....150 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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