Take A 30% Gain on Cleveland-Cliffs

Infrastructure-related stimulus will likely arrive at some point in 2021, but the rallies in these sectors look very overextended. Our target price for CLF was $22 by the second half of 2021. It’s covered much of this ground in a matter of weeks. Since we might may be able to re-enter this position on favorable terms in the months ahead, let’s take gains today.

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Dan Amoss

Dan Amoss, CFA, tracks aggressive accounting and other red flags that markets miss. He’s a student of the Austrian School of economics and Daily Reckoning fan since 2000. Agora Financial relies on Dan for macro market commentary as well as profitable plays like his 2008 call to readers to buy Lehman Bros. puts, which...

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