PileOfShit wrote: Mar 16: LIF staged a failed rally today. At the high of the day it was +4.6%, only to fall to -0.9% at the low. The price can't stay above $40, but it manages to close above $39.
IOC's capital expenditure this year is higher than last year by $1.688/share, so it's possible two dividends this year will be 50¢ (the highest LIF alone can pay), but it's unlikely IOC will miss more than two dividends. LIF's investors know only to price the stock on dividends, and $39 is a price that presumes IOC will miss two and only two dividends. Ironically, Champion Iron (CIA), a stock that pays no dividends, may do better than LIF, because CIA is not priced on dividends.
DCE Fe May futures closed @ 794 yuan, +22 (+2.85%) since yesterday, and -76 (-8.74%) since Mar 7.
COMEX Fe Mar futures closed @ $148.85, +4.08 (+2.82%) since yesterday, and -12.11 (-7.52%) since Mar 8.
COMEX Fe Apr futures closed @ $143.23, +3.16 (+2.26%) since yesterday, and -24.05 (-14.38%) since Mar 8.