Contrarian Alert: Is It Time To Buy Cliffs Natural Resources (CLF)?

The party continues on Wall Street; investors remain bullish on stocks judging by the sheer price action as both the S&P 500 and Dow Jones Industrial Average managed to close out last week well above their all-time highs. The economic data front is sending hints of a potential downturn as manufacturing indicators remain weak; nonetheless, this has failed to put a noticeable dent in the bulls’ armor of confidence as markets shrugged off last week’s worse-than-expected industrial production data [for more market news and analysis subscribe to our free newsletter ]. Not every stock is surging to record highs; in fact, one particular large-cap miner offers a risky, but compelling, opportunity for investors still looking to get a piece of the action on Wall Street. Contrarian investors should add Cliffs Natural Resources ( CLF ) to their watchlist because this former S&P 500 sweetheart is resting on major historical support, thereby offering a great entry point for those with a bullish outlook for the steel industry and the global economic recovery as a whole. See the full story here → Related Posts: 13 High-Yielding Commodities For 2013 Ultimate Guide To Steel Investing