Bookkeeping: Closing Cleveland Cliffs (CLF)

I thought the 'student body' would buy all commodities en masse, and most are running together.  However natural gas, oil, and iron ore (and coal to some degree) have been the laggards.  Meanwhile, copper & soft commodities (agricultural especially) have been rockstars.   Therefore, my position in iron ore/met coal producer Cleveland Cliffs (CLF) has been the wrong choice.  Instead I should have been in Freeport McMoran Copper & Gold (FCX) for example.

Here are the "ags"

Since I've added some new positions in the past week, and I don't want the # of portfolio positions to expand too much I am going to boot the 1% allocation in Cleveland Cliffs and close it out with a 4% loss.  Technically the stock is forming a sideways base over the past 7 days.  From such bases come breakouts:  if it holds the 50 day moving average there is still a good chance the move from the base will be upward, but if the S&P 500 can show any signs of weakness, the breakout could be to the downside.  It's a flip a coin proposition at this point so one to review later.

No position