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2 Mining Stocks You Might Want to Unload

If that happens, we've got a definitive sell (or short) signal for VALE.

Cliffs Natural Resources

Nearest Resistance: $22
Nearest Support: N/A
Catalyst: Analyst Downgrade

Another mining company, Cliffs Natural Resources (CLF - Get Report), is getting sold off today as well. The mid-cap iron ore and coal producer is down around 6% after Goldman Sachs changed its rating on the firm to "sell." After the beating that the basic materials sector has taken in the last few months, many sellers were looking for any excuse to get out of a stock like CLF -- Goldman's analyst rating was as good an excuse as any. Worse, sell ratings are rare enough on Wall Street to justify an exodus when a stock gets downgraded that hard.

The move is pushing CLF to new 52-week lows today. If you still own this stock, it's worth reconsidering - this downtrend isn't slowing down.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.



-- Written by Jonas Elmerraji in Baltimore.

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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

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