I have sold all of my holdings 24.5-25.2 range as i believe oil continues to go down and so will steel and other commodities as well - dollar is just too strong and continues to be the case.. I have many other commodity stock anyways.
Have you seen the CRU pricing for hot roll steel lately. Going below $500/ton. Not good. Just like the price of oil. Too much steel available with foreign steel coming in like crazy. Strong US dollar affect. I do not see this getting any better until maybe the second half of the year.
Do not have a position. Waiting for the move down, then jump in. I'm thinking around $17 - $20 range. The lowered guidance for the 1st qtr will come and hit the stock.
so many bridges look like they are reay to fall ..old rusty piles are crumbling.. salt ice flows really beat the heck out of city concrete and iron infrastructures.. wish the bloggers would at least realize we are not chumps online! lol
no doubt snow and ice and the snow salt melt causes corrosive chrome ,, that's why I'm posting here..I think bad winters bode well for steel industry
You better realize you cannot trust fed numbers today especially under this Administration....
If you knew anything about residential construction, hardly any subcontractor is making money, barely breaking even. Banks are making loans ONLY to resell fast- just like the market collapse a few years ago.
Today a majority of ALL AUTO LOANS are now subprime loans- NOT prime lower interest loans as in past, another very bad thing. In fact Wells Fargo exec early morning hours on Worldwide Exchange stated this is a damning concern going forward just with the sheer amount of high interest subprime loans being used to finance cars through dealerships...
you better look back every once in a while to make sure you still have people following you
All data point a big rally ahead for steel industry. Today's data new home sales HUGE by 481,000 home sold vs 470K estimated. This is just the beginning of the Q1, Q2 strong outlook. Cars are the same pattern due to tax refund, people are buying cars. OIL IS HOLDING TODAY DESPITE INVENTORIES, that tell you, the SEASON OF BIG DEVELOPMENT IS COMING TO THE USA....houses will rally huge together with cars...buy X NOW...Expect 60 by Q2
CRUDE IS RISING 0.59 cents today from 49.00 to 49.59...crude is holding and roaring to breakout again 50...MARCH IS COMING. FULL DRIVING SEASON.. CONSTRUCTION IN THE RISE, CARS IN THE RISE
I guess you either covered your short today or you want to continue to give your cash away.
Not a good move. Analysts have this at $.44/sh profit this qtr. How wrong is that. X will lose money this qtr. Once they adjust down, the stock will follow.