to you longs that are in it for the longterm and stick with Dan and NUE like i am what does everything think about adding or where our bottom is. I know these are gift prcoes down here and there is money to be made but what does everyone think....do we go below 30 again maybe retest 26, could we go lower? i love this stock and am long term and trying to decide where to add next...im thinking of wiating until the 4th Q gets some light shed or Dan gives a little forecast....maybe there will be some even cheaper shares... no matter what this is best in breed and people will look back at this and wish they bought. great company here...go NUE!
I am a new long having just bought NUE on Friday. This is an exciting company. When you look at the 52 week high and low it seems like a steel (pun intended). The fundamentals have probabky changed due to overall market conditions, however I do not believe the fundamentals have changed as much as the stock price.
We had a gain that held up all day on Friday in the face of a down market. Espcially heartening considering how the other steels fared. Most of the hedges are already out and the remaining investors in this sector seem to recognize Nucor's superior position. A downturn lasting more than 4 quarters changes the outlook but otherwise, this is beginning to have the feel of a bottom. However, it is not necessarily the right time for investors (long-term) to jump in. The risk is still high. Service centers are working off existing (high cost) inventories and are doing little buying. Waiting to see some evidence of fresh demand.
IF you feel this world wide financial mess will last more than 6 months, I'd suggest caution. IF this mess lasts over a year, we'll probably get a dividend cut-that will be yr best shot @ picking a bottom-. JMHO