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Synalloy Corporation Message Board

  • super_rich_guy super_rich_guy Aug 16, 2007 6:01 PM Flag

    You guys are comedians...


    what is wrong, the sky is falling, help me...whine whine whine.

    If you want to know what is wrong with SYNL, just look at a chart for Nickel and realize they said that people tend to push out orders when Nickel prices are declining. Well Nickel started collapsing just a couple of weeks before SYNL did.

    Steel makers took longer to start their decline, but eventually joined in for the same reason.

    Add to that hedge funds causing huge swings in the market and the massive volatility, and you have a pretty clear explanation.

    Today, AKS, AA, etc. were all down, pretty big too at times. SYNL has a much higher beta, so it tends to get hurt more precentage wise in bad times, but on teh flip side it tends to reward more in good times. So, if things turn in the nickel market or the Fed cuts rates etc. this could be up 10 before a short can utter the word "cover".

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    • you are right. nickle prices are down and inventories are up. however, nickle inventories are up because buyers are pushing purchases till they see stability in price. since everybody is on the sideline, everybody will come back to the market at the same time and down the road we will see the repeat of the last year prices. this will be 40+ in 6 months.

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