ArcelorMittal Message Board
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Back in
After waiting on the sidelines for a couple months, I am in with a new position today. Price was just too attractive. Looks like arbiteurs took the market weakness as an opportunity to flush out stop losses this morning.
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FYI .. arbs don't look to flush out stops. That's ridiculous. Arbs look to sell to lock in the deal spread. They would actually prefer to sell into strength so that they can get the best price. Any purchases now are a bit premature in my opinion. If and when traders ( not arbs ) flush the handle on this thing you can very well see 25 or lower. I will be nibbling there but not before.
- 1 Reply to finalfor28
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As a matter of fact, the arbitrage is to go short MT and long Arcelor. This is what is always done...the purchaser is shorted and the purchasee is bought.
So a lower price is exactly what the arbitrageur wants, because they went short MT soon after they announced their intention to buy Arcelor.
Got it?
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I think you are in way too early. Wait untill it goes to low 20s.
- 1 Reply to great_stox
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bought at 38 on my prception of a dominant player at a fair price for long term appreX... little did I realize that Corp governance here was on a par with that of your basic local water buffalo dealer... last time I EVER buy a 3rd world fly by night w/shysters in charge. Hard to believe such a weak Mgmt team has gotten the Co so large... just goes to show you what captive low rate labor costs can do, while LM pockets the minority s/holder's $$$. Hope long term I get whole but short term ride is way too rocky. Good luck to others in the same pred I am.
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