The price movement in MT, seems much weaker than other companies like AA and X. They are not strong either, but MT is barely back to where it was a month ago. What is is going to take for it to reach 20s again, let alone 18?
A month ago ? This is the highest level since the spring. This is all euro and macro related. Look at the euro/dollar...now approaching 1.30 again. Last october this stock went from 15 to 20 in two weeks (it also came off just as much). I really think that the bulls will grab this stock to 20 by Halloween. With hedge funds underperforming they now have the green light to move this stock very easily with some fog lifting on the euro uncertainty and China willing to support growth measures. Most hedge funds are underperforming. They have an easy argument with this stock to move it higher and bring it back to book value.