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ArcelorMittal Message Board

  • mary.gregorich mary.gregorich Sep 21, 2012 9:41 PM Flag

    Cramer said he doesn't like MT or X

    Arcelor Mittal (MT), U.S. Steel (X), Nucor (NUE): “I don’t like the steel business. I don’t like MT or the letter X. Nucor said things are not good. I can’t take this group. It is too hard.”
    Well that is Cramers take.
    If Nucor is having trouble you can bet this won't be easy for steel stocks next earnings even with the reduced EPS estimates I keep seeing for these stocks. If China has been producing steel stockpiles it doesn't help the pricing even with the stimulus they announced. It does not offset the terrible European economies. Does the next following quarter look any better ? It couldn't look much worse this coming quarter.

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    • Cramer's take might be right, but I liked the company/industry news that came out the last 6-8 weeks. At the same time, I bought stock in MT for long term investment. 4-5 year investment. I believe that question of buying MT to Cramer was bad timing, too soon. I still think MT should test 17-19 before December, & 30 by 2014.
      Just another thought: Mitt Romney has a considerable investment in MT, if elected might give a small boost to Steel.

      Sentiment: Buy

    • But remember cramer loved Norfolk Southern Railroad, NSC . Take a look at it. cramer or a coin flip, take your pick. So the fact he don't like steel stocks does not come as a surprise.

      "does the next quarter look any better?
      Next quarter? How about next week?
      If you were a Portfolio Manager and were gearing up to show your results for the end of the 3rd quarter what would you be doing now?

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