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ArcelorMittal Message Board

  • coverthered coverthered Apr 3, 2013 9:46 AM Flag

    What We Saw Yes"turd"day

    I think what we saw yes"turd"day was someone buying on the cheap on the Europe exchange and then selling it higher on our exchange. That would explain the heavy volume in pre-market and then the volume drying up later in the day. If you want to know what this stock is doing on European exchange go to Bloomberg and then enter the name Arcelormittal and chose the MT:NA bullet. Someone was pinching pennies yesterday. I will leave it up to you to think of what type of person, or organization would do that.

    Another thought to keep in mind is this comapny just did a secondary on Jan 10th at $16.75 per share. Those involved in that offereing at some point you would think would have to try to rescue the price so not to look so bad two months later. But, in today's world they may not. As another negative I lost $85,000 on this company two years ago when I bought it at $42 only to see it go to $32 in a couple of weeks. When it poped back to $32 I sold for that loss and it hurt big time. About three months later it was at $13 a share. This company can lose it's value better than any other company I know. My avg cost is only $13.06 since I bought in about a week ago and I am still worried to some degree. Looking for a bounce now to get out before the overall goes in the toilet! CTR

4.35+0.020(+0.46%)May 24 4:03 PMEDT