Recent

% | $
Quotes you view appear here for quick access.

United States Steel Corp. Message Board

  • planet0723 planet0723 Apr 23, 2013 3:28 PM Flag

    Now X is looking ugly...Why?

    Is there something am not aware of ?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • This is a buy and hold stock...look for the trend up...can't get caught up in the day to day movements because you won't be able to explain them. trend has been down for the last 4 months for this thing and it feels like a lot of support in the 16'ish area. look at the intra-day volumes when this stock has broken thru 16. Today and yday are perfect examples. My hope is that we trade net sideways until earnings. If, and it's a big if, x beats and revenues beat then we start the trend back up. I don't expect anything crazy, but this should at least get back to the low 20's. The short interest is almost 26% now, one of the highest %'s in stocks. The fundamentals that drive demand for this co's products are starting to improve. Look at things that correlate well with steel; coal, gas, iron ore...Gas has exploded here which will bring more opportunity for new wells. Coal has for sure found a bottom. Think about the inputs to steel; coal, iron, etc. Those prices are slowly starting to climb. They are climbing because demand is slowly starting to clean up huge inventories. China PMI still over 50, if Europe can turn things around, and if India continues to grow we will start sucking up capacity. These countries are growing by building infrastructure. Let's face it the FED is not backing off QE until unemployment comes down or inflation takes off. Neither seems to be happeneing. This company is not going under. The access it has to money hasn't been tapped. It continues to restructure debt with lower rates. This is a good opportunity in my opinion. I'm sure I will get bashed by the shorts, and that's fine. That's what makes markets.

 
X
19.99+0.76(+3.95%)2:55 PMEDT