just sold some of my IIIN today(40 is my target, but the stock is very strong, so I keep most of them), I would like to buy some shares of SIM, OS said that the profit was going to be strong this year, so it should happen to SIM. will buy some in the next couple of days, I think the down side is high 4's,upside could be in the 9's. Worth the risk. I alrady accumlate over 10K now, but will add another 15 to 20K.
Does anyone have an explantion of why SIM is the steel market step child? Just bought in for a few thousand shares over the past 2 weeks and would like to take a somewhat larger stake but apprehensive as to the extremely low profile and volume. Think steel will be good till at least late spring/summer-IMO.
BTW- I hear Cramer in the background humping Oregon Steel today.
SIM is supposed to have 20+m floating shares, but I guess the floats are traded in Mexico. What we trade here are the ADRs, and I do not know how many ADRs are available. There are virtually no institution investors for SIM. I simply do not understand why SIM acts so differently on the stock market from other steel stocks.
You stated that SIM acts so differently from other steel stocks??
You need to to do a 6 month chart comparison of SIM and FRD. I don't know how to cut and paste it here. Maybe someone else can, but they are right in step. Comparisons with others probably will show the same thing.
I don't know if it is unloved, it is just not on anyone's radar. Sleepy volume. When the volume went skyward in late '04 so did the stock price. It is likely a much more valuable company than it was back then, but there you go...