also, numerous houses have upgraded steel and are starting to sponsor the steel trade. seasonal spring/early summer rally will come and wlt will surpass it's recent all time highs. for now lets just digest the recent bottom
chu chuuuuu .... i think i can. i think i can..... unless that plastic surgery botox junkie blows up an atomic bomb or something, wlt has seen the lows.
about a 4% correction from the top. in the markets that is. little more on the nas. few more % points and that should be it. we are in a bull, and quite a powerful one. we won't get more than that. given unrest in the world i'd say we're holding up rather well....
Its all about preventing rebellion. These kingdoms in the mideast are going to join China and India in spending sprees to try and pacify the masses. Food, shelter, and transportation are going to drive imports: tractors, cars, rail, and new construction. Im long DE, VALE, WLT. But any combination of other iron ore, coking coal, and ag plays will work with a 10-15 year horizon.
Im shorting oil by the way. Ghadafi wants a deal, and hell get one even if he loses power. If he sabatoges those oil fields he is signing the death warrant of his entire family, friends, thier friends, and maybe his entire tribe. Even if hes crazy, someone would stop him from the inside circle.