If you have been standing, as I did, in the port of Charleston, SC, watching shipload after shipload of steel products arriving from overseas produced by Mittal and imported by Mittal you don't expect anything. Just like I don't expect I'll ever win at the horses or the lottery
My shares didn't cost me $ 16
With the strong US$ and low oil /commodity prices eventually the markets can only go but up. And maybe there is hope for some construction funding from the state or Federal government.
At $ 13-14 the shares are fairly priced.
The chances of the stock doubling some time in the future become bigger and bigger
Did you take your medication today ? CMC has "improved" from 16.80 to17.40 since Aug 6. What $40 are you talking about.
Seen this ? http://finance.yahoo.com/news/why-arcelormittal-dream-europe-turned-130024371.html;_ylt=AwrBJSCzlBVUjkIAGaeTmYlQ
As fr as Europe is concerned Mittal isn't out of the woods, not even close.
I hope for you are right. Latest reports from Mittal were not so optimistic. And the CMC mills need customers to buy their product. And the profitable range for those mills are customers in a 400 mile range. Low cost iron ore makes for low cost steel to compete against. Low cost scrap makes for small margins in the recycling plants.
If you need to speculate with the money you might give as tips, I suggest you don't dine out. And your tips might be about as bad as your stock tips anyway.
That was a toy bought by the people in Zug. CMC never was committed to purchase and support any overseas production. It is a local (southern) scrap recycling and steel producing company.
Steamer, when giving stock market advise to some CMC old timers you need to have some real arguments. Your advise is more of the steam and mirrors type. I'll have more confidence in a riverboat gambler.
Steamer, turn off the heat, you are going to explode; Could it be that the whole market was down and is now moving up again and pulling along CMC for no particular reason?
CMC will move up with better results, better conditions and a better world economy. Not because of your steam (a well chosen handle by the way).