Friday, June 1, 2007

WATCHLIST UPDATE : We just talked to a STEEL vendor who we trust and he said STEEL is going crazy!!! (SIM) (GNA) (STLD) (X)

Vendor said he can't quote contracts more than 15 days out because the price of STEEL just keeps going up TOO FAST!

BUY SOMETHING related to STEEL!

try:

riskier:
Grupo Simec S.A.B. de C.V. (ADR) (Public, AMEX:SIM)
GERDAU AMERISTEEL CORP COM (GNA: NYSE)

safer:
UNITED STATES STL CORP NEW COM (X: NYSE)
STEEL DYNAMICS INC COM (STLD: NASDAQ)

p.s. most have had huge runs already and are not on a dip, but the "FEELING" this vendor gave us was too much not to report back to the DIP team!

7 comments:

Anonymous said...

MAY 29th

Steel Dynamics Started At Buy At Citigroup

Anonymous said...

What about NUE?? Crammer mentioned it yesterday ! What's your take on it??

Anonymous said...

yep, throw that one on the list too....

NUCOR CORP COM (NUE: NYSE)

Price / Earnings (TTM) 12.0x


"X" ..PE is closer to 10.....

either way we say BUY THEM BOTH!

Anonymous said...

Just bought a small bunch of NUE at $68.9. Do you just want to flip these too at a 5% or do we play this STEEL a little longer and seee how hard it is?? Thanks again.

Anonymous said...

NUE

52-week high 52Wk High: 69.93

once it breaks through 70/share...it should go up more, but until it breaks through , you may see some tech selling.

Anonymous said...

MARKET VECTORS ETF TR MV STEEL INDEX (SLX: AMEX)

ANOTHER PLAY.....

Anonymous said...

J.P. Morgan hikes U.S. Steel price target again, to $134
Marketwatch - June 06, 2007 10:07 AM ET


Related Quotes
Symbol Last Chg
X Trade 118.40 +0.88
Quotes delayed at least 15 minutes

SAN FRANCISCO (MarketWatch) -- J.P. Morgan analyst Michael Gambardella on Wednesday lifted his six-month price target on U.S. Steel Corp. shares to $134 after the company broke through his past two price targets in late March and in late April. Shares are likely to continue to climb because of "sustainably higher" earnings per share and accelerating mergers & acquisitions activity, he wrote in a note to investors. "The globalization trend in the steel industry will push companies to acquire North American steel companies, including U.S. Steel given its attractive valuation, product and geographic diversification and coveted iron ore assets," wrote Gambardella. In early trading, U.S. Steel shares rose 0.3% to $117.97 after passing through a new all-time high. It was the only stock in the 14-member SIG Steel Producers index to gain. Gambardella rates U.S. Steel overweight.