The way I draw the ATI chart I could see it bounce back up to 120 before some profit taking again. The fundamentals don't piss me off either... Anyone want to throw their 2 cents on that?
The steel trade is getting a little long in the tooth. If you look on the chart, you can see the 50 day moving average starting to pitch down. While I believe that ATI will probably reach 120, I think there are better trades out there. Specifically Apple, Bidu, Riverbed, etc.