What's the deal w/ US Steel? From 190 to 66?

Discussion in 'Trading' started by Happy Hopping, Oct 2, 2008.

  1. I want to short this guy. I've watching since they have that sharp drop from 190, I've been waiting for it to bounce since. But what's w/ this co.? how can they fall that much, it's like there is no bottom?

    And why on earth is it dropping by that much?
     
  2. S2007S

    S2007S


    global recession


    no need to short it now, I would say at least 70% of the drop is done with, little to late to get in now. I recommended going short at 150+....
     
  3. all these commodity stocks have been decimated. Steel, iron, potash,oil,
     
  4. I suspect some Warren Buffett type investor might buy US Steel stock symbol X. Yahoo.com http://finance.yahoo.com/q/ks?s=x reports price / book value of 1.30 and total debt / equity of 0.51. I think those are pretty good numbers from a value investment standpoint ( I do not invest this way ).
     
  5. dsq

    dsq

    SOME POOR LADY CALLED IN TO CRAMERS SHOW YESTERDAY AND ASKED WHAT SHOULD SHE DO WITH X SINCE SHE HAD BOT 3500 AT 165 AND ANOTHER 1000 AT AVG PRICE OF 90!!!

    Did she get fkd or what...bet she luvs that cramer reco...
     
  6. George Bush is president and Hank Paulson is Sec-T.
    'nuff said!
     
  7. To be fair MOS down 41.27% today, so X is not the only commodities stock not holding value.

    I have my eye on MTB, they have 2 downgrade and their price is as high as hell. To make it worse, their CFO seems to be hiding something and not forth coming in the Q&A of the last QTR. earning annoucement. As soon as the SEC deadline past, I'll short this sucker
     
  8. too short a stock.
     
  9. Maybe some analysts 'click and drag' forecasts overstimated China's demand. A bit like oil - its supposed fundamental worth has gone from $200 to $80 in a fw weeks. Can't imagine credit tightness has anything to do with this, must be China demand falling off.
     
  10. Brandonf

    Brandonf ET Sponsor

    Because as popular as a group is in a bull market, it can become just as unpopular in a bear market. Right now money flow is out of commodities, futures, raw materials, stocks, the entire group. Combine this money flowing out with the global slowdown and you have a very compelling amount of weakness in the entire group (commodities)
     
    #10     Oct 2, 2008