3SOF

Can someone tell me -- How does one tell what the pre-market price is?  TIA

AKS suddenly dropped about 20cents.. what is going on?

any idea about its sudden drop at this moment? Steel industry is turning back down now?

Quote from: cmshop on June 17, 2005, 10:21:05 AM
AKS suddenly dropped about 20cents.. what is going on?

Its called profit taking.. the thing ran up $1 in 4 days

and when it failed to get through resistance again in the 7.60's this morning people sold-

I'm still holding mine which I bought at 6.74 last week.. I think it has a good chance of breaking that resistance and if it does its off to the races and well worth the risk

Could someone please tell me: How is all this news (incl. what I posted earlier) gona affect China and their building program? Trying hard to learn 

More on AKS:
NEW YORK, June 16 (Reuters) - Steelmaker AK Steel (AKS,Trade) on Thursday said it will drop its raw material surcharge for flat-rolled carbon steel shipped in July to $208 a ton, down from the June surcharge of $213 a ton.

The company raised its July surcharge on electrical steel to $200 a ton, from $170 a ton in June.

The surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the May purchase cost used to determine the July surcharges.

Profit taking.

After all its steel, bit heavier

nice entry point.
nice financials.
CLF up today.

AKS tested and bounced on $7.30 three times today.  fell from $7.52 on Thursday.
bounce....bounce....bounce....
volume slowed a bit today after testing $7.65.
Merrill has a $20 price on AKS.

meanwhile CLF (another steel stock) added $0.75.

AKS tested and bounced on $7.30 three times today.  fell from $7.52 on Thursday.
bounce....bounce....bounce....
volume slowed a bit today after testing $7.65.
Merrill has a $20 price on AKS.

meanwhile CLF (another steel stock) added $0.75.

i stated CLF was a metal stock.  it is actually a mining stock.
just correcting myself.

Atleast for short term both metal and mining sector are bullish.

How can you be sure about that - steel and mining stocks are bullish at least in short term?

This stock seems to be affected by news out of China.



NEW YORK, May 27 (Reuters) - Merrill Lynch said on Friday the recent pullback in steel shares has made the companies a "good value" for investors, singling out United States Steel (X,Trade) and Nucor (NUE,Trade).

"Industry consolidation has led to fewer and financially stronger steel companies," wrote analyst Daniel Roling in a research note. "We believe most of the steel equities that we follow remain very attractive on this pullback and offer good value."

The price of the benchmark hot-rolled steel has recently fallen to $540 per ton from $580 per ton because of excess inventory. But steelmakers have taken steps to cut production to better reflect demand, Merrill said, and it predicted that steel prices would stabilize around current levels.

The S&P Steel Index ((.GSPSTEEL)) has fallen to about 100 from a high of 132 in February, partly on concerns that China is stepping up exports, potentially driving down prices. "Yes, they are exporting more steel, but they still import more finished steel than they export," Roling said in the note.

Nucor shares opened up more than 2 percent, to $54.06 on Friday while U.S. Steel traded up nearly more than 3 percent, to $40.80 Friday on the New York Stock Exchange.

AK Steel (AKS,Trade) shares rose more than 5 percent to $7.86, making it one of the largest percentage gainers on the NYSE in early trade.

Merrill has a price target of $65 per share for Nucor, $60 per share for U.S. Steel, and $20 for smaller steel producer AK Steel (AKS,Trade).

Quote from: cmshop on June 18, 2005, 08:43:44 PM
How can you be sure about that - steel and mining stocks are bullish at least in short term?

That was opinion of one of the columnist at Realmoney. I dont have their subscription and came to know through a friend. Sorry can't post the article. However, one Realmoney columnist did said that Gold has run too far and may pull back.

The biggest reason to be bullish on steel are:

1. Their pull back from year highs [AKS was in double digits recently]
2. Consolidation [read buyout] in Steel industry is far from over. Indian powerhouse Mittal Steel may be on the hunt for further buyouts.

However, the biggest problem that I see with steel is its 'cyclical' nature. Other then that I think the volume is flowing to this group and you know 'volume' means what

A small player like AKS with PEG ratio 0.26 could be a better acquistion target, though I am just expressing my own opinion. Anyway, as long as charts are ok, I am staying with AKS, bought it for trading not investing.