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Old 10-20-2015, 07:49 AM   Topic Starter
Hog's Gone Fishin Hog's Gone Fishin is offline
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Investing....What about Steel Stocks ?
I took a load of scrap metal to the salvage yard and nearly had to pay them to take it. I remember several years ago people everywhere were dragging trailers loaded to the hilt with steel to the yards making good money scavenging. So I thought I'd investigate a little.

US steel (x) is selling for around $12 / share right now

Less than 12 months ago it was near $50

In 2008 it was $196

Right now it is at a 10 year low.

I'm reading that China is the major producer and supplier but their economy is faltering and the steel companies are in danger of going belly up. When this happens we should see prices move up.

Thinking about throwing 5 at it but don't want to wait for a Chiefs SB win to make a profit.

Thoughts ?
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Old 10-20-2015, 07:50 AM   #2
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Old 10-20-2015, 07:51 AM   #3
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For what Pittsburgh is going to do to us this weekend, it would be smart to invest in steel.
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Old 10-20-2015, 07:52 AM   #4
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For what Pittsburgh is going to do to us this weekend, it would be smart to invest in steel.
Thanks for letting me know who we play - I truly didn't even know.
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Old 10-20-2015, 07:56 AM   #5
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Old 10-20-2015, 07:52 AM   #6
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Quote:
Originally Posted by Hog Farmer View Post
I took a load of scrap metal to the salvage yard and nearly had to pay them to take it. I remember several years ago people everywhere were dragging trailers loaded to the hilt with steel to the yards making good money scavenging. So I thought I'd investigate a little.

US steel (x) is selling for around $12 / share right now

Less than 12 months ago it was near $50

In 2008 it was $196

Right now it is at a 10 year low.

I'm reading that China is the major producer and supplier but their economy is faltering and the steel companies are in danger of going belly up. When this happens we should see prices move up.

Thinking about throwing 5 at it but don't want to wait for a Chiefs SB win to make a profit.

Thoughts ?
I have a company that does a lot of business in the steel industry. I wouldn't touch a steel industry stock right now - and certainly not USS. The steel industry is going to be in the shitter for another 12-18 months. I'd hold off.
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Old 10-20-2015, 07:59 AM   #7
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by ChiTown View Post
I have a company that does a lot of business in the steel industry. I wouldn't touch a steel industry stock right now - and certainly not USS. The steel industry is going to be in the shitter for another 12-18 months. I'd hold off.
In March, Murray Gerber (director of US Steel) bought 7800 shares at 16.88

Now its at 12.00

Any thoughts how much lower you think it might go. I'm reading it won't go any lower or just mostly sideways but agree with the next 12 months.

Seems like every time I see an opportunity and wait then I wake up after it's too late.
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Old 10-20-2015, 08:31 AM   #8
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Originally Posted by ChiTown View Post
I have a company that does a lot of business in the steel industry. I wouldn't touch a steel industry stock right now - and certainly not USS. The steel industry is going to be in the shitter for another 12-18 months. I'd hold off.
This is exactly when you buy. I may buy some and I don't have any stocks at all. I buy on bad news because bad news generally fades. Look at the fundamentals. If the company is solid not teetering on bankruptcy then start buying.
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Old 10-21-2015, 02:36 PM   #9
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This is exactly when you buy. I may buy some and I don't have any stocks at all. I buy on bad news because bad news generally fades. Look at the fundamentals. If the company is solid not teetering on bankruptcy then start buying.
Closed at 10.85 today.
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Old 10-20-2015, 08:48 AM   #10
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Originally Posted by ChiTown View Post
I have a company that does a lot of business in the steel industry. I wouldn't touch a steel industry stock right now - and certainly not USS. The steel industry is going to be in the shitter for another 12-18 months. I'd hold off.
Now is the time to buy. Forget this advice. I may research and buy some. I like to buy down stocks for a 3-5 year hold.
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Old 10-20-2015, 09:05 AM   #11
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Originally Posted by Dave Lane View Post
Now is the time to buy. Forget this advice. I may research and buy some. I like to buy down stocks for a 3-5 year hold.
It's going lower - that's the point. Hold off.
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Old 10-20-2015, 10:09 AM   #12
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by ChiTown View Post
It's going lower - that's the point. Hold off.
10 year high....... $196

12 months ago....... $50

Current Price........$12


Could go to...........$9

Hold off ?
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Old 10-20-2015, 10:11 AM   #13
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Quote:
Originally Posted by Hog Farmer View Post
10 year high....... $196

12 months ago....... $50

Current Price........$12


Could go to...........$9

Hold off ?
I'm just telling you, as a guy who does business with USS, I have them on an extremely short rope. I wouldn't touch their stock at all - not right now.
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Old 12-04-2015, 12:18 PM   #14
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by Hog Farmer View Post
10 year high....... $196

12 months ago....... $50

Current Price........$12


Could go to...........$9

Hold off ?

Current price now at $7.78

52 week low $7.50
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Old 08-01-2016, 05:47 PM   #15
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by ChiTown View Post
I have a company that does a lot of business in the steel industry. I wouldn't touch a steel industry stock right now - and certainly not USS. The steel industry is going to be in the shitter for another 12-18 months. I'd hold off.
Well, I took your advice .

Now it's at $26.60

It's only up 300%

And when Trump becomes president we'll see it at $100
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