Investing....What about Steel Stocks ?

[Hog's Gone Fishin]

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 ?

[Simply Red]

http://i.imgur.com/gy6N3Cd.gif

[ptlyon]

For what Pittsburgh is going to do to us this weekend, it would be smart to invest in steel.

[ChiTown]

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.

[Simply Red]

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.

[KCUnited]

Could really weigh down your portfolio.

[Hog's Gone Fishin]

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 :hmmm:

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.

[mikeyis4dcats.]

Chinese companies are all state controlled. They don't go "belly up".

[Hog's Gone Fishin]

Possible Game-Changers
As mentioned before, a very high-profile overture by the Chinese government to shore up its vast network of steel mills could keep cheap steel flowing throughout most of the world. An effort from the U.S. government to bring more parity to North American prices and the rest of the globe, meanwhile, would change the price equation considerably.

“The only way steel prices can come down markedly here is if North America starts equalizing with international prices,” Anton said. “But it hasn’t done so in four to five years and I don’t see a big push for it to do so next year. And if bankruptcies don’t happen in China and the government bails out their steel mills, that means prices stay very low at least until mid-year and if the Europeans fail, prices will rise. If China doesn’t bail out the steel mills, they start going bankrupt this year and early next year and prices go up

:shrug:

[Halfcan]

A year ago I got .39 cents a pound for a truckload of scrap I wanted to get rid of. A few weeks back I got .03 cents a pound for the same truckload.

It was hardly worth the gas to take it up there, but still cheaper than having the trash haulers take it.

I wouldn't buy any stocks at this time in this industry unless you want to wait ten years for it to rebound.

[Dave Lane]

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.

[displacedinMN]

I have been cleaning out my parents house. The metal that we find is not worth the trip to the junkyard. There was a lot. pans, shelves, random crap. We were told 60.00 a ton.
So most of it went in the garbage-land fill. I feel bad, but the dumpster was more cost effective with everything else we had to dump. (BTW 50 cu yards of stuff from my parents house)

Two years ago-at the farm equipment auction-guys were in a bidding war for scrap metal. Batteries, milk cans, old iron, barn tin.

Heard China was making metal and selling it as scrap.

[Dave Lane]

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.

[cosmo20002]

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 ?

sounds like a steal

[ChiTown]

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.

[KC native]

There are only two times during the business cycle that you want to hold commodities or commodity related stocks (like steel companies). You want to own them at the beginning of the cycle after a recession starts to turn back to growth and when you see inflation during the latter stages of an economic expansion.

Steel is especially challenged because of China's state owned companies who won't ever completely shut down, lack of global growth, and an oversupply of steel right now.

[Hog's Gone Fishin]

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 ?

[ChiTown]

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.

[Eleazar]

I'm sure they'd be durable, but I can't imagine walking around in them all day. They'd be cold in the winter too.

[Hog's Gone Fishin]

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.

Gotcha !

but I have to wait for Rainman to see what he thinks also because if he get's in then Buffett gets in. Buffett follows Rainman.

Buffet gets in then the stock automatically goes to $30

[Hog's Gone Fishin]

I'm sure they'd be durable, but I can't imagine walking around in them all day. They'd be cold in the winter too.


STOCKS NOT SOCKS GOD DAMMIT ! :cuss:

[ping2000]

Thought this said "Steel Socks" and was a new mafia twist on cement shoes.

[Rain Man]

Gotcha !

but I have to wait for Rainman to see what he thinks also because if he get's in then Buffett gets in. Buffett follows Rainman.

Buffet gets in then the stock automatically goes to $30


I'm not in steel, so I don't see Buffet doing anything.

I've got some stock in BHP (iron ore and other stuff), and I can confirm that this industry is in a down cycle. BHP has been beating me with a stick.

[Hog's Gone Fishin]

I'm not in steel, so I don't see Buffet doing anything.

I've got some stock in BHP (iron ore and other stuff), and I can confirm that this industry is in a down cycle. BHP has been beating me with a stick.


:deevee:

[Hog's Gone Fishin]

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.

[Hog's Gone Fishin]

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

[Hog's Gone Fishin]

Another steel stock (GGB)

5 year high $13.00

Right now $1.46

[ModSocks]

Everytime i see this thread title i think it reads as "Steel Socks"...

Who the hell woulda wanna invest in Steel Socks?

[Amnorix]

Current price now at $7.78

52 week low $7.50


Took a quick look. Just looks ugly for steel for the foreseeable future. USX uses inefficient blast furnaces, which means their costs of production are higher than many other big steel companies. They are also a big oil and gas supplier, but oil and gas is in the tank now too becuase oil prices have tanked.

Their nickel-a-share dividend isn't exciting, and they basically need either oil and gas in particular, or the world economy in general, to take off, for their stock to go up much.

I would assume downside risk is pretty small. Can't imagien USX becoming a penny stock, so if you're patient enough to wait....potentially a long time...

[Amnorix]

Everytime i see this thread title i think it reads as "Steel Socks"...

Who the hell woulda wanna invest in Steel Socks?


ROFL


I'm sure they'd be durable, but I can't imagine walking around in them all day. They'd be cold in the winter too.

[Hog's Gone Fishin]

Took a quick look. Just looks ugly for steel for the foreseeable future. USX uses inefficient blast furnaces, which means their costs of production are higher than many other big steel companies. They are also a big oil and gas supplier, but oil and gas is in the tank now too becuase oil prices have tanked.

Their nickel-a-share dividend isn't exciting, and they basically need either oil and gas in particular, or the world economy in general, to take off, for their stock to go up much.

I would assume downside risk is pretty small. Can't imagien USX becoming a penny stock, so if you're patient enough to wait....potentially a long time...

If I had Warren buffet money I'd throw a billion at it shortly.

[Amnorix]

If I had Warren buffet money I'd throw a billion at it shortly.


According to Motley Fool, Buffett wouldn't. At least not in 2010.

http://www.fool.com/investing/value/2010/09/01/is-us-steel-a-buffett-stock.aspx

...which is probably why he is a multi-billionaire known for his genius at financial investments, and you are better known for your ability to extract semen from boars.


:p

[Hog's Gone Fishin]

According to Motley Fool, Buffett wouldn't. At least not in 2010.

http://www.fool.com/investing/value/2010/09/01/is-us-steel-a-buffett-stock.aspx

...which is probably why he is a multi-billionaire known for his genius at financial investments, and you are better known for your ability to extract semen from boars.


:p

The price is waaayy below 2010 now.

And Warren wishes he had my talents.

[eDave]

The price is waaayy below 2010 now.

And Warren wishes he had my talents.

He could be RICH.

[kepp]

I have a question, not about steel stocks, but about investing in general. I have an emergency fund for my family (following Dave Ramsey's em. fund advice) but its sitting in a savings acct earning 1% interest. Is there a place in which to park this fund, having it earn income investing level returns, but also have access to it on short notice without (or with very little) penalty?

[eDave]

I have a question, not about steel stocks, but about investing in general. I have an emergency fund for my family (following Dave Ramsey's em. fund advice) but its sitting in a savings acct earning 1% interest. Is there a place in which to park this fund, having it earn income investing level returns, but also have access to it on short notice without (or with very little) penalty?

IRA is easiest. But you can withdraw from most any investment. No penalty for 401K withdrawal if an emergency.

[kepp]

IRA is easiest. But you can withdraw from most any investment. No penalty for 401K withdrawal if an emergency.

But only certain types of emergencies, no? Also, from what I'm reading, you can withdraw any of the principle at any time with no penalty, since contributions are post-tax. But you get penalized on withdrawing earnings.

[kccrow]

Buy when it gets to $5. You're going to make that back 10 fold in 2 years.

[Rain Man]

I'm not in steel, so I don't see Buffet doing anything.

I've got some stock in BHP (iron ore and other stuff), and I can confirm that this industry is in a down cycle. BHP has been beating me with a stick.

As an update, BHP has stopped beating me with a stick. Now it's using a baseball bat with a nail in it.

[Hog's Gone Fishin]

Buy when it gets to $5. You're going to make that back 10 fold in 2 years.

OK , sounds like solid advice.

[Hog's Gone Fishin]

As an update, BHP has stopped beating me with a stick. Now it's using a baseball bat with a nail in it.

Just remember Rain, you only lose if you sell it while its down. It will come back .

[kccrow]

OK , sounds like solid advice.


You want solid advice? Good luck. If anything, follow Warren Buffet's: "you pay a dear price for a cheery consensus.”

If it feels good buying it, then you probably shouldn't. If you feel nervous about it, dive in. If I had the cash to throw at steel, I'd do it now. That's me. Do I worry about the turnaround? Sure. Do I think its going to go back up significantly? You bet your ass, else this whole country is in a world of hurt.

[Jewish Rabbi]

But only certain types of emergencies, no? Also, from what I'm reading, you can withdraw any of the principle at any time with no penalty, since contributions are post-tax. But you get penalized on withdrawing earnings.

I have a Netspend savings account that earns me 5% on up to $5000. Seemed a little sketchy at first since it's linked to a prepaid debit card, but the funds are FDIC insured and available at a moments notice through the debit card if needed.

[TigeRRUppeRRcut]

This market is about to take a hit after they roll out the interest rate bump. If you wanna go safe with good returns, put your money in biotech mutual funds after stocks take a plunge

Oil stocks are also hitting bottoms and will yield some big gains over the next 3-5 years.

[kepp]

I have a Netspend savings account that earns me 5% on up to $5000. Seemed a little sketchy at first since it's linked to a prepaid debit card, but the funds are FDIC insured and available at a moments notice through the debit card if needed.

I will check that out. Thanks!

[kepp]

This market is about to take a hit after they roll out the interest rate bump. If you wanna go safe with good returns, put your money in biotech mutual funds after stocks take a plunge

Oil stocks are also hitting bottoms and will yield some big gains over the next 3-5 years.

So I normally don't touch anything on my 401k, but is this a time when I should think about moving everything into less aggressive funds? Then move back in to aggressive growth when it stabilizes?

[Hog's Gone Fishin]

Well, looks like it bottomed out at $6.15 and now is sitting at $16 +.

Someone could have made a shit load of money. Just think if you had bought a million shares.

[ModSocks]

Everytime i see this thread title i think it reads as "Steel Socks"...

Who the hell woulda wanna invest in Steel Socks?

And i still keep reading it as "steel socks".

[Stanley Nickels]

Well, looks like it bottomed out at $6.15 and now is sitting at $16 +.

Someone could have made a shit load of money. Just think if you had bought a million shares.

Just think if I had $6,150,000 to begin with!

[Rain Man]

Well, looks like it bottomed out at $6.15 and now is sitting at $16 +.

Someone could have made a shit load of money. Just think if you had bought a million shares.

I hope you took the advice in this thread and bought a lot. At least, I'm presuming that's what the thread advised you to do.

[Hog's Gone Fishin]

I hope you took the advice in this thread and bought a lot. At least, I'm presuming that's what the thread advised you to do.

No, hell no I didn't buy any. I was soooooo close at $8 to buying 1000 shares.

[Rain Man]

No, hell no I didn't buy any. I was soooooo close at $8 to buying 1000 shares.

I got lucky on some timing with this downturn. I had some cash and bought several stocks. Most of them got a 10 percent bump soon afterwards out of sheer luck. I didn't double my money on steel, but I'm happy nonetheless.

[Hog's Gone Fishin]

I got lucky on some timing with this downturn. I had some cash and bought several stocks. Most of them got a 10 percent bump soon afterwards out of sheer luck. I didn't double my money on steel, but I'm happy nonetheless.

I love a good success story. Congrats !

[SAUTO]

For some reason I read the header as steel socks

[Hog's Gone Fishin]

For some reason I read the header as steel socks

That's like the 4th post saying the same thing you blind ass bastards. Get some glasses !

[Halfcan]

Just made a nice investment into Royal Bank of Canada.

Solid growth and great dividends. It is worth paying the international tax on the dividends-it still pays more than U.S. banks and much safer. Also have Bank of Montreal. I buy and hold for the dividend income.

I just sold a penny stock (WRMT) that was a pure dividend off of PowerClouds-they split the company. It recently went up from 2 cents to $3.00 so I cashed out at the very top before it dropped again.

Looking for my next stock if anyone has a good one?

[Discuss Thrower]

reddit.com/r/wallstreetbets

[88TG88]

How much are you selling your steel socks for ?

[Lzen]

How much are you selling your steel socks for ?

Ha ha, when I first read the title I thought it said steel socks. ROFL

[Hog's Gone Fishin]

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

[LoneWolf]

Now it's at $26.60


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

If the first sentence is true, and you believe the second sentence to be true, you better be buying like a mofo on November 3rd. That is if Trump wins.

[Hog's Gone Fishin]

If the first sentence is true, and you believe the second sentence to be true, you better be buying like a mofo on November 3rd. That is if Trump wins.

There are going to be several stocks that could make people rich . Concrete companies along the border are some of them. Aluminum and steel, Coal.

[LoneWolf]

There are going to be several stocks that could make people rich . Concrete companies along the border are some of them. Aluminum and steel, Coal.

Trump isn't building a wall. I'm positive of that.

[Hog's Gone Fishin]

Trump isn't building a wall. I'm positive of that.

Technically you're right. Mexico will build the wall.

[lewdog]

Technically you're right. Mexico will build the wall.

ROFL

[Hog's Gone Fishin]

When I started this thread it was at $12. Now 36.80

Assholes !

[Hog's Gone Fishin]

The Dakota pipeline will be built by American steel ! Executive order .

[kccrow]

When I started this thread it was at $12. Now 36.80

Assholes !

Don't blame me, I told you to buy. :D

[Hog's Gone Fishin]

Another steel stock (GGB)

5 year high $13.00

Right now $1.46

GGB now 4.27

[Hog's Gone Fishin]

Reading through this thread was fun, and sad. X got down to 6.50 . Oh my ! It's probably still a money maker at 36 but I can't afford that.

[Hog's Gone Fishin]

Apaloosa LP just bought 360,000 shares of X

[Pasta Little Brioni]

You coulda retired, hog. Never listen to CP dude ROFL WOW