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Message: There Is Strength in Steel

There Is Strength in Steel

posted on Mar 17, 2010 11:08AM

http://seekingalpha.com/article/193432-there-is-strength-in-steel?source=yahoo

I always begin to look for stocks by using Barchart to screen for stocks hitting the most frequent new highs and then look over the top 10. Today one of the standouts is United States Steel Corporation (X ). I guess X marks the spot. X manufacturers and sells steel and coke products with plants in Indiana, Pennsylvania, Alabama and, of all places, the Slovak Republic.

On Barchart the stock has had price appreciation on 11 of the last 20 trading sessions and is 3 for 5 recently. The stock has enjoyed a 27.76% price appreciation in the last 30 days and has a buy signal on 11 of Barchart's 13 technical indicators with holds on the remaining 2.

Analysts predict great things with an estimated 51.96% increase in sales this year and a 16.4% increase next year. Coming from a loss they look for a 101.9% increase in earnings per share this year and a whopping 2366.7% increase next year -- remember that is coming off a loss. The 5 year compounded EPS increase is expected to be 10% per year. They have 6 buy and 6 hold recommendations out there.

Investor sentiment is high (based on a Motley Fools CAPs member vote of 1862 to 144) that the stock will beat the market this year. The All Stars agree 632 to 28. The Wall Street columnists Fool follows like it 12 to 1.

The stock is firing on all 3 cylinders:

  • Positive price momentum
  • Analysts predicting increased sales and earnings
  • A positive investor sentiment with a large following

Please do your own due diligence to see if the stock deserves a place in your portfolio. The stock trades around 61, and the 50 day moving average is slightly below 55.

This is report from United States Steel Corporation but it is pointing out how this area is very hot in 2010.

With Cr price going up and up together with Ni prices our Value can only be double or in triple range from this point, we have the Winner here, great deposit waiting for somebody to come and make an offer. Buy on dips like John says, this area is very hot this year and right moment to publish Ni 43-101 report .

Good luck to all SPQ shareholders!

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