Arcelor Mittal and steel sector top | stockbee


Arcelor Mittal and steel sector top

A signal for top in Arcelor Mittal and steel sector. Sector has been in uptrend for 4 years. So a top seems the most likely next move. What better indicator do you need.

My friend Walter will finally get his counter trend move he has been looking for.


walter said...

Pradeep - thanks for the link!

Much appreciated!


Tom said...

A top in steel? Perhaps, but I think we have some more room to run in Steel. Maybe 2-3 more quarters. Industry consolidation will continue, which will push stock prices up (look at Posco as an example). Also, the industry has increasing pricing power, meaning larger profits to steel makers as they pass along higher nickel prices to customers. But if the global economy comes to a griding halt (say 2008), then all bets are off as demand for steel will fall. Keep your eye on the SLX.