Could be, but as a guy that trades/brokers products around that industry, I wouldn’t touch that stock right now. I track coal and iron ore shipments that go into integrated steel markets (like USS). Lots of order cancellations in the last 2 months. That’s never encouraging news. FYI
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I think all the negative news is somewhat overblown but I understand so many cancellations and changes with all the tariffs and trade wars.
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I've got a JD 1020 for sale. 1973 model .
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All I can tell you is that cancellations of large volume raw material purchases are never a good indicator.
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It's a bubble guys. Run! Get out at the top. Buy gold and wait for the crash.
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I do like a good sarcastic post.
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Just made a small hedge against this market, buying 100 shares of SDOW.
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Prob a good buy. That price is at its historical low, right?
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Anyone playing around with the steel market would probably be better off buying actual scrap iron. They're basically giving it away in some areas. Better yet, it'd be a really good time to buy a full yard from someone that is ready to retire.
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I broker scrap monthly. My July purchases are projected to be down $90/GT from where I purchased in May
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Well? Did you?
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Yes, since it's an inverse fund and the DJIA is at an all-time high.
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Buy, buy, buy.....

I don't know that the market is gonna tank, but a correction is certainly in order.
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Just a short term trade looking for a small correction and some profit in a downturn. Nothing crazy am I am going to hold waiting for a big crash. Small profit in a correction, move to cash, buy something undervalued on a dip and repeat if necessary.
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I couldn't believe how low the offer was in some areas of the country.

Not that I want to collect scrap for a living, but if a guy had the right place to hold it for awhile it could work out well. My piles all have trees growing in them. :-)
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