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J.P. Morgan downgrades (I, II, III, IV) AK Steel (AKS -5.8%), U.S. Steel (X -4.4%), Reliance...

J.P. Morgan downgrades (I, II, III, IV) AK Steel (AKS -5.8%), U.S. Steel (X -4.4%), Reliance Steel (RS -3.4%) and Metals USA (MUSA -5%), saying it doesn’t think steel fundamentals will support a continued move higher beyond recent short covering after China’s infrastructure spending news and the latest QE round in the U.S., and that it expects steel prices to decline soon. Also cut: CLF -4.8%.
Comments (2)
  • Investors in the steel market who didn't know this before reading this article dont deserve to be in the market. This was absolutley clear if you were paying attention. But there is a difference between trading and investing. Bernanke has set up the market to be a trading mechanism for a very long time, or until he is removed from his position by Pres. Romney.
    17 Sep 2012, 09:56 AM Reply Like
  • I wish it would be so, but I'm afraid that Barry is ours for four more.
    17 Sep 2012, 10:28 AM Reply Like
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