David White: People should understand that the GDP revision down this morning means analysts will need to lower EPS estimate for industrial metals co.'s.
David White: Fitch put steel makers on ratings watch. X is the most overpriced based on FY2010 EPS estimates (3-4 fold more). X has biggest downside risk
David White: Many think stocks are fully priced even at FY2010 estimates levels. No place to go but down until EPS and rev. reports, and new estimates.