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Trader Mark,
Jul 23 20:59 pm
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All Comments by CrossProfit_ »Mechel: Waiting Til the Smoke Clears [View article]
Well done!
We have a saying...'never regret a profit'. Agree with your logic as we will have to see if MTL breaks 30 over the next couple of weeks.
Long term, MTL is still a double even at 37.50 though this may take a lot longer than 12 months.
See seekingalpha.com/artic...
As mentioned in article, we will have to wait until steel prices move up, then it will be time to re-enter MTL again as they will be able to raise prices closer to market for local customers.
Just food for thought.
CrossProfit
P.S. See our latest comment on CLF here:
seekingalpha.com/artic...
Also take a look at the CrossProfit BTU 2008 chart and how we seem to agree on this one as well.