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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (798)	7/26/1999 11:29:00 PM
From: Sergio H	Read Replies (4) \| Respond to of 1316

DD, the move to the cyclicals is already history. Is it a substained move is the question. Steel prices looked better in winter and early spring than they do now. There was good reason for optimism. At that time, there was optimism about a recovery in Asia and Brazil combined with a slowdown in domestic steel production. The turnaround in Asia and Brazil has not been a reality. There is plenty of steel available from foreign manufacturers because there is not enough demand in their respective countries. Tomorrow's newspapers will feature statistics on how many of our state's are carrying record surpluses. There are many infrastucture projects in those surpluses that will put a dent in the oversupply of steel brought on by the lack of recovery in the rest of the world. The surviving US steel companies will reap a good profit in the coming years. Sergio