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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (4431)	10/16/2008 11:41:02 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 6370

Now I also bought some shares today, some are pretty obvious, like: >>>>>>>>>>> United States Steel (X): Tontine Partners owns 3,051,409 shares of United States Steel. U.S. Steel produces just under 30 million tons of steel and steel products each year. The company is vertically integrated, owning its own iron ore mill in the U.S., which gives it a substantial cost advantage over other domestic and international producers. U.S. Steel is trading at $45, down from its $190 peak two months ago. Gendell thinks U.S. Steel can earn $18 per share in 2008; that would mean U.S. Steel is trading for 2.5 times earnings. <<<<<<<<<<<< At todays discounted prices, of 37´to 39 this makes the stock even cheaper... While I think X will earn nowhere near 18, thanks to altered exchange rate dynamics it is still ridiculously cheap. I believe many have simply traded against the fund, until it spits blood. Which is. So far, I am staying away from agriculturals, like MOS, MON etc, as a bottom in AGs is not visible yet. Despite some tries, they continue to trend lower. Expect that some high octane Commodities funds spit blood soon...