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

To: RockyBalboa who wrote (4436)	10/16/2008 3:05:01 PM
From: Bill Wexler	Respond to of 6370

Agreed on steel. KBR a big thumbs up as well...

To: RockyBalboa who wrote (4436)	10/22/2008 10:12:55 AM
From: RockyBalboa	Respond to of 6370

Now, Back to square one everywhere. I lost my MT short in the process... Here is whst Goldmen Sachs has to say:... NEW YORK (AP) -- Shares of United States Steel Corp. slid in premarket trading Wednesday after an analyst downgraded the stock on the company's fixed cost structure, sensitivity to steel prices, deteriorating European and U.S. markets and the likelihood the prices of some steel products will decline. Goldman Sachs analyst Sal Tharani said he expects prices for steel pipes used in drilling for crude oil and natural gas wells to fall. As a result, he cut his price target on the Pittsburgh-based company's shares to $42 from $56, downgraded them to "Sell" from "Neutral" and added the stock to his "Americas Conviction Sell" list. Besides lower prices for the so-called "oil country tubular goods," Tharani expects iron ore prices to fall next year, putting the company at a disadvantage due to its ownership of iron ore assets in the U.S.