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you may have some luck there, the market as a whole is crumbling for sure.
Does anyone know if the IQD went international or not on the 15th? There was an article about the WMF and something. I'll have to go look again.
I'd not short this one yet, she's beaten earnings repeatedly and turned profitable.
Good morning, TMA at .20??? bouncer?
i'm in a little higher than that, getting butchered
There is projected growth in china, however if they are producing enough steel to force export that's a bad thing right now in regard to the rest of the world.
It doesn't take an economics major to look around and realize we've hit a wall and it's hurting now. The construction industry has collapsed, the auto industry is in disarray, nobody can afford to buy new appliances. So who has a use for their export steel?
All that said, it doesn't necessarily mean doom and gloom for AYSI, maybe just maybe they have a product that will beat out the standard wear plate. It can also be that they have a more economical product. We just need to be open minded. We'll see.
But beings as this is lumped with the steel sector, it may get sold off along with the rest if the weather turns bad.
Me personally, i think a slow and gradual increase in purchasing power with the Dinar is developing. I still believe that appreciation long term can be a reality so long as peace exist and industry puts folks to work over there.
lol, take the tinfoil off.
lol, ok, if its not talk initiated by a group of dealers it's at least bad reporting.
China is looking to export steel.... the rest of the world is choking which eventually is going to strangle china as well.
I have the answer to that! They have ore stockpiled already. I'll post something for you.
this is from our Steel market update from today.......
Some Comments on China
One of my sources very close to the China steel market recently made the following statements to me.
The Chinese government was supposed to have axed the BORON export rebate tax on the 1st of September. This did not happen. When it will happen - or, if it will happen are still open questions. The result is the Chinese mills are offering commodities with two prices - one for HR and other non-flat rolled products with Boron at a slightly lower price than one products without Boron additives.
I asked if the Chinese government would intervene and put in taxes or other de-incentives to prevent the Chinese mills from making so many offers to the U.S. and other markets. The response was with all of the additional steel making capacity coming online in China they will have no choice but to export no matter what the government does.
I also wanted to know what was being discussed in China regarding the VALE iron ore mid-contract price increase. The response was it will be difficult for VALE to get the increase has the iron ore spot market price in China is now "cheap", pig iron prices are dropping and the Chinese ports of full of iron ore.
What's the point in appreciation of the Dinar that the CBI is working for if they are going to "Lop" and revalue.
IMO, you can't lop a currency without a revaluation of it anyway. Simple loping of zeros doesn't make it worth more. If the bread merchant closes shop today with bread selling at 1000 dinars, he's not going to open tommorrow and sell it for 1 dinar.
An economy is a complex thing. You don't just trifle with it by making up new currency figures.
I don't see any magical RV. That is unrealestic IMO. How can a whole nation go to bed one night with a loaf of bread costing 1000 Dinars or whatever to wake up in the morning and find that the whole nation is full of millionaires in US currency. If that happens, the money still couldn't be worth squat.
If everyone has a million bucks then their economic situation never changed from the day before.
I think the lop talk is perpetrated by dealers looking to scare folks into selling their dinar so that they may resupply as ultra cheap rates.
LOL, my head isn't in the sand. I see appreciation occuring, not a total reissue of currency.
So, is this appreciation news, or more "lopster" BS.
Good morning AA and HOP
lol, i'm good with it if you are...... let's have er bounce please
Z, check this out.
http://blogs.moneycentral.msn.com/topstocks/archive/2008/09/11/the-death-of-opec.aspx
The death of OPEC
Posted Sep 11 2008, 07:01 AM by Douglas McIntyre Rating: Saudi Arabia walked out on OPEC yesterday. It said it would not honor the cartel's production cut. It was tired of rants from Hugo Chavez of Venezuela and the well-dressed oil minister from Iran.
As the world's largest crude exporter, the kingdom in the desert took its ball and went home.
As the Saudis left the building the message was shockingly clear. According to The New York Times, “Saudi Arabia will meet the market’s demand,” a senior OPEC delegate said. “We will see what the market requires and we will not leave a customer without oil."
OPEC will still have lavish meetings and a nifty headquarters in Vienna, Austria, but the Saudis have made certain the the organization has lost its teeth. Even though the cartel argued that the sudden drop in crude as due to "over-supply", OPEC's most powerful member knows that the drop may only be temporary. Cold weather later this year could put pressure on prices. So could a decision by Russia that it wants to "punish" the US and EU for a time. That political battle is only at its beginning.
The downward pressure on oil got a second hand. Brazil has confirmed another huge oil deposit to add to one it discovered off-shore earlier this year. The first field uncovered by Petrobras has the promise of being one of the largest in the world. That breadth of that deposit has now expanded.
OPEC needs that Saudis to have any credibility in terms of pricing, supply, and the ongoing success of its bully pulpit. By failing to keep its most critical member it forfeits its leverage.
OPEC has made no announcement to the effect that it is dissolving, but the process is already over
Top Stocks blogger Douglas A. McIntyre is an editor at 24/7 Wall St.
how wrong you are Gil, the mining industry is killing us all in the steel side.
good morning, what a non pleasure day... sheesh.
In FNM at .8
FRE .75 wow
They recently said they would not seek another extension with the FDA over one of their products, i think it's the reason the price got cut by 90%. But, considering the economy it's likely a smart move on the company part. Money is super tight and who is going to buy a product that "should" work better when you can buy ole trusty at half the cost.
Go to EU where the money is.
Chris, more subscribers will drop as the economy tightens. Internet and terrestrial radio are free....... if they can't pay, no sat radio for them.
I'm actually thinking on averaging down at this point. My buy was small, so going a little more wouldn't really hurt. Any upswing at this point makes me green or near even if i double up.
yes, SIRI is in bad shape. Heck, even i didn't buy that one. LOL
i hope it continues, i bought way to early LOL
good morning.
yessir, i'm sore lol.
lol, me too. I was wondering about dropping or averaging.... just not sure.
NEXM - selling pressure seems to keep mounting, i see vantillian on the board over there, perhaps it's about to run under some sort of promotion???
what's the long term outlook on UNG? Should get back up there shouldn't it??
The last 2 days have been pain days LOL
i hope so.
Z, are you playing with your sticks again today?? lol
Good Morning HOP!
The US has great margins for steel, they will be profitable. The issue is the tonnage, nobody is doing anything.
Z, get off this board....... your bringing down the whole US market! LOL
Tina, catch him and we'll tie him up in the house of pleasure and get the markets green again.
LOL, but when north america sneezes the rest of the world coughs. We have much more in common than you think. All that stuff made overseas finds its way into the north american and european markets, both of which are trashed right now. The things they are making are too expensive for them to want to purchase yet, so who are they going to sell them to??? It doesn't take an economic major to see how the puzzle fits together.
If we are going to have a trading world nobody can stop, if one party stumbles then everyone comes crashing to the floor.
If you don't believe me, then why are the overseas stock markets suffering absolute crushing blows compared to what we are feeling. We're doing good........ or so we think.