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LessIsMore

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Re: NCMadman post# 550

Tuesday, 03/19/2019 2:35:51 PM

Tuesday, March 19, 2019 2:35:51 PM

Post# of 743
Today's price action is directly related to the lowering of steelmakers 2019 estimates by JPMorgan.

JPMorgan cuts steel estimates on 'steeper than expected' price decline JPMorgan analyst Michael Gambardella lowered his 2019 estimates for AK Steel (AKS), Nucor (NUE), Steel Dynamics (STLD) and U.S. Steel (X) to reflect the "steeper than expected" price decline for steel sheet prices in Q4 of 2018 and the lagged impact on Q1 of 2019. However, the analyst believes prices have bottomed and he sees improving steel prices going into Q2.

In February I highlighted the reasons for the anticipated share price decline, I do expect a rebound in the 2nd half of 2019 and will continue to build a position starting in April or May.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146676561

GLTY
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