Jim Letourneau's Blog

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Stelco Steel Soundly Springs

Stelco made a powerful move this morning. The steel sector is very strong right now and people are beginning to believe that Stelco might survive as a going concern.

The chart below shows Stelco's prompt plummet from $2.50 to $.050 earlier this year. Stelco was unable to engineer a quick turnaround and speculators were crushed. The fundamentals of the steel industry are strong and it looks like there is some serious money convinced of Stelco's survival. However, the restructuring process is fraught with peril - it is no accident that the stock price is extremely volatile. In spite of the strong sounding Stelco name, this stock could still turn out sickly.

Stelco  Posted by Hello

Not Advice

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I do not currently own Stelco (STE/A.TO)