My (SID) call is still stands so laugh all you want
I made a call months ago that SID will go back to $50 before the year is up. So that's closing bell December 31st or earlier.
Now that SID has bottomed and we are experiencing a mega rally this morning.... And Home Sales for New and Used Homes are up while prices keep falling and motivating buyers to scoop up some more homes....
I mean.. If people are buying homes... then this isn't a recession...not as bad of one as naysayers have shorted the whole stock market to make us believe. Furthermore, if people are buying homes then companies are buying STEEL!
So.... STEEL yourself for a complete turn-a-round on the steel sector with (SID) percentage wise leading the way to the top of the mountain.
Don't overlook the fact that (X) U.S. Steel just posted a record breaking 3rd Quarter earnings report.
This is absolutely phenomenal. How in the world can investors on Motley Fool make fun of me? How can they do so? When Steel Companies are not only profitable still they are breaking records quarter after quarter.
SID broke an earnings record Q2 and who says they won't do it Q3 and Q4? Let the Hedge Funds be damned here guys and gals.... (SID) is absolutely VALID at a TRUE VALUE of a Stick Price of $50 a share. It's a diversified steel company in Brazil that is essentially Brazil's lifeblood of the economy outside of Petrobras and (RIO) and Gerdau (GGB).
SID at $50 twice in the same here? Can it really happen? I bet it can and I stand by my bet!