Steel Dynamics, Inc. (STLD)

TMFSinchiruna (98.51) Submitted: 11/18/2008 5:21:17 PM : Start Price: $19.84 STLD Score: -13.55

My timing in throwing support behind several of the steelmakers back in mid-September is now looking like an unfortunate choice. What looked then like severely overblown concern for slowing demand from Asia quickly came into view during October as a legitimate concern for the near-term. That being said, I still think the group will find some strength on the medium term once the dollar rally ceases to enjoy this irrational rally and demand from China picks back up a bit on the heels of their economic stimulus program. For Steel Dynamics, I await a fundamental recovery in prices for scrap metal, which will make all the difference for them. For now, I am not giving up on my painful green thumb.