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Monday, December 21, 2009

Goldman touts X


Remember when X wasn't on Goldman's Conviction Buy list?

Somehow Goldman couldn't couldn't divine the bullish thesis. But they do now!

At the end of November Goldman upgraded the steel sector, six weeks after China was lying on steel deman; but at least Goldman is behind X now.

So if you think the steel story doesn't have legs, go ahead an dshort it, and get run over by the folks chasing momentum.

Because even Wall Street now sees that pricing is increasing for steel, inventories are low, Obama stimulus money is in the pipe, and China ain't rolling over.

And while you're at it, you'll have to contend with reports like this.

I gotta like it. They even sound like a tout!!---"Steel prices on a tear!!"

GoldmantoutsX                                                                                                                                                       

6 comments :

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Anonymous said...

Hey Palmoni,

The 18th has passed and I am wondering if you know the merger has closed? I figured the company is taking their time in reporting these things :P

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