Bob Pisani from CNBC getting really negative on steel stocks, maybe its time to buy..

[retaildaytrader]

You gotta love good ole Bob. Bob gets excited jumping up and down like a girl at market tops, but then there is the opposite effect where Bob throws in the towel on a sector and then that marks the bottom.

Lets see if Bob's emotions are in the right place with a sampling of different steel stocks:

10/26
X- 40.55
AKS- 12.81
MTL 23.25
SCHN 51.61
RS 41.03
PKX 107.60
SLX 63.51

Come back to this thread in two weeks and lets see where these stocks are. This thread isnt about the fundamentals of steel stocks or the technical analysis of a chart, but if we can get an "edge" based on Bob Pisani's extreme emotions.

 

[r-in]

Actually a great idea for a thread. I'd say I'd do it but know better. Track the CNBC gurus picks over time. A week, month, year, including how often they change the pick(ie Cramer) and pretend they didn't say otherwise. CNBC would do a great service doing this themselves, and letting the gurus know this is the way it is going to be, take it or get off the air.

 

[psytrade]

I own a steel service business and have a significant background in steel.

That loser James Altucher on here as Vishnu CNBC / stockpickr came on here in April pumping up steel stocks with Us Steel near 70. I posted that US steel would be down $15 after earnings, and it was. Where is he now?

It's definitely NOT the time to buy steel stocks.

 

[shortie]

isn't Bob just reading the script?

 

[shortie]

i know that Bob is not gonna get any credit here for his great call: X down 1.5% intraday

 

[clacy]

Interesting timing. I just bought SLX because it is down 2%. I trade long term and will average in if it goes down from here. It's very tough to find assets to buy right now. Most asset classes are significantly up from their lows, but also still down from their highs.

 

[Scataphagos]

Quote from psytrade:

I own a steel service business and have a significant background in steel.

That loser James Altucher on here as Vishnu CNBC / stockpickr came on here in April pumping up steel stocks with Us Steel near 70. I posted that US steel would be down $15 after earnings, and it was. Where is he now?

It's definitely NOT the time to buy steel stocks.

Why negative on steels?

 

[GuyFawkes]

Bob Pisani is a half witted clown.
Possibly the most annoying of the lot on the Satan's little helper's channel at the moment.
Morally this channel is on the same ground as Nazi prison guards.

 

[tradingjournals]

Bob is right. Commodity countries best days are behind. Back to the US 90s.

 

[tradingjournals]

Quote from clacy:

Interesting timing. I just bought SLX because it is down 2%. I trade long term and will average in if it goes down from here. It's very tough to find assets to buy right now. Most asset classes are significantly up from their lows, but also still down from their highs.

not true for tech.