Opinions

Craig MacAdam Gerdau Ameristeel Corp GNA-T WAIT Nov 02, 2009

One of the few plays left to play pure steel stocks in North America. Global player. Would be cautious on steel companies today because of the significant ramp up of production in China while prices have been pretty well flat. Demand could be down because of economies. Earnings coming out on Nov 5.

Craig MacAdam

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$7.450

Stock price when the opinion was issued

steel

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TOP PICK

Steel. Has started a new major up leg having made a congestive area and the stock is on the break up. Above the 200 day moving average. Fantastic stock.

TOP PICK

A stimulus play. You can get a lot of alpha out of this play if there continues to be a lot of stimulus money going into the economy. Try to get it below $8.

DON'T BUY

Recent quarter was okay but is a little concerned about the space. Import battles are starting between countries. Utilization rates for steel mills in the US are well below what is appropriate for making good money. A lot of hype about infrastructure spending but state and local spending are going down.

COMMENT

Prefers the mini-mills to the large integrated steel producers. You don't get nailed as much by the increase in iron ore costs.

PAST TOP PICK

(Top Pick Sep 18/09, Down 14.7%) He got stopped out around $8.50.

COMMENT

Structural steel and construction industry in North America has been in a downturn over the last couple of years. There are some early signs that we may have hit the bottom. If you're horizon is 12-24 months, you can buy, otherwise he would wait.

PAST TOP PICK

(A Top Pick Oct 2/09. Down 8.4%.) A higher torque name, which puts a little spice in your portfolio and is part of the infrastructure story. Still a Buy.

PAST TOP PICK

(A Top Pick Sept 18/09. Up 30%.) Another company acquired this.

PAST TOP PICK

(Top Pick Oct 2/09, Up 40%) It hit his 25% target and he exited.

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Craig MacAdam Gerdau Ameristeel Corp GNA-T WAIT Nov 02, 2009

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