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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.



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Monday, November 03, 2014

NUGT ETF Down 44% in 3 Days Since I Predicted its Downfall

The drop in the shares of the Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) had already been precipitous since August, but 3 trading days ago I said buying it (even here) could be akin to catching a falling knife. The Direxion Daily Gold Miners Bull 3X ETF (NYSE: NUGT) was down 61% since August 12, on a somewhat steady drop to the close of $19.35 for the levered ETF the day before I published. But I presciently wrote that it would fall further. In the 3 days since, it collapsed 44%. I said that based on my outlook for gold, buying it now could be akin to catching a falling knife. In my also prescient and profitable report, Gold Breakdown, I estimated the SPDR Gold Trust (NYSE: GLD) and gold prices could slip 11% or more to a target of $105 to $95. See my report on the NUGT ETF here.

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Wednesday, April 11, 2012

You Better Check Yourself Post Alcoa

enthusiasmAlcoa (NYSE: AA) started off the earnings season for the Dow Jones Industrials in a surprisingly positive manner. Analysts were generally looking for revenues of $5.77 billion at the mean, and Alcoa reported $6.0 billion. It represented 1% top line growth against the prior year and fractional growth over the fourth quarter, which was impressive given a 9% drop in realized aluminum prices year-to-year. The stock was up 5.4% after hours Tuesday as a result, and the Industrial Select Sector SPDR (NYSE: XLI) was plus 0.7% post the close. Operational expectations were at the opposite end of the spectrum, as evidenced by Alcoa’s 2.9% decline Tuesday, before reporting its results, and by the XLI’s 2% fall.

KaminisOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Temper Enthusiasm Post Alcoa



Before we get too excited about the quarterly result, though, I think we would be wise to consider the creep of global economic deterioration as the quarter progressed. While economic recession remains suspect, proclaiming all’s well on Alcoa’s news may likewise be premature. Indeed, I think it is. And even if it weren’t, Iran is about to happen, but that is supposedly not forecastable according to Wall Street. Yet, Iran just imposed “counter sanctions”, cutting off petroleum exports to starving Spain and Greece, and threatened to cut off Italy and Germany before the west’s own sanctions take effect in early July. It’s clear, at least to me, that the situation is finally coming to a head, with a powder keg now tightly squeezed between American warships and the Iranian coastline, just waiting for its spark.

Alcoa’s earnings per share also exceeded expectations, with income from continuing operations reaching $0.10 a share, against analysts’ consensus expectations for a loss of $0.04, based on Yahoo Finance’s tally. Still, you’ll find those looking to extract from Alcoa’s results pointing more to revenues than earnings, as they better reflect industry fundamentals. As we move down the income statement to the bottom line, Alcoa’s results increasingly reflect its gained efficiencies of operation.

Some would inspect Alcoa’s market segment revenues against the prior year, but the prior quarter comparison should better reflect the changes in economic health we are beginning to see, barring seasonal influences. In that regard, Alcoa saw industrial product growth of 14%, 13% increased demand from automotive, 11% more from packaging, with commercial transportation revenues up 11%. Alcoa and other materials players certainly have global development going for them as an offset against regional cyclical swings.

I would have to manufacture a negative interpretation of these numbers, as they were impressive and surely the reason for the stock’s rise after hours. But how well do they capture what could be developing in manufacturing, as seen in recent data review. How well do they reflect apparent European recession contagion into our market? How well do they reflect consumer concerns and the timid employment situation? How well do they measure the nascent stumble in housing? I say not well, and so I warn investors and econo-watchers to temper their enthusiasm today.

The shares of major industrials and the broader market look to break their slide Wednesday, and it is welcomed here but not expected to hold long based on my economic observations. Caterpillar (NYSE: CAT), Deere & Co. (NYSE: DE), General Electric (NYSE: GE), General Motors (NYSE: GM) and the SPDR Dow Jones Industrial Average (NYSE: DIA) are all looking higher by a point or more Wednesday morning. It may serve as a blessing for some with a nose to the change I smell, a chance to take capital back.

This article should interest investors in Boeing (NYSE: BA), Raytheon (NYSE: RTN), Digital Globe (NYSE: DGI), GenCorp (NYSE: GY), General Dynamics (NYSE: GD), Goodrich (NYSE: GR), Northrop Grumman (NYSE: NOC), Honeywell (NYSE: HON), Lockheed Martin (NYSE: LMT), Rockwell Collins (NYSE: COL), L-3 Communications (NYSE: LLL), EMBRAER (NYSE: ERJ), FLIR Systems (Nasdaq: FLIR), BE Aerospace (Nasdaq: BEAV), TransDigm (NYSE: TDG), Spirit Aerosystems (NYSE: SPR), CAE (NYSE: CAE), Alliant Techsystems (NYSE: ATK), Hexcel (NYSE: HXL), Triumph Group (NYSE: TGI), Esterline Technologies (NYSE: ESL), Moog (NYSE: MOG-A), Heico (NYSE: HEI), Teledyne (NYSE: TDY), Curtiss-Wright (NYSE: CW), Cavco (Nasdaq: CVCO), Skyline (NYSE: SKY), Nobility Homes (Nasdaq: NOBH), Palm Harbor Homes (Nasdaq: PHHM), Mohawk Industries (NYSE: MHK), Interface (Nasdaq: IFSIA), Albany International (NYSE: AIN), Unifi (NYSE: UFI), Illinois Tool Works (NYSE: ITW), Tyco International (NYSE: TYC), Cummins (NYSE: CMI), Kubota (NYSE: KUB), Ingersoll-Rand (NYSE: IR), Dover (NYSE: DOV), ITT Corp. (NYSE: ITT), Flowserve (NYSE: FLS), Pall (NYSE: PLL), Dresser-Rand (NYSE: DRC), SPX (NYSE: SPW), Gardner Denver (NYSE: GDI), IDEX (NYSE: IEX), Nordson (Nasdaq: NDSN), Graco (NYSE: GGG), Actuant (NYSE: ATU), Middleby (Nasdaq: MIDD), ABB (NYSE: ABB), Eaton (NYSE: ETN), Nidec (NYSE: NJ), Rockwell Automation (NYSE: ROK), Ametek (NYSE: AME), Regal Beloit (NYSE: RBC), Thomas & Betts (NYSE: TMB), Woodward Governor (Nasdaq: WGOV), Caterpillar (NYSE: CAT), Deere (NYSE: DE), CNH (NYSE: CNH), Joy Global (Nasdaq: JOYG), Bucyrus (Nasdaq: BUCY), Agco (Nasdaq: AGCO), Emerson Electric (NYSE: EMR), Parker Hannifin (NYSE: PH), Roper Industries (NYSE: ROP), Pentair (NYSE: PNR), Waste Management (NYSE: WM), Republic Services (NYSE: RSG), Fastenal (Nasdaq: FAST), Vulcan Materials (NYSE: VMC), MDU Resources (NYSE: MDU), Martin Marietta Materials (NYSE: MLM), Owens Corning (NYSE: OC), Valspar (NYSE: VAL), Precision Castparts (NYSE: PCP), United States Steel (NYSE: X), Reliance Steel (NYSE: RS), CRH (NYSE: CRH), CEMEX (NYSE: CX), Eagle Materials (NYSE: EXP), Fluor (NYSE: FLR), McDermott International (NYSE: MDR), Foster Wheeler (Nasdaq: FWLT), Empresas ICA (NYSE: ICA), Stanley Black & Decker (NYSE: SWK), Timken (NYSE: TKR), Kennametal (NYSE: KMT), Leucadia National (NYSE: LUK), Masco (NYSE: MAS), Weyerhaeuser (NYSE: WY), Quanta Services (NYSE: PWR), Chicago Bridge & Iron (NYSE: CBI), EMCOR (NYSE: EME), Snap-on (NYSE: SNA), Toro (NYSE: TTC), GM (NYSE: GM) and Ford (NYSE: F).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Wednesday, January 04, 2012

Mosaic Earnings Should Prove Interesting

Mosaic Corp.Mosaic (NYSE: MOS) will report earnings after the close of trading Wednesday, and the report portends to be interesting. Furthermore, the forward outlook is likely to be confused by a confluence of market factors contending against one another and the company.

agriculture analystOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Mosaic Study



When Mosaic reports its results at the close Wednesday, both its quarterly results and forward outlook may confound investors. The stock already took a hit on its announcement that it would cut its output by as much as 250,000 metric tons through the first quarter of 2012. That decline capped off a poor showing for 2011, with MOS shares handing shareholders a 34% loss in value, after adjustment for dividends. However, since the warning, the shares have recovered, closing Tuesday 4.3% higher. So it would appear that capital allocation and technical factors would like to support the shares if the fundamentals will hold up.

Mosaic President and CEO, Jim Prokopanko, stated within the company’s announcement that "Isolated phosphate market spot prices have become disconnected with the underlying agricultural fundamentals. As dealers and distributors focus on the macroeconomic uncertainty and delay purchases for the North American Spring Season, near term supply of phosphate barges on the Mississippi River has exceeded near-term demand. The current spot prices in this market do not reflect our outlook for the business, nor do we think they are sustainable. In response, we have decided to cut planned production by 250,000 tonnes over the next three months."

My concern is that the production cut was driven by pricing that has been short of the company’s forecasts. It’s clear to me that Mosaic has offered investors insight into the quarter it will report on Wednesday evening and/or the guidance it will provide for the forward quarter. If pricing has been short of forecasts, then Mosaic’s profit margins should also fall short and its earnings might miss the analysts’ consensus view as well. However, Mosaic did not offer new earnings guidance alongside this production warning, stating that its results would fall within its guidance range. That said, there remains risk the company might miss Wall Street’s expectation, unless they have been adjusted.

Company’s management seems to me to be engaged in a dangerous game, splitting hairs on a timeline, managing economic value it expects to create no matter, just at a later date. But in a competitive environment, this may be a game best not played. That issue is debatable, given the price parallel movement in the shares of Potash Corp. of Saskatchewan (NYSE: POT) around the Mosaic announcement. It seems the Mosaic team expects to garner the same sales it expected before announcing the production cut, but at prices it sees worthy.

It’s my view that the uncertainty introduced into the equation is not supportive of near-term stock price revival, though if management does come through and preserve and create economic value as it plans, it would later benefit. As a result of the uncertainty increase, and the technical and capital allocation factors that seem in opposition of the fundamental question, I would not enter into a new position heading into this earnings report despite my general favor of the agriculture sector.

This article should interest investors in agricultural plays Mosaic (NYSE: MOS), Monsanto (NYSE: MON), Potash Corp. of Saskatchewan (NYSE: POT), Intrepid Potash Inc. (NYSE: IPI), Deere (NYSE: DE), Caterpillar (NYSE: CAT) and others.

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Monday, August 22, 2011

Gold in Bubble Mania Mode

gold bubbleIt seems it was only just yesterday that I could buy a can of coke for two bits and an ounce of gold for $250. Can you imagine that? A sign of the times, gold quickly dusted more than that much value off on its way to a greater than 30% rise to date in 2011. After boldly taking 6.4% last week alone (14% this month through Friday), I think it’s safe to say that gold is officially in bubble mania mode, but I also believe it has the thrust to surpass $2000 an ounce at least before an eventual horrific gold bubble burst at some future date.

precious metals analystOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative tickers include: NYSE: GG, NYSE: AEM, AMEX: ANV, NYSE: AU, NYSE: AUQ, AMEX: AZK, NYSE: ABX, AMEX: BRD, Nasdaq: CTHR, AMEX: CGR, OTC: CGCO.PK, NYSE: BVN, Nasdaq: DROOY, NYSE: EGO, AMEX: EGI, AMEX: XRA, NYSE: GFI, AMEX: GRZ, Nasdaq: GORO, OTC: MYNG.PK, AMEX: GSS, AMEX: GBG, NYSE: HMY, NYSE: IAG, AMEX: THM, NYSE: JAG, AMEX: KGN, AMEX: KBX, Nasdaq: KGJI, NYSE: KGC, AMEX: MDW, AMEX: MGH, AMEX: NSU, OTC: NJMC.PK, NYSE: NEM, OTC: NBRI.OB, AMEX: NXG, AMEX: NG, AMEX: RIC, Nasdaq: RGLD, AMEX: RBY, AMEX: SA, AMEX: XPL, AMEX: TRE, OTC: THMG.OB, NYSE: UXG, AMEX: VGZ, OTC: WITM.PK, NYSE: AUY, NYSE: CDE, NYSE: EXK, NYSE: HL, AMEX: MVG, AMEX: MGN, Nasdaq: SSRI, NYSE: SLW, NYSEArca: GLD, NYSEArca: GDX, NYSEArca: SLV, NYSEArca: AGQ, NYSEArca: ZSL, AMEX: GPL, NYSE: SVM, AMEX: PZG, Nasdaq: PAAS, NYSE: AG.

Gold in Bubble Mania Mode



The rush to gold is not lucky happenstance, but the result of simple relative analysis. Man has naturally tended toward the usage of gold as currency. In years past, economic crises of all sorts have driven short spurts in gold demand and resulting price rise, but never to as high a point or for as long a span of time as now. Gold and a handful of other securities and assets have historically attracted capital in the so-called "flight to safety" trade. In times past, and in part today as well, the yen, dollar and U.S. treasuries have also attracted capital in desperate times.

What’s different today versus in years past is that there are mounting concerns about the developed world’s most important currencies, the dollar, yen, euro and pound. In fact, all fiat currency is in question within a scenario where the world’s most important consumption economies seem to face uniquely deep and difficult downturns. It is a situation where currencies have been diluted by unsustainable public debt loads, and the solvency of sovereign states never before questioned are now debatable. Once supremely confident G-8 leaders, are finding warnings (and worse) whaling down on them from the rating agencies like a storm of hellfire.

In a world where Japan’s footing seems unstable, within which the shadow of a new dark ages covers Europe, and the latest greatest empire, the United States, seems about to fall, the choices for safekeeping wealth are few. Markets are so befuddled about what to do, that the downgrade of American credit by Standard & Poor’s (NYSE: MHP) was followed by a rush into U.S. treasury securities on the global turmoil that developed. Demand for the doomed assets, should Moody’s (NYSE: MCO) follow S&P’s lead, has been so great that this week’s auction could allow the United States to borrow at a zero or negative interest rate. In other words, people don’t know where their money can be safely kept, and so are near willing to pay for its safekeeping.

Relative analysis of the “flight to safety” pool of investment options has investors seeing just a few, with the first being gold. In times of trouble, we return to what we trust in. As the gold bubble expands and concern about its bursting intensifies, though, I believe we’ll see more and more money flowing into alternatives like silver and the Swiss Franc, and then gold will lose some of its luster.

At the same time, what drives all bubbles is pumping this one up as well, greed, and greed is a powerful force. In Asia, and across the globe, people are seeing one asset, which is within their reach or around their neck, rising in value while everything else is threatened. This has everyone with the opportunity, from the Mainland Chinaman to the pompous president of Venezuela, trying to get their hands on more gold. There is, after all, only two Olympic sized swimming pools worth of gold currently available on open market. For this reason, I don’t see the bubble bursting just yet, but I would look for the silver bubble to start moving toward $50 alongside gold’s targeting of $2000. Look for more of our work on precious metals at our blog, Wall Street Greek.

Article should interest investors in precious metals stocks: Goldcorp (NYSE: GG), Agnico-Eagle Mines (NYSE: AEM), Allied Nevada Gold (AMEX: ANV), AngloGold Ashanti (NYSE: AU), AuRico Gold (NYSE: AUQ), Aurizon Mines (AMEX: AZK), Barrick Gold (NYSE: ABX), Brigus Gold (AMEX: BRD), Charles & Covard (Nasdaq: CTHR), Claude Resources (AMEX: CGR), Commerce Group (OTC: CGCO.PK), Compania Mina Buenaventura S.A. (NYSE: BVN), DRDGOLD (Nasdaq: DROOY), Eldorado Gold (NYSE: EGO), Entrée Gold (AMEX: EGI), Exeter Resource (AMEX: XRA), Gold Fields (NYSE: GFI), Gold Reserve (AMEX: GRZ), Gold Resource (Nasdaq: GORO), Golden Eagle Int’l (OTC: MYNG.PK), Golden Star Resources (AMEX: GSS), Great Basin Gold (AMEX: GBG), Harmony Gold (NYSE: HMY), IAMGOLD (NYSE: IAG), International Tower Hill Mines (AMEX: THM), Jaguar Mining (NYSE: JAG), Keegan Resources (AMEX: KGN), Kimber Resources (AMEX: KBX), Kingold Jewelry (Nasdaq: KGJI), Kinross Gold (NYSE: KGC), Midway Gold (AMEX: MDW), Minco Gold (AMEX: MGH), Nevsun Resources (AMEX: NSU), New Jersey Mining (OTC: NJMC.PK), Newmont Mining (NYSE: NEM), North Bay Resources (OTC: NBRI.OB), Northgate Minerals (AMEX: NXG), NovaGold Resources (AMEX: NG), Richmont Mines (AMEX: RIC), Royal Gold (Nasdaq: RGLD), Rubicon Minerals (AMEX: RBY), Seabridge Gold (AMEX: SA), Solitario Exploration and Royalty (AMEX: XPL), Tanzanian Royalty Exploration (AMEX: TRE), Thunder Mountain Gold (OTC: THMG.OB), U.S. Gold (NYSE: UXG), Vista Gold (AMEX: VGZ), Wits Basin Precious Metals (OTC: WITM.PK), Yamana Gold (NYSE: AUY), Coeur d’Alene Mines (NYSE: CDE), Endeavour Silver (NYSE: EXK), Hecla Mining (NYSE: HL), Mag Silver (AMEX: MVG), Mines Management (AMEX: MGN), Silver Standard Resources (Nasdaq: SSRI), Silver Wheaton (NYSE: SLW), SPDR Gold Trust (NYSEArca: GLD), Market Vectors Gold Miners ETF (NYSEArca: GDX), iShares Silver Trust (NYSEArca: SLV), ProShares Ultra Silver (NYSEArca: AGQ), ProShares Ultra Short Silver (NYSEArca: ZSL), Great Panther Silver (AMEX: GPL), Silvercorp Metals (NYSE: SVM), Paramount Gold and Silver (AMEX: PZG), Pan American Silver (Nasdaq: PAAS) and First Majestic Silver (NYSE: AG).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Friday, July 29, 2011

Boeing and ArcelorMittal (NYSE: BA, NYSE: MT) – A Closer Look Post Data

boeing ba arcelormittal mt
We’re playing catch-up… Wednesday’s earnings review highlighted reports from Boeing, ArcelorMittal, Delta Airlines, WellPoint, General Dynamics, Northrop Grumman and P.F. Chang’s China Bistro. The report that follows highlights the news and outlook for Boeing and ArcelorMittal.

steel analystOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative tickers: Nasdaq: FUBC, NYSE: AHC, NYSE: ABD, Nasdaq: ACUR, Nasdaq: ACXM, Nasdaq: ADLR, NYSE: AEA, Nasdaq: AEGR, NYSE: AET, Nasdaq: AFFX, NYSE: AFL, Nasdaq: AKAM, NYSE: ALR, NYSE: ARE, NYSE: ATI, Nasdaq: AHGP, Nasdaq: ARLP, Nasdaq: EPAX, NYSE: DOX, Nasdaq: ARII, NYSE: APU, NYSE: AMP, Nasdaq: AMKR, NYSE: NLY, NYSE: MT, Nasdaq: AUDC, NYSE: AN, NYSE: AVB, NYSE: BMS, NYSE: BMC, NYSE: BA, Nasdaq: BOKF, NYSE: BYD, Nasdaq: BKBK, Nasdaq: BVSN, NYSE: COG, NYSE: CBG, Nasdaq: CHDN, Nasdaq: CTXS, NYSE: CLF, NYSE: CNO, Nasdaq: COHR, NYSE: COP, Nasdaq: CSGP, NYSE: CVD, Nasdaq: CROX, NYSE: CCI, NYSE: DAL, NYSE: DBD, NYSE: DOW, NYSE: DPS, NYSE: ENR, NYSE: EFX, NYSE: RE, Nasdaq: DAVE, Nasdaq: FLIC, NYSE: FLS, Nasdaq: FXCB, NYSE: GD, NYSE: GMR, Nasdaq: GLBC, Nasdaq: GMCR, NYSE: HGR, NYSE: HSP, Nasdaq: IBKC, NYSE: ISH, Nasdaq: LRCX, Nasdaq: LVLT, NYSE: LAD, NYSE: MRK, Nasdaq: MORN, NYSE: NMM, NYSE: NOC, NYSE: OII, NYSE: OI, Nasdaq: PFCB, NYSE: PX, NYSE: RA, Nasdaq: RNOW, NYSE: SFE, NYSE: SAP, NYSE: SEE, NYSE: SCI, Nasdaq: SFLY, Nasdaq: SRCL, NYSE: RGR, NYSE: SPN, NYSE: TER, Nasdaq: TEVA, Nasdaq: THQI, NYSE: TUP, Nasdaq: USMO, NYSE: V, NYSE: WLP, Nasdaq: WFM and NYSE: WYN.

Boeing and ArcelorMittal (NYSE: BA, NYSE: MT) – A Closer Look Post Data



Boeing
After a gap open Wednesday and a strong spike, the stock closed only fractionally higher. Boeing (NYSE: BA) shares were up more significantly through Friday midday trading though. Boeing reported better results than expected, enthusing and expanding its shareholder base. The company posted a turnaround in its commercial aircraft unit and also offered better guidance for its defense and aerospace business. But with higher fuel costs pressuring its commercial aircraft customers and tightening sovereign budgets pressuring its defense unit, we express caution. The stock is well off its May highs though and looks to have a solid technical support. Still, it’s the fundamental business I’m worried about moving forward. It’s most recent PEG ratio looks to be about 1.5, before adjustment for recent results, and is based on a long-term growth outlook of about 11.6%. Next year’s growth looks solid enough to support the stock, and given the company’s reinforcing guidance, the stock looks safe to hold over the short-term. However, I would not be adding to positions based on my concern that orders should slacken in a deteriorating global economic environment that seems probable in my macro view.

ArcelorMittal
The world’s largest steel maker now, ArcelorMittal (NYSE: MT) responded to investor concerns sparked by United States Steel (NYSE: X) and AK Steel (NYSE: AKS) Tuesday regarding current softness. MT said demand from China and U.S. automakers would pick-up the soft quarter so that the issue would not bear out into trend. Traditionally, automakers tend to close factories for a few weeks in the summer for maintenance work, and the Japanese shock also played a role in the temporary dip. As a result of the disaster though, new construction demand from Japan should support the steel market moving forward, especially for Japanese companies like Nippon Steel. Chinese consumption is seen increasing about 8.5% through 2011. Of course, ArcelorMittal and all the steelmakers are threatened by the debt debacle in the U.S. and further deterioration in Europe, and so I cannot be gung ho on steel nor MT today. The stock’s long-term chart also offers protection against short side risk though, and its valuation at a 0.5 PEG ratio is not particularly unappealing either. It’s the kind of cyclical idea that could take off on a good US debt deal that takes debt-downgrade risk off the table, but today the issue is still up in the air. The stock has been down all week and but is seeking stability today.

Others reporting earnings Wednesday: 1st United Bancorp (Nasdaq: FUBC), A.H. Belo (NYSE: AHC), Acco Brands (NYSE: ABD), Acura Pharmaceuticals (Nasdaq: ACUR), Acxiom (Nasdaq: ACXM), Adolor (Nasdaq: ADLR), Advance America Cash Advance (NYSE: AEA), Aegerion Pharmaceuticals (Nasdaq: AEGR), Aetna (NYSE: AET), Affymetrix (Nasdaq: AFFX), Aflac (NYSE: AFL), Akamai (Nasdaq: AKAM), Alere (NYSE: ALR), Alexandria Real Estate (NYSE: ARE), Allegheny Technologies (NYSE: ATI), Alliance Holdings (Nasdaq: AHGP), Alliance Resource Partners (Nasdaq: ARLP), Ambassadors Group (Nasdaq: EPAX), Amdocs (NYSE: DOX), American Railcar (Nasdaq: ARII), AmeriGas Partners (NYSE: APU), Ameriprise (NYSE: AMP), Amkor (Nasdaq: AMKR), Annaly Capital (NYSE: NLY), ArcelorMittal (NYSE: MT), Audiocodes (Nasdaq: AUDC), Autonation (NYSE: AN), AvalonBay Communities (NYSE: AVB), Bemis (NYSE: BMS), BMC Software (NYSE: BMC), Boeing (NYSE: BA), BOK Financial (Nasdaq: BOKF), Boyd Gaming (NYSE: BYD), Britton and Koontz Capital (Nasdaq: BKBK), BroadVision (Nasdaq: BVSN), Cabot Oil and Gas (NYSE: COG), CB Richard Ellis (NYSE: CBG), Churchill Downs (Nasdaq: CHDN), Citrix Systems (Nasdaq: CTXS), Cliffs Natural Resources (NYSE: CLF), CNO Financial (NYSE: CNO), Coherent (Nasdaq: COHR), ConocoPhillips (NYSE: COP), Costar Group (Nasdaq: CSGP), Covance (NYSE: CVD), Crocs (Nasdaq: CROX), Crown Castle Int’l (NYSE: CCI), Delta Airlines (NYSE: DAL), Diebold (NYSE: DBD), Dow Chemical (NYSE: DOW), Dr. Pepper Snapple (NYSE: DPS), Energizer (NYSE: ENR), Equifax (NYSE: EFX), Everest Re (NYSE: RE), Famous Dave’s (Nasdaq: DAVE), First of Long Island (Nasdaq: FLIC), Flowserve (NYSE: FLS), Fox Chase Bancorp (Nasdaq: FXCB), General Dynamics (NYSE: GD), General Maritime (NYSE: GMR), Global Crossing (Nasdaq: GLBC), Green Mountain Coffee (Nasdaq: GMCR), Hanger Orthopedic (NYSE: HGR), Hospira (NYSE: HSP), Iberiabank (Nasdaq: IBKC), International Shipholding (NYSE: ISH), Lam Research (Nasdaq: LRCX), Level 3 Communications (Nasdaq: LVLT), Lithia Motors (NYSE: LAD), Merck (NYSE: MRK), Morningstar (Nasdaq: MORN), Navios Maritime (NYSE: NMM), Northrop Grumman (NYSE: NOC), Oceaneering Int’l (NYSE: OII), Owens-Illinois (NYSE: OI), P.F. Chang’s China Bistro (Nasdaq: PFCB), Praxair (NYSE: PX), RailAmerica (NYSE: RA), RightNow Technology (Nasdaq: RNOW), Safeguard Scientifics (NYSE: SFE), SAP (NYSE: SAP), Sealed Air (NYSE: SEE), Service Corp. (NYSE: SCI), Shutterfly (Nasdaq: SFLY), Stericycle (Nasdaq: SRCL), Sturm Ruger (NYSE: RGR), Superior Energy (NYSE: SPN), Teradyne (NYSE: TER), Teva Pharmaceuticals (Nasdaq: TEVA), THQ (Nasdaq: THQI), Tupperware Brands (NYSE: TUP), USA Mobility (Nasdaq: USMO), Visa (NYSE: V), Wellpoint (NYSE: WLP), Whole Foods Market (Nasdaq: WFM), Wyndham Worldwide (NYSE: WYN) and more.

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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