Steel Plays To Watch

U.S. steel companies have been on fire over the last week, soaring on optimism and other key factors. Today, United States Steel Corporation (NYSE:X) is jumping higher again, trading at $57.21, +1.41 (+2.53%). As long as large cap steel companies stay strong, eyes must be leveled on small cap steel plays. This is a standard sympathy play which is used my many smart traders and investors. The key here is to put these small caps on watch and not pull the trigger until the large cap plays break recent highs.

The three small cap plays are all Chinese. With growth in China continuing, their valuations are very interesting at current levels. The first is China Precision Steel, Inc. (NASDAQ:CPSL) which is trading at $1.67. The second is General Steel Holdings, Inc. (NYSE:GSI) trading at $2.55 an the last is Sutor Technology Group Ltd. (NASDAQ:SUTR), trading at $2.05. All are trading at attractive valuations with intense possible growth ahead.  The key again is to watch for the right signals. At this time these are just on watch.

About Gareth Soloway 168 Articles


Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

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