Anyone konw about SCHN

[dr_arkansawyer]

Schnitzer Steel out of OR.  Was trading at ~$120 before the selloff, now at $35.  Is this a great buy or what?  Could we expect a return to $120 levels?

[Kenny Hawgins]

i noticed similar dropoffs happened with u.s. steel and another steel manufacturer (can't remember).  i may be wrong but i don't know if it'll go up that fast due to the big 3's problems.  just a guess.

[petrinoknowsbest]

All steel companies are taking massive hits right now. Nucor and US steels are trading at super low multiples. Major building contracts are losing financing and steel was already made for the projects. Nucor has went to a cash basis only and will not accept credit from customers. The plants in Blytheville have went from over 200 rail cars a day to 18

[san1981]

As stated above all steel companies are trading at lows, but they aren't the only stocks...check out the spread on SD, PCX and ACI...You have u some coal and natural gas in that mix.

For steel I would prefer X or NUE...I would also look at AKS...I know a couple of weeks ago there were rumors of a takeout...I think a good gauge will be Alcoa (AA)...they are the first to report in 2009 and will give us a good gauge of the world economy...good luck.

[dr_arkansawyer]

That's pretty funny that you mention Alcoa.  My dad is always pressing me to check out Alcoa.  Thanks for all of your input guys - if I hit gold I'll send you your piece!