I think that 4 bucks is next price target as per the gap window on the charts. The damn thing is oversold and needs to revert to mean. Longer term steel is a much needed commodity for the energy infrastructure boom. Now that you have some gains just put in a break even stop and let it hit first target for some gains with no stress.

I am watching for LNG to shake things up a bit before I get exposure. It looks pretty right now but like I said, take a look at the nat gas prices chart and you will see why I would rather sit and wait than try buy right now even though I like where this thing is going longer term.

This nat gas boom is going to fuel a boom in the Gulf Coast that should last decades. The USA is a diversified portfolio with the East coast and West coast as short plays but the Gulf Coast as a long play. I'm going to be getting into real estate, restaurant, casino, and all the little plays I can uncover down here as everything where this boom is occuring is within a day's drive of where I live in Houston.

By the way, this town is booming. I grew up here and recently moved back, but am seeing so many out of towners. I do not like how many of these people but I love the aggregate economic activity that they are creating.