Click to Enlarge Steelmakers have been down and out since the global economy hit a speed bump back in 2011. But now, with signs of economic re-acceleration mixing with a continuation of the Fed’s monetary policy stimulus, the entire industry group is coming back to life.
Mechel Steel (MTL) is moving up and out of a tight four-month consolidation pattern that took the stock all the way back to its 2009 bear-market low near $3 a share.
I’ve added a number of these positions, and a few others I didn’t mention, to my Edge Letter Sample Portfolio.
As of this writing, Anthony Mirhaydari has recommended MTL, SCCO, DHI, TWO and IVR to his clients.