Mechel (MTL) Stock Still in World of Hurt

Mechel (MTL) has hit my “target” of $40 to add more, but it is close enough now to the 200 day moving average ($38) that I’d prefer to wait and see if we can get that price. It has been an interesting exercise of late in the metals space - first goes Vale (RIO) now goes Mechel (MTL). Interestingly the market is assuming both are on the hunt for acquisitions. We are in the upper $39s now and this remains one of my favorites ideas - so I’d love to build it up at $38. It is amazing to see these forward multiples compress. S…
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  18 July, 2008| Fundamental Analysis | @ 6:52

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