I`m new to this, so Im kinda lost.
Should I invest in ARCELORMITTAL? It seems like good business and I never expanded beyond traditional stuff. (I own a business thats getting back because I do it in a traditional way) so I want to move capital around.
Is this a good idea?
China is world's largest steel exporter. Their economy is weak. They sell steel very cheap cause need cash. They devalue their currency thus making their steel super cheap. They sell at any price forcing MT to shart financially. They have too many steel factories. Not enough demand for steel from those factories. They shart.
I wouldn't own MT until the price for MT is higher on a weekly basis than the prior 4 weeks.