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Thursday, September 28, 2006

Cramer's STOP TRADING (9/28/06): Buy Steel Stocks

Today on CNBC's STOP TRADING segment on CNBC, Jim Cramer was speaking from Georgetown.

Cramer said the WSJ article that called steel stocks (inventories at plants and mills, not equity) rising is false. You would sell these if there was a glut but he said the WSJ was wrong.

He noted Oregon Steel (OS), Allegheny (ATI), Nucor (NUE), US Steel (X).

He said Reliance Steel (RS) is the best and his favorite in the group.

He said the UBS report responsible for this drop in the names is wrong.

He also noted that Altria (MO) is going higher and thatthe analyst calling for $93 may be being too conservative, and that judge that ruled to certify the class action is wrong and will be overturned.

Jon C. Ogg
September 28, 2006
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