Goldman Sachs cuts Q1 GDP forecast to 1.8% on trade deficit data,ha what a joke. This is the fourth GS GDP revision in two weeks. Hmm, is a Goldman “fade trade” coming to a city near you? US trade balance is the worst it has been since October of 2008. Dennis Gartman reported on CNBC that he is extremely “bullish” on Gold in terms of the Yen.
AKS- is higher .31 or (4.37%) at $7.34 after the all important NFP jobs report. In my opinion, this is an oversold technical bounce in the stock. The increase in PPS has nothing to do with the companies fundamentals. In my opinion, I see continued selling pressure in AKS in the near term.