RE:RE:RE:RE:Stelco CEO Warns North America Market a 'Falling Knife'Stelco won't have a billion dollars when they report. Probably in the 800-900 million range pre buyback. They had 410 million cash in Q3. Probably going to earn 450 in Q4 and they are spending 250 on the buyback. 400 + 450 - 250. I'm guessing 800 on the earnings date because of the inventory build. Post buyback- they will have 550-600 million. And steel prices HAVE fallen off a cliff but still have a lot to go still. When the January contract expires on Tuesday, the active contract will be down 40% in 5 months. I don't understand the reverence for Alan as some genius lmao. He hedged in a rising market and lost millions. Then he became gun-shy and he flat out rejected hedging in Q2 and Q3 at the highs because he thought steel was too low and it was going higher.