Letter X Is A Steal (X)

My witty title aside, U.S. Steel X is looking like it's a good idea to get long here, for a trade into the end of the year. Steel stocks, including AK Steel AKS, Schnitzer Steel SCHN and the aforementioned U.S. Steel have shown remarkable strength recently, and any strength in the markets and these names could rip higher to the upside. As far as fundamentals go, X isn't the most well run company, but it is the most leveraged, and with any increase in steel prices, X should benefit more than the other names mentioned. It's not cheap at these levels, trading at 18 times forward earnings, but for the rest of the month of December, that isn't likely to factor much into play. If traders decide to turn this into a longer term hold, 2011 earnings estimates would most certainly come into play, but that isn't the spectrum here. U.S. Steel also has its own iron ore pellets and coking coal, and any increase in the prices of these assets, U.S. Steel could see a boost in shares as well. United States Steel Corporation is a steel producer that operates primarily in North America and Europe. The company operates through three segments: Flat-rolled Products, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-rolled Products segment offers slabs, rounds, strip mill plates, sheets, and tin mill products. Disclosure: no position in names mentioned