We have told investors and traders worldwide what it would take the start the rally and this here has to stop and bottom out for the markets to look forward as they have no clarity and therefore the selling keeps up.
We are going to be teach people how this works going forward in our SMF Economic Club you can sign up now by sending an email to info@stockmarketfunding.com or by calling us today at 702-685-0772 we will be happy to update you so that you can start planning your futures moving forward.
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SMF NOTES Reports Q4 (Dec) earnings of $1.07 per share, may not be comparable to the First Call consensus of $0.61; revenues rose 25.6% year/year to $2.14 bln vs the $1.91 bln consensus. Note, the $1.07 excludes a $0.17 charge in connection with final purchase price allocation adjustments regarding beginning inventory values related to its Aug 2008 acquisition of PNA Group. It's not clear if this is included in consensus, but either way, it's a large beat. Co says that starting primarily in November and December, it experienced sudden declines in demand and accelerated mill pricing reductions that resulted in significant competitive pressures and deteriorating profit margins as metals service centers, including Reliance, focused on inventory destocking. As a result, Q4 was very difficult. Co has not seen any meaningful change in business activity levels so far in 2009. Pricing for most all of its products seems to be at or near the bottom but there is still intense competitive pressure in the marketplace as metals service centers continue to adjust inventory levels downward to better align them with demand.
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