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Filed under: Forecasts, Newsletters, S and P 500, DJIA, Stocks to Buy

"The technical backdrop has taken a distinctly bullish turn," says Michael Ashbaugh in MarketWatch's The Technical Indicator. Here, he looks at the market averages and a trio of stock ideas.

"Perhaps most obviously, the S&P has staged a 10-to-1 rally, and a 28-to-1 spike, from its 200-day moving average. And by any measure, this raises a bullish technical flag.

Filed under: China, Middle East, U.S. Steel (X), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RTP), Commodities, Stocks to Buy, POSCO (PKX)

"Global steel producers are thriving, and their stocks are hitting new highs," note Yiannis Mostrous and Roger Conrad, who add, "But the best is yet to come."

In the industry-leading Personal Finance, the two advisors explain, "We’re still in the early stage of a truly global bull market cycle for steel, and the companies best positioned to take advantage are headed a lot higher." Here, they look at their "Iron Five."

By Jason Simpkins

When it comes to the worldwide metals market, gold may get all of the attention but other, more durable, metals such as steel and iron have proved to be much more profitable. For instance, the price of gold is actually down 2% from mid-January, but steel prices are 50% higher.

Before Excel Maritime (EXM) @ 7.50 per share and even before Hirsch International (HRSH) @ 1.25 per share or Lazare Kaplan (LKI) @ 8 per share. The first company even mentioned in the relative arbitrage was a South Korean Steelmaker Posco (PKX).

Here’s the article I wrote in January 2006: