Trade Today: BlueScope Steel Limited (ASX: BSL) The reaction to yesterday's profit outlook was overdone, expect a good trade as the share price recovers. BlueScope Steel lost more than $436 million from its market value, plunging over 12% yesterday. Australia's biggest steelmaker and a global steel producer released its FY 2014 profit results. Despite reporting an underlying profit of $112.3 million - which represents a turnaround of $105.6 million from last year's underlying profit of just $6.7 million - investors shunned the stock. BlueScope's earnings are sensitive to a number of factors which are largely outside the company's control including hot rolled coil steel prices, coal costs, iron ore costs and the US-Australian dollar exchange rate. At the start of this month the stock was trading around 6.32, closing yesterday at 5.32 I think there will be good trade in this short term. BUY now. Full Read: (VIEW LINK)



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Matt Felsman

o I think there is a good trading opportunity in BSL. Yesterday we saw Non-Executive Director at BlueScope John Bevan announce on market he picked up $50,000 worth of stock, Credit Suisse has an Outperform rating with a $6.40 price target and Goldman Sachs Global Investment Research released a note yesterday quoting 42% of their global Investment Banking Relationships rate BSL as a BUY. From to current levels to around $6.00 is a smooth 10% return, last trading at 5.40.

Matt Felsman

I think there is a good trading opportunity in BSL. Yesterday we saw Non-Executive Director at BlueScope John Bevan announce on market he picked up $50,000 worth of stock, Credit Suisse has an Outperform rating with a $6.40 price target and Goldman Sachs Global Investment Research released a note yesterday quoting 42% of their global Investment Banking Relationships rate BSL as a BUY. From to current levels to around $6.00 is a smooth 10% return, last trading at 5.40.

James Marlay

A little bump today, are you expecting this to roll out over a few days?