Steve Grasso Is Bearish On ArcelorMittal (MT)

Steve Grasso said on CNBC's Fast Money that he wants to take a short position in ArcelorMittal (ADR) MT. He explained that seasonality is very important for the steel sector, and January, and February are usually the weaker months for the steel companies. December looks like the strongest month. ArcelorMittal (ADR) (MT) is already down approximately 7% this week, and Steve Grasso thinks that it might continue its downturn. He uses a general rule for the steel companies. The last week of November is the right time to buy these stocks, and the last week of December is the right time to sell. If you want to take a short position in the steel companies, you should do that in January. ArcelorMittal (ADR) (MT) currently trades approximately 2.20% down.