Grupo Simec SA de CV (SIM)

Company

"Grupo Simec SA de CV. The Group's principal activity is the manufacture and distribution of steel beams, channels, angles, (steel bars rounds square rods), flatbars and other steel and aluminum products. The Group distributes its steel products throughout Mexico and exports its steel products to the United States of America, Latin America, Canada and other countries." (Marketwatch.com)

On the other hand, the company's own website says they support and maintain computers (at least as I translate it). Who knows?

"Con 10 años de Experiencia SIMEC ( Sistemas de Ingeniería y Mantenimiento de Equipo de Computo) se ha consolidado en el ramo del Soporte técnico y el mantenimiento a computadoras, a base de esfuerzo, dedicación y buen trato con los clientes." (company website)

On still another hand, SIM's press releases [in English] say, "Simec is a mini-mill steel producer in Mexico and manufactures a broad range of non-flat structural steel products." Now I wonder if there is more than one Simec—

Buy

18-Feb-05. Simec peaked in December then pulled back. Since January it recovered nearly as high as the previous peak and is poised to push higher (see sidebar). Today's jump is accompanied by heavier-than-average volume, which should be a good sign. There has been an uptick in relative strength (RSI) and buying pressure (+DI), and trend strength has just broken past the 20 threshhold.

Vamonos!