Still Have Bibimbap on My Mind

If the steels can sustain today's rally, I am still looking at premier Asian steelmaker POSCO (PKX) as a bottom-fishing long idea. 

Charlie Munger once called POSCO the best run steel firm in the world. And with the share rally in China markets of late it is hard not to at least take a look at this one. 

On the daily chart, below, you can see the badly beaten-down stock is trying to carve out some type of temporary bottom. A move back into the low-$60s would not be unreasonable if the push over $58 now holds. 

As for a long-term bottom case, I am also looking at that from a long-term investment perspective, too. Regarding that point, earnings are scheduled for May 13th. So I may punt on it for anything beyond a swing until that event passes.  

Either way, with this rally in steels I have bibimbap on my mind.