But so far this year, steel stocks have been on a tear.

The only difference is that you now have the option to sell your steel stock or energy shares.

Other analysts suggest that the recent decline in steel stocks is more the result of the overall market's condition.

IS now a good time to buy steel stocks?

After spending 1986 in the doghouse, steel stocks have recently given their holders some reason for cheer.

But the cup-half-full contingent is just as vocal in telling its clients to buy big steel stocks.

"In this market, steel stocks really look inexpensive, and with little downside risk," he said.

Indeed, having risen so little, steel stocks will not have far to fall whenever the bull market turns bearish.

The wooden stock of the 38/42 was replaced with a steel folding stock.

The shares rose as high as $33.25 before drifting down, along with most of the other steel stocks, selling recently in the upper 20's.