Keep an eye on shares of US Steel (X). The stock has dropped to $42 per share. I will be looking to start a position in US Steel in the 30’s. US Steel is currently trading at just 7 times next year’s earnings projections. Even if the company’s 2011 EPS is off by 25%, US Steel would still trade at just 9 times earnings. The stock would be an absolute steal in the 30’s.