Investors favor steel stocks due to attractive price-earnings ratios and high dividend yields.

These stocks historically have price-to-earnings ratios in the high teens to low 20s, an I expect they'll return to that level.

Banks and utilities are high dividend-yield spaces and they become less attractive as bond yields rise. It's normal in an environment of rising bond yields to see stock markets correct.

What's important for investors to realize about the Dow is it's not just steel stocks and industrial-related stocks. There are growth stocks. There are financial, entertainment and industrial stocks. So when one sector isn't doing well, another sector may be doing well. And that's exactly what's propelling the Dow.

These stocks are mostly bought by retail investors. When these stocks approach high double digits, they become less attractive to retail investors.

This special dividend is also very attractive for investors. Looking ahead, we're concerned the changes proposed under the scheme of control would have an impact on their business.