OK, OK, OK On goes the Chef's Hat (toque)
Now,
-First you want a steak that's at least 1in thick with at least OK marbling look for PRIME or CHOICE graded meats. (Select is a marketing ploy to sell shoeleather to the uneducated)
-Next open all the doors and windows and vents turn on a fan in the kitchen.
-Get a HEAVY cast iron skillet ROCKET HOT.
-coat your meat in oil, S/P, and a little garlic.
-put the meat in the pan and cook for at least 2 to 3 minutes (until dark browned) NOT BURNED then turn it and cook for 3 to 4 minutes (the pan is cooler, it takes longer to brown)
It's going to smoke spit and sputter all over everything so lay out tinfoil accordingly.
Brown = flavor
burned = garbage
When you sear like this, you are not "sealing in the juices"... Browing adds flavor and caramalization to the meat. The juices naturally move away from the heat because meat contracts as it cooks.
After the meat is browned it's "Rare"
For medium rare throw it in the oven (400) for about 5 min
meduim well 7
well 8
THEN REST THE MEAT!!!
put it on a plate covered loosly with foil. FOR AT LEAST 5 MINUTES!!!
Resting meat allows it to relax from being in the intense heat. The relaxation will allow the juices to re-distribute throughout the meat.
If you don't rest the meat all the juices will be in the center of the meat and when you cut it they will run all over the plate and look nasty instead of making your steak nice and juicy.
Anyway, the trick is to have a HEAVY cast iron skillet SUPER HOT!!!
If it cools too much or isn't hot enough the steak won't brown and will leak juices then boil in it's own juices making the meat tough and leathery.