Today’s Trades: NOV (and Steel comment)

I bought 300 shares of NOV at $114.35. Buying this stock on pullbacks has become a go to move for me, like Allen Iverson’s crossover. This is one of those “keep doing it until it ceases to work” trades, akin to feeding a hot three point shooter. Okay, that’s it with the NBA references . . .

Steel is looking ugly as ever, but as I said in last night’s post, I’m hesitant to short until we get a bounce to the 200 day moving average.