Chinks in the Armor: STLD

STLD and other steel stocks have been momentum favorites of mine for quite some time. While many steel stocks still look solid (l MT and RIO to name a few), some noteworthy high flyers are showing chinks in the armor. This is not a good sign for the industry as a whole.Let's take a look... Continue Reading →

Trades and Vanity Performance Stats

I sold 1000 shares of QID at an average price of $53.86 (entry at $55.50) for a $1640 loss (-2.9%).I covered 200 shares of AAPL at $92.05 (short at $90.10) for a $395 loss (-2.1%).I covered 500 shares of STLD at $41.08 (short at $39.08) for a $1000 loss (-5.1%).I sold 200 shares of VLO... Continue Reading →

Chart: STLD

Steel has been one of my favorite sectors over the past few months, with STLD being the trade of choice. Notice that the 50 day MA and the gap level converge at the same point. It will be interesting to see if the stock can hold above this level ($35.75-36). If the bulls can't hold... Continue Reading →

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