This stock has been on a tear lately, even though steel imports from China are coming into the U.S. in droves. I shorted at $50 and am holding. Opinions?
U.S. Steel - Overextended or Not
- Thread starter john_nyc_trader
- Start date
John;
Maybe better off shorting X than CLF.
And while i prefer a weak sector to short a stock in,
[steel sector looks strong] ;
X has been a good liquid brand name
& a weakling/ underperformer,
for some time.
Maybe better off shorting X than CLF.
And while i prefer a weak sector to short a stock in,
[steel sector looks strong] ;
X has been a good liquid brand name
& a weakling/ underperformer,
for some time.
I trade X/NUE everyday so these types of moves are almost non-existent the past few months. DEFINITELY worth a correction. Im looking for a +1 at least.
Chagi, not really picking a top, just seeing exhaustion points, and $50 is a huge level to get past thru in one shot 
Closed position for over a +2 gain. Thank you X specialist!