Based on my analysis in "inthemoneystocks" thread - This popped right to @Onepoint272 's analysis of ~31. I'm short here to the gap down ~21.
Trump's Steel Battle Looks Unwinnable" Trump's "probe" is an excuse for not investing in infrastructure, as promised. The S&P 500 closed 0.8% higher, while the Nasdaq increased 0.9%. Steel stocks soared after President Trump launched an investigation into whether foreign companies have flooded the market with cheap steel. Strong sell.
Trump also said that the Keystone pipeline would use American steel, that didn't happen either. Too bad, he could have pushed harder.
X is sitting around 25 in the after hour trading. ER was disappointed. I wonder if this pull back will break 25 and go to 21
I know eh. I did not want to pay for the ER premium so I did not have any X position opened. I would have shorted X. Good luck to you and enjoy your big profit
Hi ! Wellcome back! We missed you man! Last autumn was poor in terms of arbutus berry. It took me one morning to pick 10 pounds, with my father. A consequence of an heavy summer and not much rain during last months of year. The result was this spring I didnt put at work my moonshine still. Nevertheless, as in markets, you need to see far beyound dark clouds....my tree plantation (arbutus trees) seems ok. Planted 500 and just lost 15%, that I did replant. A couple pics for you, foxes! My plantation!
This was based on a technique by @Onepoint272. I'm actually not sure what the next play is - probably need to work at a longer timeframe or wait and see after a couple days what happens.
Joe, you got a P&F target price of 21.25 using a $1.75-box by a 1-box-reversal on a "closing" basis. https://stockaholics.net/threads/in...wing-trading-market-moving-action.264/page-34 I usually use the High/Low setting instead of a closing price basis, however it works and may even be more appropriate. Here is a $1-box by 1-box-reversal on a closing basis giving a projected price of $22 to $17. You will notice the up-leg got quite overbot by the public; a public feeding frenzy probably due to the Trump infrastructure spending hype. Once the CM was done distributing to the public (and getting short) he quit supporting the trading range (timing it with the ER) and the public marked it down. Looking at a vertical bar chart it looks like there is some sort of stopping action. Obviously the CM was buying it back (covering short positions) the last 2 days from the panicked public. He needs public fear and the high volume to unwind his large short position and begin to get long, so as not to drive the price higher. But this action could just be preliminary support and further decline could follow down to a selling climax whereupon cause will have to be built before the trend can change (accumulation trading range) or continue (re-distribution trading range). Or it may go right into an automatic (short-covering) rally from here to establish one of those trading ranges. Either way, this $22 to $24 area will be re-visited.
There is some hearing tomorrow about steel imports, some speculators are taking a position here hoping that US Steel gets some love!
