Welp. Ended up rallying 10% today. I've got a $6 calendar call on it so I didn't lose money, but I didn't make any either
Currently approaching a pretty aggressive support line, bounced off resistance for a big drop today on pretty high volume, and didn't lose support. Also a bullish crossover of the 20MA and 200MA. No longer in overbought territory, so this could see a bounce in the next day or two. Could be a decent opportunity to try for a 10% gainer in a farily short time period, or more if you want to hold it even longer and see if it breaks through resistance. Maybe Trump will mention something infrastructure related and this could see a jump, who knows. In fact, if I'm up tomorrow I may take a shot on this one if it hasn't broken below support already.
Called the bounce, wasn't up in time to get in though, and hate putting a limit order in to buy when I won't be up for hours because the entry could be awful if it gaps way down for whatever reason. Had I been up and seen the open price, I would have definitely been in and been up ~4% already.
AK Steel reports 4Q loss Source: https://www.cnbc.com/2018/01/30/the-associated-press-ak-steel-reports-4q-loss.html This one's got an interesting chart after beating earnings today. Currently down almost 9%. The LOD today bounced off the 50MA support after dropping through support at the 200MA, where it's currently sitting right now. With a few positive market days, this could real quick rebound over 10%. Bullish crossover of the MA's will be happening soon too.
Just broke back over resistance of the MA's and had a bullish crossover of the two. No longer oversold. Got a little room to run yet, but to me it would feel like chasing at this point.
Pulled this filly out of the paddock a few days ago. It had a threatening bar Wednesday but failed to follow thru...that was bullish in itself.....and instead it closed up 9.5% today (Thor's day) for a sign of strength (SOS). Nice set up here I think. Nice decision by TOrm not to chase that first SOS bar. Should be ready now though. Note that it spent 7 bars trying to take back that first SOS bar and then another SOS.....bully. AKS has been building cause since May 2017 for an effect to $36.
Gary Cohn's departure as Trump's chief economic advisor is a strong indicator that Trump will go through with tariffs on steel and aluminum as Cohn is against the tariffs....bully. Gary's obviously not long steel but look at the charts and it is clear there is a huge and likely influential investment in Merkin-made base metals that has been accumulated for a very long time.
