President Trump signed an order that authorizes Commerce Sec. Wilbur Ross to conduct a review on steel imports and how it might adversely affect national security. It is widely believed the findings will result on massive curbing of Chinese imports, which is causing American steel stocks to catch fire.
Trump signs an executive order on steel imports: “We’re going to fight for American workers and American-made steel” https://t.co/2Rdiy8dR85
— CNN Politics (@CNNPolitics) April 20, 2017
Shares of $X, $AKS, $TMST, $SCHN, $CLF and $ZEUS are leading the fray higher.
The rally in basic resources has caused another upleg in markets with gains approaching +200. Clearly, we were oversold, especially in steel.
Last week, in Exodus, I highlighted the oversold nature of the steel sector and suggested a few names. Yes, it really is this good.
Will the winning ever cease? What am I supposed to do with all this cash?
nothing else to do but parlay it
Please stop the winning, I can’t take the winning anymore Mr Trump!
Keep shorting the market like you have been.
Buy something nice.
I’ve always wanted a lake house
120% long CLF extra ibankcoin moron style. Gonna hold through earnings.
Exodus sounds gnarly. I might have to try it.
What $SNAP? $CLF is Rambo style vindication. Very happy with my May calls, thanks Option Addict!
What is a realistic price target for CLF? $10? $25? $40?
75
CLF is still below the all-powerful (extra OZ) 5-year trendline. Expect it to bounce around here for a few days. Little early to get giddy.
@OA @FLY @TRADER May 19 8$ call options. Up 30% overall, do I hold, sell half, put in a stop loss? Currently 15% of my holdings is this one option trade. Feeling VERY optimistic going into earnings but I’m a fucking cowboy and I need a good father-son chat on the birds and the bees here.
Sell and take the profits or at least use trailing stops
Trailing stops it is, many thank you’s and furverent bows.
Also a massive thank you to the court of excellence that is ibankcoin in the most sincere and general context. See you in the After Hours, and very soon in Exodus.
Let it run, this is day 1 of the recovery. Your in early, give it another week and sell for large sized profits
Too early to sell..
What a joke – conduct a review on steel imports and how it might adversely affect national security? National security? Seriously? WTF? More like start a new war. Trade war for now. And hopefully hot one soon after. That’s my interpretation. Impeding free trade has nothing to do with national security. But hey,…