You might recall an earnings trade we took last year in APOL. It was a stock that had been left for dead, and a trade that had zero expectations priced into it going into earnings.
I’ve found a strikingly similar set-up in US Steel.
On the Macro side, I like that China ($SSEC) is breaking from a multi-year range, and that the steel stocks have quietly rallied to the upper end of multi-year ranges, and X is sitting at an identical spot that APOL was when it gapped and sprinted after its earnings announcement.
I have zero insight as to what US Steel will report next week. HOWEVER, I do recognize in a stocks volume structure, what would happen if it just gapped a little higher. It would find initiative buyers and start that move to $40 that we’ve been talking about for over a year.
Disclaimer: Long Aug 28 Calls
OA
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Amen
CARL ICAHN WANTS TO OWN US STEEL
https://www.youtube.com/watch?v=A0T6lUZLtXo
Uncle Carl is a meddler not sure anybody but Carl wins when he gets involved
OA, What stike, which month? (Just playing Player)
LOL. Lotta love for you, granpa.
$STLD looked good
NUE has been leading on the monthly too.
interesting pick Jeff. I bought some STLD last week and then it popped 8% on a IT taking another steel company over. Weird given everything I’ve heard is that pricing will continue to be soft through year end due to chinese dumping
I like the recent consolidation in this space.
huge volume on the 30 strike Aug 16th exp
Probably best to wait until later today after the monster sell off
I decided to buy in front of the monster reversal. But to each his own.
OA – do you know when the solar tariff ruling is set to be released?
There is a solar tariff ruling?
Does anyone know the date or time?
I may be wrong, I was looking for any news and couldn’t find anything on this.
I bought the X Aug 29’s yesterday and I am loving it today!!!
FSLR – was that a tease
Bot. $GNRC shares just under 44.
Only need one Named storm and it’s up on a down day.
FEYE looks good
Got the X 28’s today.
OA, I took your advice and bought these last Friday. Booked my gains today. Just wanted to say thanks, and appreciate the hard work and insight you provide!
500%+ Thanks Jeff! Just what I needed, took the gifts from the trading gods and cashed out. Good times!