Is It Time To Fade The Rally In US Steel Corp (X)

This was originally published on Andrew Nyquist’s SeeItMarket.com on December 25th

Shares of United States Steel Corp. (X) have collapsed 81% from the 2014 highs, but is it still too early to call for a bottom in the once great steel producer?

China’s mass production rate of steel has led to “dumping” in the United States and other areas of the world, which essentially means those foreign competitors are selling below or at production costs. Tack on a stronger U.S. Dollar and you have continued downward pressure on the likes of US Steel, Nucor (NUE), AK Steel (AKS), and more.

And this could keep their respective stock prices suppressed a bit longer.

Despite tariffs levied by the U.S. Commerce Department on December 23rd, the market reacted as if the anti-dumping tariffs were less … Read More »

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Open Interest Updates From The Previous Trading Days Action

AECOM (ACM)- June $27.50 put open interest went from 3,632 to 8,398 contracts (more buying yesterday).
Air Products & Chemicals (APD)- Apr $140 put open interest went from 2,077 to 4,280 contracts (selling as part of a bull risk reversal yesterday).
Atmel (ATML)- Apr $9 call open interest went from 3,309 to 5,246 contracts (buying yesterday).
Bank of New York Mellon (BK)- Mar 20 $40 call open interest went from 17,027 to 18,663 contracts (more buying).
Anheuser Busch Inbev SA … Read More »

Nucor Shares Are Breaking Out To The Upside

My commentary on Nucor (NUE) for TraderPlanet.com.