I was looking at some steel names this afternoon. We have covered names like Nucor (NUE) and some others. I typed in the symbol STLD for Steel Dynamics Inc. and I liked the setup. Let's check.
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Some beaten-up small caps, biotechnology, cannabis, and growth stocks shined, but other areas were still caught in the drizzle.
This is what makes bearish markets or choppy markets so difficult.
The market will start to sort out the 'good' stocks that have been unfairly punished from the 'bad' stocks that don't deserve better valuations.