|Day Low/High||19.15 / 20.95|
|52 Wk Low/High||2.63 / 18.77|
It's a bullish picture for the producer of iron ore and steel.
Getting dizzy looking down from here? Then look up, because we may just be getting started on this market.
As the steel maker makes an upside breakout -- here's where traders should look to buy the dip.
Here's why the institutional stewards of capital who are taking back control of the market are salivating over a dirty old iron company.
Beyond the impacts of the pandemic, the political environment and its impact on potential policy have taken center stage.
These names are showing both technical and quantitative deterioration.
While we're getting ready for those earnings reports after today's close, here' a look at what's on tap tomorrow morning. American Express Autoliv BlackRock Citizens Financial Group Cleveland-Cliffs Gentex IberiaBank KC Southern Manpower NVR Regions...
The indices are holding up but the underlying action has been quite chaotic.
SLB doesn't look like it has much downside risk, but it may not be a mover in the near term.
The creature from beneath your bed, or from the darkest recesses of your closet, can still spook the marketplace.
There probably will not be a trade war, beyond the intention of making a point.
It may be time to take some money off the table on select Trump stocks.
Bearish names dominate this week and financials in particular.
We need to watch closely to see if this poorer action develops further.
It is a different mix of action today, with some issues in a few sectors, but the buyers remain stubborn.
You can feel the misery of those who are struggling with feelings of being left behind.
And be aware that the trade is already long in the tooth.
This market just doesn't have much respect for arguments that seem extremely logical.
Today's rally is less-Trump, more-earnings; but don't get too cocky.
Use any weakness to buy more of the iron ore producer is my suggested game plan for aggressive traders.
The obvious course of action is to look for ways to put capital to work.
They have become a referendum on Trump's plans for lower corporate taxes.
Breadth is running very solid, and there is a favorable technical setup.
Steel and iron stocks could make interesting speculative plays.