steel stocks taking a pounding
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steel stocks taking a pounding
there's all this gloom and doom about oversupply of steel due to chinese manufacturers, euro depression, high levels of debt that steel companies are holding etc and it's killing the stocks...they're at their lowest in three plus years. I just bought 1.5k X and 2k MT and holding tight. help me jesus, help me jewish god, help me allah
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
picked up 1k X @17. holding onto dear nuts tightly
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Good luck man! I hope both of them bounce hard for you.
nevada- Posts : 1831
Join date : 2011-04-29
Re: steel stocks taking a pounding
nevada wrote:Good luck man! I hope both of them bounce hard for you.
or die from catching the falling knives. either way.
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
yeehawww.....up 15% of DDD as of today. getting greedy now! want to add to position on pullback!
up 3% of X and breakeven on MT
up 3% of X and breakeven on MT
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
picked up 500 X @15.90 and 500 DDD @31.90. have a buy for 1000 MT @11. there's something really wrong with valuations when companies are trading at less than 40% of their book.
this mining stock, CLF (cliff natural resources) been taking a pounding and selling at near-2009 financial crisis lows around 16-17...am going to take a small position if it hits 16 and see what it does
this mining stock, CLF (cliff natural resources) been taking a pounding and selling at near-2009 financial crisis lows around 16-17...am going to take a small position if it hits 16 and see what it does
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
With mining stocks there seems to be a fear that their cost of mining is going to exceed the price of the metal itself.
nevada- Posts : 1831
Join date : 2011-04-29
Re: steel stocks taking a pounding
well as long as ppl want more and more cars to drive, more and more buildings to live in, they need that iron and copper to be mined. cant get away from it. CLF is outrageously cheap but there must be a good reason in the short term.
OT, these natural resources are badly out of favor in some cases, which doesn't bode well for the bull market in general. you cant have industrials, natural resources and commodities going down while the overall market keeps making new highs. that, along with worsening market internals is an indicator of bullmarket abt to correct 20% easily.
OT, these natural resources are badly out of favor in some cases, which doesn't bode well for the bull market in general. you cant have industrials, natural resources and commodities going down while the overall market keeps making new highs. that, along with worsening market internals is an indicator of bullmarket abt to correct 20% easily.
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
muaahahaha..I mean damn wish I picked up more X at 16....hope it comes back down so I can pickup another 1k. easy runup to 22-23 imo.
DDD is doing good as well. it's technicals look nicely bullish with golden triangle forming between 200 dma and 50 dma crossing over. will hold till 42 or so atleast if not longer.
this bottom fishing is fun as long as it works, I guess.
DDD is doing good as well. it's technicals look nicely bullish with golden triangle forming between 200 dma and 50 dma crossing over. will hold till 42 or so atleast if not longer.
this bottom fishing is fun as long as it works, I guess.
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.
relief is X hasn't dumped too much on horrendous earnings. action like this confirms that it's building a base at 17. any positive news even if it isn't really material to earnings will cause a panic short covering. good to accumulate IMO
relief is X hasn't dumped too much on horrendous earnings. action like this confirms that it's building a base at 17. any positive news even if it isn't really material to earnings will cause a panic short covering. good to accumulate IMO
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
9% return in 20 odd days. take the profits and run or get greedy?? thats the question, jimmy
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Propagandhi711 wrote:DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.
Are you familiar with volatility based stops? They use a multiple of ATR as a trailing stop.
The obvious stop is near 35 currently.
If I were you , I would sell a third around 40 , another third around 45 and the rest if it reaches 48.
b_A- Posts : 1642
Join date : 2011-05-08
Re: steel stocks taking a pounding
b_A wrote:Propagandhi711 wrote:DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.
Are you familiar with volatility based stops? They use a multiple of ATR as a trailing stop.
The obvious stop is near 35 currently.
If I were you , I would sell a third around 40 , another third around 45 and the rest if it reaches 48.
didnt know abt volatility based stops but looked into them. looks like the math behind is complicated and one needs software to calculate it. I'd normally sell into rally but this post earnings strength is puzzling. thinking it has longer to run. agree with overall stop-sell at 35..
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
ddd hit my first target of 42 already..now the dilemma of hold/sell...pure technicals say dont sell but discipline says sell. good problem to have, but not easy decision, nevertheless. X doing ok - abt 9% return so far. should sell it and buy back lower when summer selling hits but greed winning over and saying sell at 21
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
COngrats man! Eagerly waiting for your next picks
nevada- Posts : 1831
Join date : 2011-04-29
Re: steel stocks taking a pounding
nevada wrote:COngrats man! Eagerly waiting for your next picks
thanks. this is crazy...whatever happened to sell in may and go away? just today DDD was going to dilute it's float with 250 million USD worth of shares issuance to fund some acquisitions and it takes a huge dump on the news, down 6%...in the last half hour it recovered like crazy and ended up 3%. feels like shorts covering, with that juicy 33% short interest they have going on it. don't want to sell a rocket at this time but still praying to murugan and achuthan hoping the run continues. 52wk high is close now, within striking distance so the technical looks strong although it needs to backfill some of the gains. like I said, I dont know where to set stops for this bitch so letting it ride.
same with X...it's looking good, with 16.5% gain. holding onto it so I can sell at 22-23.
MT is still down slightly from my avg price, but holding on. it's day will come once +ve news start coming out of europe..will add on weakness below 11.50
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
this DDD is flying... is at 51 now wtf??? glad I didnt sell at my original 42 target and still got my 1400. all the speculative stocks are flying, NFLX, TSLA, all 3d printing stocks....feels like a bubble before summer crash but who knows. and this morning lazlo biryani guy upped his S&P target to 1900...I smell a street pump and dump underway but not selling anything just yet.
looking for a good way to play nat gas and shale...that's where the action seems to be in this market
looking for a good way to play nat gas and shale...that's where the action seems to be in this market
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
I bought TSLA at 52 just a few days ago. I am tempted to sell it now.
Idéfix- Posts : 8808
Join date : 2012-04-26
Location : Berkeley, CA
Re: steel stocks taking a pounding
whoa@52...take profits is what I would say but exceedingly difficult to do
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Yeah, everyday with this stock seems like it can do another 10%. It is my most speculative position ever. I promised myself I would sell at 70, and buy again if it dips back to around 50, but didn't have the discipline to carry that out. I should sell today.Propagandhi711 wrote:whoa@52...take profits is what I would say but exceedingly difficult to do
Idéfix- Posts : 8808
Join date : 2012-04-26
Location : Berkeley, CA
Re: steel stocks taking a pounding
Idéfix wrote:Yeah, everyday with this stock seems like it can do another 10%. It is my most speculative position ever. I promised myself I would sell at 70, and buy again if it dips back to around 50, but didn't have the discipline to carry that out. I should sell today.Propagandhi711 wrote:whoa@52...take profits is what I would say but exceedingly difficult to do
speaking of speculative buys, am thinking of buying some AMD. it already jumped quite a bit but thinking there's another 50% potential still there
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
http://www.businessinsider.com/consumer-reports-gives-tesla-s-top-score-2013-5
consumer reports give tesla highest score ever awarded to an automobile.
consumer reports give tesla highest score ever awarded to an automobile.
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Sold at 90, put in a buy at 60.
Idéfix- Posts : 8808
Join date : 2012-04-26
Location : Berkeley, CA
Re: steel stocks taking a pounding
Idéfix wrote:Sold at 90, put in a buy at 60.
good timing. looks like it's down to 84 now
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
I still feel that it will go up to 100 and beyond in the next couple of weeks. I sold AAPL at 435 a couple weeks ago, and it went to 450. It's my usual pattern -- leave some on the table. This will be a first if I timed the sell for the peak.
Idéfix- Posts : 8808
Join date : 2012-04-26
Location : Berkeley, CA
Re: steel stocks taking a pounding
I finally did some research into DDD and put in a buy today. It executed at 48. I bought it as a long term play, hope it gives me a decent return by year-end. I should have looked into it more thoroughly a couple of months ago when you and TBT were discussing it, and bought it then at 30!
Idéfix- Posts : 8808
Join date : 2012-04-26
Location : Berkeley, CA
Re: steel stocks taking a pounding
Idéfix wrote:I finally did some research into DDD and put in a buy today. It executed at 48. I bought it as a long term play, hope it gives me a decent return by year-end. I should have looked into it more thoroughly a couple of months ago when you and TBT were discussing it, and bought it then at 30!
I might add some more around 39 if it comes back down...it never filled the gap
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Your opinion on the possibility of a bounce for gold? Sentiment seems overly bearish at this time, so maybe time for an "unexpected" move higher or a deadcat bounce? Thinking FNV, RGLD, GDX etc.
nevada- Posts : 1831
Join date : 2011-04-29
Re: steel stocks taking a pounding
No man, you can't trade something that drops on bad news and no news...gold had its run and is now firmly in sell mode. I keep hearing 1100 as next stop so wouldn't trade...there are much better trading vehicles out there with strong up trends so no reason to buy trade gld
Propagandhi711- Posts : 6941
Join date : 2011-04-29
Re: steel stocks taking a pounding
Propagandhi711 wrote:No man, you can't trade something that drops on bad news and no news...gold had its run and is now firmly in sell mode. I keep hearing 1100 as next stop so wouldn't trade...there are much better trading vehicles out there with strong up trends so no reason to buy trade gld
Thanks, if you see any new interesting ideas please post here.
nevada- Posts : 1831
Join date : 2011-04-29
Re: steel stocks taking a pounding
Propagandhi711 wrote:picked up 1k X @17. holding onto dear nuts tightly
sold X@34...100% return not too shabby. fucking MT is still dead in the water but I unloaded at 15.35 so that pig can go down to 0 for all I care
Propagandhi711- Posts : 6941
Join date : 2011-04-29
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