Get started

Nucor

Head and shoulders bear flag Short $NueNucor was driving me nuts the last 3 months constantly setting all time highs (while the rest of the market bled out) when their last earnings had lowered guidance that would have crashed any other stock. Twice at new records I bought puts, but chickened out and sold early for losses when they kept rebounding back to new highs again. Anyways I saw the same options today worth a couple grand more than i sold for, and that’s with theta decay of short dated options. So I did some TA and belief the risk reward is still worth buying puts or shorting, especially if you catch it when it’s going up. So anyways, from a TA standpoint they are a little overextended and just finished an a 12345 motive wave and an ABC corrective wave pattern so the first couple leges could be choppy before the next drop, but it’s coming. The target of the bear flag was roughly the same as the head and shoulders: Analysts give it a fair price of $60, I have it crashing to $95 minimum(the measured target). Hopefully it goes further. Got myself some puts one more time, and as usual they are starting off up. I’m not going to paper hand this time. I believe in the TA. I respect the patterns. I trust the fundamentals will bring the price where it belongs.
NYSE:NUEShort
by BrianVS
2
Nucor Steel Breaking OutNucor is a leader in the U.S steel industry. Currently economies around the globe are undergoing synchronized growth. Steel prices rise as economic activity picks up because expansion coincides with increased construction activity. Two additional bullish events that could boost demand for steel are the passing our an infrastructure spending bill and tariffs on Chinese steel. Nucor has some of the most advanced manufacturing plants and is currently breaking out after a long period of consolidation.
NYSE:NUELong
by gthom9
CLF: Contrarian OutlookCLF is a buy in my opinion but the price must close above the .786 fib retracement box I have placed in on the chart for a long position to be considered. Noted for a lagging share price to the industry, yet considered a great company with potential. To those trading the steel market, fundamentally the opinion is definitely swaying towards bullish for 2018. --US housing starts rose 3.3% to a SAAR of 1.297 million units (November) and The Architectural Billing Index rose to 55, both of which are good signs for an increase in the demand and spending on steel. Coupled with the future infrastructure projects proposed by trump signs are looking good. --Toyota/Mazda plant has just been approved in Alabama, estimating 300,000 vehicles per year starting in 2021. --Chinese Steel exports have fallen for over 15 consecutive months. ---CLF announced a new HBI plant in Ohio w/ a capacity of 1.6+million tons a year. For a safe position, i am looking for price to close above the .786 fib as stated above, this would reject the potential pattern i have drawn on the chart. The boxes are calculating +/-2 % variance of the Fibonacci ratios. If we do not see a close above, a daily doji and a bounce of the .786 could be signs for a lower share price. In that case look to enter around 5.70 which seems to be a good support, or look for a completion of the ABCD pattern.
NYSE:CLF
by Jroge107