After yesterday's strong move up it's not surprising that the futures are down a bit today. The weekly oil inventory report will be released on Thursday due to the holiday on Monday. So we have to wait another day for that drama. I'm hearing a lot of buzz about the WSJ's story on steel prices so I'll have a few steel plays on my screen today...
Potential swing trades:
Longs - None
Shorts - None
Potential day trades:
(From Briefing.com)
Gapping Down
coming...
Gapping Up
ALNY +27.7% (Novartis alliance/investment), RNAI +27% (picked up as secondary play to ALNY), ADTN +15% (guides higher, Legg Mason upgrade), EFII +19% (raises guidance), SBL +8.5% (Co and Intermec resolve RFID dispute), SCON +8.5% (extends pact with major CDMA wireless carrier), SHFL +7.6% (upgraded post-earnings), UNA +6% (upgrade), IDNX +4% (Department of Defense contract), MHS +2.6% (Merrill upgrade), RUTH +2.5% (earnings/guidance), HPQ +1.6% (UBS upgrade).
Disclaimer & How I use this list
Funny. I read that story and didn't make much of it...and I thought I was finally getting hip to steel! I think any potential benefits are going to be company specific, so definitely keep a close eye on dem charts.
I haven't read it, since I don't have a sub. It sounds like the exact scenario you and I discussed last week though.
Looks like STLD and SCHN are going to gap over their 200 DMAs :-o
I am certainly not hating on steel at this point, but the tone of the article had all the makings of commentary at the beginning of the 4th quarter of a football game. The steels have made for great trading stocks though with all the volatility...