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fib_1618

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Reply with quote  #1 
With the construction and metals sectors continuing to do very well right now, I took an adventurous position in AK Steel today for the following reasons:

1) A catch up play in the sector overall which is now at all time highs (in red)

2) The current daily price pattern is showing a remarkable consistency to that of US Steel, though running a week behind (in blue)

3) Being a low price stock, it will probably gain the attention of those who can't afford the main higher priced principles of the sector (in green)

4) As a possible takeover/merger play while enthusiasm remains high.

Collectively then, this is strictly a speculative play, and should be duly noted.

Long at the close at $8.85.

Fib




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fib_1618

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Reply with quote  #2 
With the recent run up in the stock, and the nice looking reversal bar today, I've decided to bank the profits on this one at 11.02.

Fib




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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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Doug

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Reply with quote  #3 

Quote:
Originally Posted by fib_1618
With the recent run up in the stock, and the nice looking reversal bar today, I've decided to bank the profits on this one at 11.02.

Fib



With tonights negativity in X's earnings it appears you are looking prrrrretty smart. Nice job Fib..


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Charts are my opinion only and not a recomendation to buy or sell. I am long or short and flip
at any given moment....do your own dd. cheers!
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fib_1618

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Reply with quote  #4 
Quote:
4) As a possible takeover/merger play while enthusiasm remains high.

United States Steel Corp. has opened talks to acquire AK Steel Corp. in a deal aimed at forging a stronger market presence amid contraction in the global steel industry, according to a Friday media report.                        

The Pittsburgh Post-Gazette reported that U.S. Steel approached the board of AK Steel earlier this week with an initial offer in hopes of wrapping up by October, with the regulatory clearance likely taking about five months.




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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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