What's not to like here?? 2-hour view possible retest of $19.50 in store? $XLI $DJIA $XLB by MaxxPayme111
X (United States Steel) Holding the last line of defense.This support line is extremely important for the bulls to hold. If a breakdown happens expect this stock to go much further down. Also the RSI is indicating strong bearish momentum. Futhermore, acccording to Wall Street Journal this company is being impacted by low demand for steel, and facing intense competition from low-cost foreign producers and top of all that the fragile global economy is impacting this stock since it is an industrial stock. online.wsj.comby jmtbernardo0
X: Channel TradeNeed to see the channel breakout for a long position, or breakdown for a nice short trade. Channel did breakout. Long Target of approximately $23.by TradeVulture.com220
PAIRS TRADE: BUY US STEEL (X), SELL SHORT GM (GM)See chart: Risk 10% overall. X is volatile. Upside potential is roughly 20%. 5-10% downside in GM and 10-15% upside in X. I like this setup. You can see that the pair of stocks is volatile and there is a lead-lag relationship that shifts back and forth. Given how GM is leading higher, it gives me confidence that X will find a bottom here and hold. Cheers. Technical Tim, Saturday 6:13PM EST, Sep 22, 2012by timwest11111