steel stocks
Lye, Peanuts,
I had some SIM that I bought back in September 2006 at $12.50 when it broke out again. Sold it for around $17 because it was making me nervous, kept making new highs on lower volume and pulling back on higher volume, or so it looked to me. It ran up to over $20 after I sold, and finally got whacked when Nucor (NUE) came out with a warning. SIM has been headed down ever since, and is now back at $12.50 again. I'm waiting for it to turn again. I have to admit that I don't know much about the steel industry or it's prospects, SIM just showed up on a screen, along with STLD, so I watched it for awhile then bought. Glad to see some others paying some attention to steel. I only mention it because, other than SCHN, I know that NUE also had some sub-par results.
Originally posted by peanuts
View Post
I had some SIM that I bought back in September 2006 at $12.50 when it broke out again. Sold it for around $17 because it was making me nervous, kept making new highs on lower volume and pulling back on higher volume, or so it looked to me. It ran up to over $20 after I sold, and finally got whacked when Nucor (NUE) came out with a warning. SIM has been headed down ever since, and is now back at $12.50 again. I'm waiting for it to turn again. I have to admit that I don't know much about the steel industry or it's prospects, SIM just showed up on a screen, along with STLD, so I watched it for awhile then bought. Glad to see some others paying some attention to steel. I only mention it because, other than SCHN, I know that NUE also had some sub-par results.
Comment