Another stock for the radar screen – X (US STEEL)

X has, as ANF, a weekly and daily 13 same week, which is assuming we have a bottom soon (besides the fact they indicate one). This is a good choice for the long side choices one wants to make. As the CRB is making a severe bottom as well theses days some choices in material stocks make sense and technically this is a good one.

Volume is light again so no real buyers market. One sentiment number got even more extreme Inv. Intel. bulls at 22.2 and bears rose to 54.4 but Rydex does not cry low at all
around .70 levels.. Markets hold the gains so far and I do expect them to remain positive – could be a buy the rumor and sell the fact event due to tomorrows rate cut.

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~ by behindthematrix on October 28, 2008.

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