The Move in Steel Is for Real

Is this move in steel for real? Back on Aug. 13, I did an "Off the Charts" with Jim, focusing on steel. I believed we were in for a move higher then, and I believe that still holds now. Steel is still driven by pricing and the overall economy, so if you don't believe things are going to get any better than they are now, then steel is certainly not for you. And while I still believe a move higher through the end of the year is on the table here, I believe that after a strong September run, specific names may pause here. 

U.S. Steel (X) is often the go-to trading name when you think steel. And while I favor and own Steel Dynamics (STLD), I often will look at U.S. Steel before I look anywhere else. Since it has a short interest approaching 30%, there certainly are a lot of non-believers in U.S. Steel. I do have a cause for pause here waiting for some more information on U.S. Steel....319 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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