I like CLF, X, and AKS here. These industrial stocks are all in the process of bottoming.
That said, they are volatile and risk is high. Now that CLF has gained the 50ma, I would like to see a new shakeout low and recovery, like what it did in Oct, 2016.
X is, I believe, the most stable ride owing to its higher market cap. It is not as overbought as the others.
Long X, 5% position, 10% stop.
Long CLF, tiny position, will add if I see a shakeout + recovery.
That said, they are volatile and risk is high. Now that CLF has gained the 50ma, I would like to see a new shakeout low and recovery, like what it did in Oct, 2016.
X is, I believe, the most stable ride owing to its higher market cap. It is not as overbought as the others.
Long X, 5% position, 10% stop.
Long CLF, tiny position, will add if I see a shakeout + recovery.
Trade closed manually:
I sold for a small loss on the shakeout on 7/27. CLF and X both did very well on earnings, but for whatever reason they sold off.
I actually lost money trading this thing while it has been in a slow uptrend, because I tend to buy high (expecting momentum) and stopping out quickly (big volatility in this stock). I will be extra careful when trading this stock/sector in the future.
I actually lost money trading this thing while it has been in a slow uptrend, because I tend to buy high (expecting momentum) and stopping out quickly (big volatility in this stock). I will be extra careful when trading this stock/sector in the future.