Monday, March 15, 2010

NUE possibility!

Sector: Basic Materials; Industry: Iron and Steel


Nucor Corporation (Nucor) along with its affiliates is engaged in the business of manufacturing of steel and steel products, with operating facilities and customers primarily located in North America. The Company operates in three business segments: steel mills, steel products and raw materials. During the year ended December 31, 2009, the Company recycled approximately 13.4 million tons of scrap steel. The principal products from the steel mills segment are hot-rolled steel (angles, rounds, flats, channels, sheet, wide-flange beams, pilings, billets, blooms, beam blanks and plate) and cold-rolled steel. Principal products from the steel products segment are steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, light gauge steel framing, steel grating and expanded metal, and wire and wire mesh.

 Looking for a breakout of 45.50 to get long:

This one could have room to 50.

I will post more if the alert triggers and I end up taking a position.

1 comment:

  1. Okay so my alert was triggered and this thing broke past 45.50 and went all the way up to 46.16. I did not want to chase it so I waited for it to pull back to where it broke out and got long 3 Apr '10 46 call contracts.

    I will stop a break below 45.