Is anyone looking at X ( U.S. Steel ) today for a trade?

Discussion in 'Trading' started by blaze_trader, Oct 29, 2021.

  1. Their earnings blew away the street estimates and they raised their dividend. I’m thinking there will be a nice short squeeze despite the stock being up pre market.
    Maybe a buy around 25 and sell near 26?
     
  2. maxinger

    maxinger

    it has been between 20 to 30 for many months.

    so traders will be short squeezed and long squeezed till the price
    is squeezed between 20 to 30.

    don't expect the price movement to be decisive.
     
    twstn likes this.
  3. vanzandt

    vanzandt

    Why'd they raise their dividend?
    $300M buyback.
    That's like 12 million shares. Not many on a 267M float.

    Would it not be better to re-invest that money in the company for future growth either way?
    That's why there's such a large short interest.
    You won't get much of a squeeze on a stock like this. It's probably happening right now.
    I wouldn't touch it long up here at $26.
    g/l
     
  4. vanzandt

    vanzandt

    fwiw....
    you'll be watching paint dry.
    There's never any volume on that thing.
    You'd do better, if you're bullish, to try to catch Nucor (NUE) on a down spike.
     
  5. deaddog

    deaddog

    where?
     
  6. maxinger

    maxinger

    You have already made hundreds of mistakes in just a day.
    at this rate, you will be making millions of mistakes in just a month.
    you don't have a good solid trading strategy.

    If you are trading with real money, you will be topping your account soon.

    trading requires many years of very very very hard work.

    STOP trading.
    Go work very very very hard to develop a good solid trading strategy.

    PS: I have made millions of trading mistakes before.
     
    Last edited: Oct 29, 2021
    KCalhoun and Leob like this.
    • What did they raise it to?
    • Currently it is very low at 0.17%.
     
  7. twstn

    twstn

    Agree with you there. We triggered a long on our signals at 26.44 with a stop at 26.17 and a target at 27.23. Got shaken out before it went up but X has been very choppy.

    it’s mostly our shorts that have been doing well lately.