The E-mini S&P 500 is in the sell zone on the weekly chart. Traders can expect a pullback over t...
The Weekly Whisper from the Dark Pool: US Steel
08/24/2017 2:57 am EST
Hello there, Stefanie Kammerman, the Stock Whisperer, live from San Francisco MoneyShow to tell you the Whisper of the Week from the Dark Pool: United States Steel. And, a recap of past Whisper performance of Freeport-McMoRan in my weekly Thursday video and transcript.
Before we get to this week’s Whisper, we have to talk about the last Whisper. Last week, August 16, I whispered: Watch Freeport-McMoRan (FCX). I love FCX and I really love it above the $15 level. Finally closing above that. My traders have been trading this in my Trading Room. We had some pretty big prints coming in the other day at $15.20, $15.30. So, watch that level. If it can stay above that, we’re good to go.
If you recall, $17.50 was my swing play, and of course, it could go even higher to $20.
So, what are we watching this week?
Well, United States Steel (X) caught my attention. You know why? Because of seasonality. This stock outperforms. Look at this chart going back 20 years, starting in October, you can see X really rallies pretty much all the way to December. Check out this chart, we had some really nice prints coming in at the $24 level. I got into this trade in my live trading room. I love it. $25 is going to be resistance. If she can close above $25, then $27.50 is my first target. And then $30. As you can see from this chart, she could go a lot higher.
If you’re going to be in the San Francisco area, I’m going to be presenting at the San Francisco MoneyShow. I’m going to be sharing all my hottest stock picks with you at the show and of course, how to profit off the Dark Pool.
Come watch me trade all day long in the Java Pit. Happy trading everybody!
Recorded: August 23, 2017
Related Articles on STOCKS
Fed Chair Jerome Powell, former Fed Chair Janet Yellen and former Chair of the FDIC Sheila Bair, hav...
Crude oil is getting a boost on trade deal hopes as well as a week of optimism that global central b...
“IVZ has rallied more than 15% since its Christmas Eve closing low of $15.71, … [and] n...