So IMO there is $8-10 of doewnside risk and maybe $1 more to the upside. I don't like those odds so I will watch from the sidelines.
Look for yourself:
Kamis, 02 Desember 2010
12-02 NUE --- know when to fold them
Over the past several months NUE has presented you with several nice trading ops. But, we have to know when to leave so as not to overstay our welcome. Today I sold my NUE. Why? Because in December two longer cycles top and turn down and this increases the downside risk. The next downturn in NUE could see it drop below the recent $37 support and if it does the low $30s look attainable.
So IMO there is $8-10 of doewnside risk and maybe $1 more to the upside. I don't like those odds so I will watch from the sidelines.
Look for yourself:
So IMO there is $8-10 of doewnside risk and maybe $1 more to the upside. I don't like those odds so I will watch from the sidelines.
Look for yourself:
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