Bryan Leighton's Blog Posts Tagged 'X' (16)

Steel Sector Slumps

The leading steel stocks have really struggled to catch a bid higher since mid-March 2012. Today, is really no exception for the important sector as most of the leading steel stocks continue to trade lower. U.S. Steel Corp (NYSE:X) is considered one of the leading stocks in the industry group. This leading stock is trading lower by 0.30 cents to $25.23 a share. Short term traders can watch for intra-day resistance around the $25.00, and $24.00 levels.



Some other…

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Added by Bryan Leighton on May 15, 2012 at 10:59am — No Comments

Not Made Of Steel

This morning, all of the leading steel stocks are declining despite an early stock market bounce. United States Steel Corporation (NYSE:X) is considered the leading steel stock in the sector. X stock is declining lower by $1.14 to $27.08 a share. Short term traders can watch for intra-day support around the $26.95, and $26.50 levels. The daily chart support for X will be lower as the stock is trading below the important 50, and 200 moving averages.



Some of the…

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Added by Bryan Leighton on April 24, 2012 at 10:30am — No Comments

Steel Could Continue To Melt

This morning, most of the leading steel stocks are trading slightly lower on the session. The important steel sector has been declining since March 19, 2012. The sector still looks as if it can have further downside in the near term before any meaningful bounce can take place. The leading steel stock that most traders follow is U.S. Steel Corp (NYSE:X). Today, the stock is trading lower by 0.41 cents to $28.42 a share. This stock will have some daily chart support around the $27.50,…

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Added by Bryan Leighton on March 29, 2012 at 10:34am — No Comments

Stocks Retreat As Bernanke Bullets Turn To Rubber

The Bernanke Effect is wearing off. Monday, Federal Reserve Chief Ben Bernanke gave the markets a positive statement towards more quantitative easing. The markets roared sharply higher, making new 52 week highs. However, with the markets trading up 30% since the lows of late 2011 it was short lived. In addition, Ben Bernanke has done his best to use every gun in his arsenal to pump the markets based on nothing but added liquidity and hot air. His bullets no longer have a lasting effect.…

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Added by Bryan Leighton on March 28, 2012 at 1:07pm — No Comments

Steel Bends Lower

All of the leading steal stocks are selling off this morning. This sector has been very strong over the past week and today's decline could just be a short term pullback. U.S. Steel Corp (NYSE:X) is considered the leading stock in the sector. This morning, X stock is trading lower by $1.01 to $30.26 a share. Short term traders should watch for intra-day support around the $29.90, and $29.00 levels.



Most other leading steel stocks are also trading lower today.…

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Added by Bryan Leighton on March 22, 2012 at 10:48am — No Comments

Metals Not Confirming Market Strength

The metal stocks have stalled and fallen sharply over the last few weeks, not confirming the market strength. This has to be a warning of possible economic weakness in the coming months. Look at the iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEARCA:JJC) . This topped out in mid January and has since chopped sideways while the markets have gone higher. In addition, stocks like United States Steel Corporation (NYSE:X)  topped out weeks ago and have been pulling back.



The…

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Added by Bryan Leighton on February 27, 2012 at 12:46pm — No Comments

Steel Stocks Refuse To Bend

This afternoon, all of the leading steel stocks are holding up very well. The strength in the steel sector is partly coming from a weaker U.S. Dollar Index. All traders should remember that anything that contains a metal will benefit from a weak dollar. Leading steel stocks such as U.S. Steel Corp (NYSE:X), Nucor Corp (NYSE:NUE), AK Steel Holdings Corp (NYSE:AKS), and Steel Dynamics Inc (NASDAQ:STLD) remain strong on the daily charts. These stocks look as if they could have a little…

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Added by Bryan Leighton on January 24, 2012 at 3:35pm — No Comments

Investors Put On Their Bear Costume For The Day

This morning, all of the major stock indexes are trading sharply lower. The problems in the European Union and the possible bankruptcy of MF Global Holdings Ltd (NYSE:MF) seems to be too much for investors. The real catalyst for today's decline is the strength in the U.S. Dollar Index futures (DX Z1), which are trading higher by 0.94 cents to $76.15 per contract. When the U.S. Dollar Index rallies the major stock indexes deflate and trade lower. Since October 4, 2011 the U.S. Dollar…

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Added by Bryan Leighton on October 31, 2011 at 10:17am — No Comments

Financial Stocks & Industrial Metal Stocks Trade Lower, Which Is Worse?

This morning, the leading financial stocks and the leading industrial metal stocks are declining. These two sectors have been weak since April 2011. This morning, the financial stocks are trading lower after the financial giant J.P. Morgan Chase & Co (NYSE:JPM) reported earnings. Traders and investors obviously did not really believe the results posted by the company. JPM stock is trading lower by $1.53 to $31.67 a share. Other leading financial stocks such as Morgan Stanley…

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Added by Bryan Leighton on October 13, 2011 at 11:12am — No Comments

Heavy Metal Over Base Metals These Days

As you all know, the major stock indexes have soared over the past week. The Dow Jones Industrial Average (DJIA), the NASDAQ Composite, and the S&P 500 Index have all surged sharply higher recapturing their daily chart 50 moving averages. Whenever an index can recapture an important moving average that is usually a sign of short term strength. Here is the problem with this recent rally if we can find one. The base metals still remain very weak.



Leading base metal stock such as…

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Added by Bryan Leighton on October 12, 2011 at 4:08pm — No Comments

Industrial Metals Continue To Inflate

The industrial metals stocks are continuing there winning ways this morning. Since the October 4, 2011 stock market pivot low the industrial metals have soared sharply higher. Leading stocks such as Freeport McMoRan Inc (NYSE:FCX), Southern Copper Corp (NYSE:SCCO), U.S. Steel Corp (NYSE:X), and Cliff Natural Resources Inc (NYSE:CLF) have rallied throughout the trading session. Traders should watch for some intra-day resistance on FCX stock around the $36.00 and $36.75 levels.… Continue

Added by Bryan Leighton on October 10, 2011 at 11:12am — No Comments

Will This Early Rally Fade Again?

Nearly every day the major stock indexes gap up sharply or gap down sharply. The stock market participants are extremely focused on every rumor or word coming out of the European Union. Who really knows what to believe at this point? One day Greece is going to be bailed out again, the next day Greece is going to default. One day Germany says they will bailout the Euro Union, the next day they will not. This news is absolute insanity for anyone that trades off of news or the so called… Continue

Added by Bryan Leighton on September 29, 2011 at 10:24am — No Comments

Futures Off The Lows, Here Is Why

The major stock market indexes have rallied off of the pre-market morning lows. Once again, when the U.S. Dollar Index declines the major stock indexes will inflate and trade higher. The U.S. Dollar Index could be the most important chart for any trader or investor to follow at this time. If, the U.S. Dollar Index can plummet lower the stock market could probably rally. Is this really a sign of a healthy economy and market? The answer to that question is no, however, as a trader this is… Continue

Added by Bryan Leighton on September 23, 2011 at 9:38am — No Comments

Watch This Chart, Things Could Get Crazy

This morning, the central bankers of the world have staged a coordinated effort to provide U.S. Dollar liquidity. In other words, the central banks will try to crush the U.S. Dollar in order to inflate the stock market higher. Traders must continue to watch a chart of the U.S. Dollar Index very closely. Over the past three trading sessions the U.S. Dollar Index has declined sharply causing the stock markets to inflate and stage a three day rally. Simply put, the U.S. Dollar Index is… Continue

Added by Bryan Leighton on September 15, 2011 at 10:16am — No Comments

Master Stock Trading Level Revealed

The markets are lower on fear that the bill to raise the debt ceiling and cut spending will not pass this evening. Many politicians have come out publicly today voicing their displeasure with the bill. After a major gap higher in the U.S. markets, they fell sharply. The SPDR S&P 500 ETF (NYSE:SPY) is currently trading at $128.01, -1.32 (-1.02%).



AK Steel Holding Corporation (NYSE:AKS) is trading at $11.70, -0.45 (-3.70%).  The stock has been hammered since earnings were released… Continue

Added by Bryan Leighton on August 1, 2011 at 2:17pm — No Comments

Till Debt Do Us Part

One minute we hear that the politicians are close to a debt ceiling increase deal and then another minute we hear that they are not. The stock market only cares about certainty. This afternoon, we have seen small buy programs hit the stock market throughout the trading session only to find out it was simply a false rumor that caused the intra-day spike. This tells us that the stock market is just dying to pop higher on any debt ceiling…
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Added by Bryan Leighton on July 26, 2011 at 3:30pm — No Comments

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