Monday, July 26, 2010

OVER $X - tended ~ United States Steel Corporation (Public, NYSE:X)

up 20%+ in 5 days, 30%+ in less than a month ... "too much, too quick."

1) piercing top of Bollinger Band
2) 200 sma resistance above
4) overbot on SLOW stochastic
3) fundie = high DEBT level

the AUGUST 48 "earnings roulette" $PUTS of POWER!

August 21st 2010 
PUT  @ $2.17-0.14 (-6.06%)

p.s. the $3 dollar hommies? $SPF, $BZH, $HOV (all were in the $3s, now in the $4s) ... sold 1/2 $SPF today @  $4.00 *must take profits*


BUY ON THE DIP said...

SOLD TODAY: (cash raise)

all Sprint $S 5.05+0.36 (7.68%) ...held for 2 months, broke even. meh.

closed ALL $BIDU 80 calls, nice win.
sold a bunch of common @ $80.80, ...still holding some leftovers

BOT TODAY: $DNDN .. spec play

BUY ON THE DIP said...

NEW YORK (AP) - United States Steel Corp. on Tuesday posted a second-quarter loss, although it was smaller than a year ago as sales more than doubled.

US Steel expects to post a third-quarter profit, but the company, based in Pittsburgh, says operating results will fall from the second quarter because of declines in orders from spot market customers.

Shares fell about 4 percent in premarket trading.

The company makes steel products for use in everything from appliances to cars. Its second-quarter loss was $25 million, or 17 cents per share. That compares with a loss of $392 million, or $2.92 per share, a year earlier. Excluding one-time items, it reported operating income of $198 million.

Excluding financial costs and a foreign-currency loss, US Steel made 45 cents a share.

Sales more than doubled to $4.68 billion. Operating expenses nearly doubled as well.

Analysts polled by Thomson Reuters forecast adjusted earnings of 63 cents per share on revenue of $4.63 billion.

For the current quarter the company said lower shipping and production volumes for its flat-rolled segment, where it makes products ranging from stainless steel refrigerator doors to retail shelving systems, hurt results. Shipping and production is being dragged down by slower order rates, due to seasonal weakness and changes in inventory.

BUY ON THE DIP said...

-3.12 (-6.38%)

.... must take profits!

50%-75% win!!!