Monday, December 04, 2006

Steel Continues To Rally

The steel stocks were one of the strongest groups today... The STQ ( Steel Producers Index) closed up 4.11%. In the above chart you can see that NUE made a new 52 week high today and X is about to breakout.. Watch X tomorrow for a possible move above the 52 week high with an expanded trading range and hopefully heavy volume. The steel stocks are one of the groups I've been very bullish on...I think oil and gold stocks will eventually do the same and make new highs as well.

Posted by Kevin

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