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Steel is in play: AKS

By David Randolph · June 16, 2005 · 1 min read · 642 views

MY filter today got me just 1% of the 11000 stocks on my stock charts database and many stocks were steel related stocks. I see the sector is in play so there's a macro story behind this move. I don't know which stock will appreciate the most but I choose AKS because this is not the first time her chart comes to my attention:

We've had a steep decline that is now over, at least for the short term. This stock has everything in place to rebound from this base ... if it doesn't something's wrong with the stock, because the sector is strong at this moment (I don't believe AKS has any stock specific problem because all the sector was down in the last 3 months - down a lot). It is time to rebound, so I'm buying AKS at the open.

Everyday I will analyze AKS after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.

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Steel is in play: AKS

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