Carlos Molina :: Swing Trading :: Trading stocks to make money in the market.

March 19th, 2010

S&P RECOMMENDATION ON SHARES OF U.S. STEEL

S&P LOWERS RECOMMENDATION ON SHARES OF U.S. STEEL TO STRONG SELL FROM SELL (Standard & Poor’s) Our opinion change is based on valuation. We continue to estimate EPS of $2.68 in ‘10 and $5.73 in ‘11 and we retain our 12 month target price of $35. On our estimate for ’10’s EPS, X’s projected P/E would be in line with the P/E we apply to its main integrated peer and at a discount to the P/E we apply to its minimill rivals. After a sizable gain in the stock price, we think that X is overvalued relative to all of its peers, now selling at nearly 22X our ‘10 EPS estimate and believe X is vulnerable to a decline on that basis.

Posted in Quickies @|@, Watchlist
By Carlos Molina

February 11th, 2010

Writing a Covered Call on U.S. Steel (X)

Also today, I went ahead and did some covered call on my U.S. Steel (X) position that I am holding since last week (Purchase Priced $47.20). I sold the FEB $48.00 CALL @$1.05 for a net credit of $105 per contract sold. All I need is for U.S. Steel to be under $48.00 to keep the premium. If you want to see some more details about why am I trading U.S. Steel (X), look at my little analysis done over the past week at Watching X Charts

Posted in Open&Close Positions
By Carlos Molina

February 11th, 2010

Another 30% return on U.S. Steel options

I just went ahead and close my position on U.S. Steel (X) @$3.12 for a quick 1 DAY return of 31%. I bought the contract yesterday @2.38, and some other contracts even lower at $2.32. Once again, the dollar is helping with the volatility on the commodities. Today we’re seeing U.S. Steel up 3.5%+ @$45.97 current stock price. I have also wrote a post regarding U.S. Steel (X), check it out in the Tech Analysis category in the main menu, and tell me what you think. Best wishes for your trading day..!

Posted in Open&Close Positions
By Carlos Molina

February 11th, 2010

Watching X charts

Over the past week, I’ve been looking at some sectors that have been beaten by the market; the dollar, the global view, whatever,… you name it. And I have decided to comeback and take a look at a name that has always been in my radar since 2008 when it was flying in the $170 level. Yeah, you got it….U.S. Steel ( X ) .

Posted in Tech Analysis, Watchlist
By Carlos Molina

February 10th, 2010

Watching X Options closely

U.S. Steel (X) @$2.47Ask for the March $46 Call. Once again we can pull the trigger for another quick return. The channel for the past week has been between $42 and $47.50. The EMA20 moving average is going under the EMA50, so be cautious and place a stop at $2.00 if you buy the option, or go LONG and see what happen with the EURO and dollar over the next weeks.

Posted in Watchlist
By Carlos Molina

February 8th, 2010

Buying X March $46 Call

Today, into the close I am opening a position going long with U.S. Steel (X). I bought the March $46 Call for @$2.50

I am long in the stock since last week, and today I am adding to my bullish position that a rebound on metals is near.

Posted in Open&Close Positions
By Carlos Molina

February 3rd, 2010

Open U.S. Steel

Today Feb 3, I bought some U.S. Steel @$47.24.
The dollar has done some really damage to this stock. I still like the fundamentals going into the rest of the year. We can easily see U.S. Steel at the $60 by October 2010.

Posted in Open&Close Positions
By Carlos Molina