Wednesday, December 9, 2009

U.S. Steel Breaking Out

After what as been a weak last 4-5 days in the materials sector, its interesting to see that U.S. Steel (X) closed at recent highs. Some bullish news from the demand in China helped. Now X did trade at around $50 back in September so that will be the next resistance area before we have a major breakout. Its important to remember that X traded at $180 last year so its still some 60% below that high.

X is one of our larger holdings in the Growth Portfolio.


2:07PM U.S. Steel notches a fresh session high of 46.30, hovering slightly under its Dec/two month high at 46.40 (X) 46.27 +2.04 : (closed at 46.74)


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