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VIDEOWatch: Steel Holding Strong
Looking for points of entry in NuCor, with an eye on SLX, BHI.
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So far, the action is just fine after a monster break. However, 2 flies in the ointment continue to be the financials, as noted by XLF and IAT. These flickers of red have me on guard.However, keeping the bigger picture in prospective, I continue to like the action in Steel (SLX), and am looking for an entry in NuCor (NUE). I also continue to hold my Baker Hughes (BHI) in the FlexFolio, with an eye on an add as the stock consolidates the recent break.
The key here is to back out the charts and understand just where we are in the bigger picture.
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