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Two Ways To Play: AK Steel Raises the Bar, Again

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Strengthen your portfolio in good times and bad.

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AK Steel Raises the Bar, Again.

AK Steel (AKS) has announced price increases for its carbon steel products. The West Chester, Ohio-based steel-maker said it will raise prices for its hot-rolled products by $20 per ton. Base prices for cold-rolled and coated products will go up by $30 a ton.

The increases will go into effect by January 1, 2010. It's the second time in three months the company has raised prices.

From the Bull Pen: As previously mentioned, AK Steel wouldn't be doing this if the demand wasn't there. But continue to look to the steel ETF (SLX). In the short term, those playing it can set a sell stop below $55.

From the Bear Cave: Remember, it's Freaky Friday, always a tough day for bears. But one can look to the financial ETF (XLF). This group has been a laggard for the past three months. The inability to get above $15 resistance is a bearish sign so watch for an entry near that level.

A Quick Check around the World

Asian trading closed with the Nikkei -0.54%, India 1.41%, Hang Seng -0.83%, Shanghai -0.37%, and Taiwan -0.99%.

Across the pond, we see the FTSE -0.01%, CAC -0.01%, DAX 0.08%,

As of 8:20 AM EST, S&P Futures are trading -7.25 to 1087.00. Nasdaq futures are -10.25 to 1760.00.

A Look at Commodities

Over in commodities, crude oil is -1.00 to 76.46 while gold is -7.400 to 1134.50 this morning. Silver is -0.35 to 1810.5 and copper -1.950 to 306.15.

The dollar Index is +0.5600 to 75.9300.

Nothing on today's trading radar. Good luck and have a great weekend.


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No positions in stocks mentioned.

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