Fast Money's "Parrot number 3": "Oh-ho, it is all bad out there for metals manufacturers, look at (STLD), it is only getting worse, oy vey..."
(CRS) - what they do:
Carpenter Technology Corporation (Carpenter) is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company operates in two business segments: Advanced Metals Operations (AMO) and Premium Alloys Operations (PAO).
Trade PLAN: Within next 2-3 days I would expect (CRS) to move slightly higher, most likely to $16 area, after that it will retreat to $14.50 area were I will start buying it for a longer term trade - many months in duration and I intend to hold it for as long...for as long as trade will continue to make sense.
When trade does not make sense for me anymore? Fair question - here is the answer:
Trade does not make sense when any of these is true:
a. It loses money - more then 5-10%
b. When it is not losing money, but not making it either (that includes "underperforming")
c. generate signal opposite to the one trade was based on
d. will close on weekly chart under $12.64 (that is one of my requirements to this particular trade)
Stop by when you have nothing to do at work - if you have trading carrier in mind - we have Day Trading Chat room at Paltalk:
Chat room address is http://chat.paltalk.com/g2/paltalk/1192843448
At the current time I am evaluating alternate real time chat provider offering more options, more reliable platform, better granular control, desktop sharing etc - this upcoming version of chat will not be open to public - please, if you are interested in participation - please, reply with "expression of interest" (consider cost involved and benefits provided before just blindly replying "interested" and never "enrolling") Test drive "free version" while it is sill open to everybody.
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