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Nucor Corporation Message Board

  • strom2000 strom2000 Nov 28, 1997 10:46 PM Flag

    Why the recent down draft?

    I moved into NUE to diversify out of the tech sector. Unfortunately, NUE will begin to shine and then drop like a rock. I tend to purchase each time it drops below $50. What is going on with this stock and why the price action?

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    • If I knew what was going on,I would
      have sold it the last two times it
      went to $44.00+ and sit back and bought
      it again in the $40.00 range.

      The only reason I didn't sell was because
      I felt it was headed back to $49.00+.

      This seems to be a pattern for stocks I buy,
      they cause this frustration of up and downs
      I sell on the third bounce and the SOB goes
      up another 10-15%.

      If NUE hits $44.00 again soon,I'M OUT!!

    • I was a tech analyist for a few years and have not given up on that sector. Be selective, but NUE is a good solid performer. A member of our stock club has owned it for a LONG time and done very well. Keep an eye on earnings and I think we will be OK. I own NUE as well but am very heavy in the techs. We will always need the Intels and what it takes to build hardware. Electronics will never go away.
      Frank

    • Nue has been weak due to falling steel prices. However, I think the stock is bottoming and should rebound to 60+ before long.This stock along with a few other steels are very inexpensive.

 
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