In 50 years trading I have never seen the assault on a stock that was put out this week on X.I understand why JPMorgan is bullish and they have 23 million shares .I cannot understand the bearish sentiment that hit all at once..Sure these geniuses were caught flat footed but they must have terrific losses to keep up the negative harangue .S&P I think upgraded from sell to hold which I'm doing and hedging with options .Most of these analysts put out that they have no position in the stock but DON'T disclose what the firms's postion that they represent is. I'll bet at least half of the analysts believe in the resurrection and the rapture. What maroons.
This probably marks the end of the big institutional selling seven times normal volume the buying came in the last hour., I've seen this a lot it should be back in a few days . It's brutal you missby a few bucks on revenue and it really drops
To extrapolate or interpolate where this stock is going is highly unrealistic.. To say there is a rotation away from steel hasn't shown up in the volume yet. BUt to pick a high target of say 25 is just as foolish.Just use options and trade it weekly or daily.There is nothing wrong with covering your short for a profit. --good luck