Hey, two up days in a row. Maybe, just maybe, the bottom was reached for X on 11/24/15 at $7.50. If you are still long, keep your fingers crossed that it has. Some baby steps forward with news that steel prices are expected to increase next year. Again, baby steps but at least some positive momentum. Not sure I'd want to be short for much longer because with a current price right around cash value per share and a book value at $21, some serious returns can be made over the next 18-24 months. Just hold on baby and keep weathering the storm.
This is now totally under the control of the shorts. If any longs are left, really what do you have to lose by holding at this point? If you give in now, chances are you will never get back in and enjoy the run-up that X will eventually have. Who knows when (one-year, three-years, etc) but a run-up is coming. If you are still long, take a hiatus from watching this stock over the next few months and chances are you will like what you see.