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What to do about Nucor

Nucor Corporation and its subsidiaries engage in the manufacture and sale of steel and steel products in North America. NUE is a tough stock to analyze in my opinion.  It is in one of the leading industries in a horrible market, i.e. steel, yet its broken its longer term uptrend.  The company recently announced another common stock offering for $74/share which may have contributed to recent action and high volume trading.  Trading  purely on technicals, I would say stay away.  Then again this could be a decent pullback in a leading stock. Nothing is absolute, so I think if NUE goes 5-10% lower, I think I would dip my toe in the water and see what shakes out.   What are your thoughts on NUE?

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45 Responses to “What to do about Nucor”


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By keith piccirillo on June 2nd, 2008 at 6:53 pm

Nucor would be a great buy today at $70.00.
KenHeebner has it in his Focus fund along with almost 25% of the portfolio comprising 6 steel companies!
C-H-I-N-A? & bric action.

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By Frank B on June 11th, 2008 at 3:43 am

NUE has gone up >40% since January 2008. How much more do you think is in it, given the economy? Time to short this puppy.

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By John on June 25th, 2008 at 10:35 am

Hi Steve,

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John

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By WallStreetTrader on June 26th, 2008 at 10:14 pm

I would ignore the indicators and go purely on price and volume with NUE. The medium term trend is being tested, would’nt call it broken yet. Look at the big volume day on the 23rd - clearly a big sell-off that day. The stock has since recovered some ground but continues going sideways. If I was buying, I’d buy on a break of fresh, all time high and not before. If I was selling short, I would get in if it traded past that $71.00 level. Anyway, much better looking charts out there. Have a look at http://www.sharesmadeeasy.com - a free trader’s blog that highlights entry signals into other strong, trending stocks.

WallStreetTrader

By Steve on June 29th, 2008 at 7:17 pm

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By Jeffrey owns SuckingLess.com on July 9th, 2008 at 2:38 pm

I’m shaky on steels’ fundamentals…yes they increased prices but its due to lower volume…so overall I’m not sure they’re gaining much to the bottom line. However, I think people are reading the whole Olympics effect wrong..China has slowed/stoppedd a lot of production and manufacturing for the past few months to lower pollution. AFTER the olympics, China would likely be eating steel for breakfast, lunch and dinner again. And know this, the Chinese are crazy hard working…they work 6 or 7 days a week…forget the 2 day weekend hoopla!

By Invest Money Lab on July 13th, 2008 at 12:22 am

All MacD, trendline and ADX are showing bearish view. I think counter will dive further. To what extend, look for the next key support as the target.

By Stockerati on July 13th, 2008 at 5:19 am

It’ll be interesting to see how ArcelorMittal evolves to face the challenge of Nucor, given Nucor has big plans to expand through acquistions.

Nucor’s plan to raise about $3 billion in stock and debt offering does give it many advantages. Nucor intends to use the net proceeds from the offering for general corporate purposes, including acquisitions, capital expenditures, working capital needs and repayment of debt.

Nucor’s prime acquisition targets might be SCHN or WOR. Thoughts?

Another stock to watch in a related sector, is Alcoa (AA)

–Stockerati (http://stockerati.com)

By wallstreetmatador on July 16th, 2008 at 3:18 am

seems like a risky play to me

By Doug on August 6th, 2008 at 2:32 pm

What did you guys die over here? When’s the next new post????

–Doug
http://www.tomorrowsnewspaper.blogspot.com

By Stock Market Education on August 10th, 2008 at 12:03 am

Although Nucor looks best buy at this time, risk is also there….

By Ruben on August 26th, 2008 at 6:50 pm

Interesting thoughts on the Nucor stock. I wonder if there is a way to know how successful of a stock Nucor will be for sure though.

What do you think about this free stock analysis service website at http://www.stockcaster.net ? Do you think this service will help investors know how successful stocks like Nucor will be with more certainty?

By James on September 4th, 2008 at 10:29 am

I heard an interesting conversation on a radio show yesterday about the slowdown globally and how it is bringing an end to the commodity bull run. It was on http://www.investtalk.com. This is an interesting site with a lot of information about market trends.

By PW on September 10th, 2008 at 12:14 am

Geez can you guys let us know what the heck happened to you all?

By market folly on September 10th, 2008 at 4:37 pm

damn guess the site died huh? unfortunate

marketfolly.com

By James Noell on September 11th, 2008 at 8:55 am

Is there any truth to the rumor of Sony buying DIVX???

By williams.williams on September 19th, 2008 at 11:04 am

I don’t know about the topic but now days there are lots of websites are offering financial news and help, I know one among of them called easystockalerts.com

By PW on September 22nd, 2008 at 7:10 pm

This site is on a lot of blog rolls yet these guys are ghost. I even sent one of them an e-mail and have not heard anything. Does anyone know them or know what happened to them?

By lane9a5a on September 23rd, 2008 at 11:23 am

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By Chris Hamilton on September 30th, 2008 at 6:47 pm

Hi there,

I tried contacting you a while ago but never received a response, can you please email me so we can discuss my proposal?

Thanks

By this is why on October 5th, 2008 at 11:23 pm

So this is why this site is now dead —

http://www.paidcontent.org/entry/419-bankrate-acquires-bankaholic-for-up-to-15/

johns sold his site for 15mm.
congrats johns.

By Heartlander on October 7th, 2008 at 4:59 pm

Where’s Johns Wu?
His financial blog just sold for $15 Million!
Story:
http://bankaholic.blogspot.com/

By farouk on October 9th, 2008 at 7:11 am

i think all commodities will go further down as a result of the slowing demand and thus steel markets may suffer

By Tim on October 9th, 2008 at 8:52 pm

What is so bad about the charts on nucor? Some sites have them has hitting a stable spot:
http://stocktruth.com/chart.php?symbol=nue

By gotalkmoney on October 10th, 2008 at 12:00 pm

Did not know Johns owned this site as well!

By Traderpro on October 14th, 2008 at 7:23 pm

Hey check out the Traderpro weblog if you are into TA, Elliott wave, or anything trading related:

http://traderpro.wordpress.com/

By Stockpreacher on October 16th, 2008 at 6:40 pm

Nice prediction keep it up thebulltrader

By Tradingmanifesto on October 21st, 2008 at 8:56 am

check out this free blog, he made some great predictions in the last few months..

http://traderpro.wordpress.com/

By Andrew Knight on November 9th, 2008 at 9:57 pm

Hi Steve,

I’m emailing you in regards to an email I sent to you last month about a partnership, have you had a chance to think about it?

If you have any questions or would more information, please advise me and we can go from there.

Kind Regards,
Andrew Knight
Website Manager

By Chris on November 22nd, 2008 at 4:06 pm

This is a good place to see some pretty decent technical analysis and other trading videos…

Great stuff

http://www.youtube.com/profile?user=TradeWithProsDotCom&view=videos

Chris, GoToGuy.com

By Bill B on November 23rd, 2008 at 5:24 pm

I’v been suplementing my portfolio with Nucor for the last 2 mos., What does the techies say about them?

By Suchita Ambardekar on November 27th, 2008 at 2:56 am

Nucor,is good shorting stock.As seen in the graph,the uptrendline,shown in red may act as a resistance line and trendline itself can act as shorting stop.The trendline very well defines the short setting stops.Large volume on breaking uptrend ,reaffirms the weakness in the scrip.

I feel nucor is a good shorting candidate.

By alx on November 28th, 2008 at 10:47 pm

I don’t know about Nucor, I dont think their cash flow is up to par.

http://www.thewallstreetking.com/?p=7

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