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NUE None

New Long Plays

Nucor - NUE - close: 34.36 change: -1.70 stop: 24.90

Why We Like It:
A lot of the basic material stocks have been crushed as investors worry over the global slowdown. If we continue to see panic selling then NUE might retest its October lows. Nimble traders could try and short NUE and exit near 28-27. We're going to suggest readers wait for the dip and then buy the stock. Right now our suggested entry point to buy NUE is in the $27.50-26.00 zone. If triggered we have two targets. Our first target is $34.50. Our second target is $39.50.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/22/09 (unconfirmed)
Average Daily Volume: 9.7 million

New Short Plays

None today.

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