6 Trades to Double Your Money by the End of Summer
OptionsZone Experts, July 4, 2009
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United States Steel (X)
By John Lansing
The steel and iron industry is a strong sector with a lot of bullish potential during this summer. So take a look at United States Steel (X).
Now, X does have to overcome resistance near the $42 level, but I fully expect it can do that sooner rather than later. Think of resistance levels as brick walls. Every time a stock hits the resistance, it takes another chunk out of the wall, so that it's left weakened. All X needs is one good hit to punch its way through.
The best trades in X are the $40 strike calls, whether you choose to play that more conservatively with the September calls, or take on more risk with the August options. My short-term target for X is $50.
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