Among losers, AK Steel (AKS), was downgraded by Goldman Sachs to sell from neutral.
Ak Steel (AKS) was actually set up to run in the very early part of November.
"I am totally against this, it's bordering on irresponsible, " says Chicago toxicologist Steven Aks .
Other competitors in the basic materials sector include: Steel Dynamics (STLD), AK Steel (AKS), and US Steel (X).
" Never in my life have I heard their growling r's, as in "Excurrrse me, I need to aks a qurrrrstion.
Even Wall Street has its doubts about AKS, as nine of the 12 analysts following AKS rate it a "hold" or worse.
Tomorrow before the open we will see AK Steel (NYSE:AKS), US Steel (NYSE:X), Peabody Energy (NYSE:BTU), EMC Corp (NYSE:EMC), and JetBlue (NASDAQ:JBLU) among others.
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Professors Aks Zaheer, Exequiel Hernandez and Sanjay Banerjee from the University of Minnesota examined such alliances-turned-acquisitions and assessed how the stock market responded to their announcements.
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In fact, given that both AKS and X have entered technically overbought levels in bear market territory, the potential for renewed selling and short selling here is greater than average.
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Because of this, any weakness in NUE will likely prove more rewarding to buyers of weakness and sellers of strength than a pullback in AKS or X, both of which continue to trade in bear market territory.
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Among the largest underlying components of XME, in trading today United States Steel Corp. ( NYSE: X) is up about 0.7%, AK Steel Holding Corp. ( NYSE: AKS) is up about 1.3%, and Cliffs Natural Resources, Inc. ( NYSE: CLF) is higher by about 1%.
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