While the markets have been pounded of late, there are always some hidden gems that somehow find a way to have minimal downside in an otherwise ugly bloody mess. BlackRock, Inc. (NYSE:BLK) is as strong as a stock can be today, considering the market. I wrote an article on it yesterday, mentioning the massive support level on the weekly and monthly charts. Even with the massive sell off yesterday, BLK was barely down by the close. Today, the stock is higher by $3.09 (+1.75%). This stock continues to be a jewel among rocks as the monthly and weekly charts signaled.
Another jewel continues to be one of my favorite plays for the last few days, AK Steel Holding Corporation (NYSE:AKS). I sent an alert yesterday to my Research Center subscribers yesterday morning when AKS was trading at $15.75. This was before the DOW plunged 1000 points. The stock held up well considering the mini crash and closed lower at $15.46. Today, just like suspected, AKS is surging to the upside, trading at $15.85 (+2.50%). It continues to look attractive in the short term at these levels.
I have been moving to a short term bullish angle on the metal stocks as a whole and am being rewarded as are the members at InTheMoneyStocks. United States Steel Corporation (NYSE:X), Cliffs Natural Resources Inc (NYSE:CLF) and Southern Copper Corporation (USA) (NYSE:SCCO) are all higher on the day.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
