United States Steel: Insiders Vs. Shorts

On September 15, 2013 by admin

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Shorts Follow Comments Following Comments Unfollow Comments The most recent short interest data was recently released by the NASDAQ for the 08/15/2013 settlement date, and United States Steel Corp. ( NYSE: X ) is the #98 most shorted of the S&P 500 components, based on 6.25 days to cover. There are a number of ways to look at short data, but one metric that we find particularly useful is the days to cover because it considers both the total shares short and the average daily volume of shares typically traded. The number of shares short is then divided by the average daily volume, to express the total number of trading days it would take to close out all of the open short positions if every share traded represented a short position being closed. Click here to find out Ten Bargains You Can Buy Cheaper Than The Insiders Did In the case of United States Steel Corp. ( NYSE: X ), the total short interest at the 08/15/2013 settlement date was 41,165,628 shares, which compares to the average daily trading volume of just 6,581,355 shares, for a days to cover ratio of 6.25. When short sellers eventually cover their positions, by definition there must be buying activity because a share that is currently sold short must be purchased to be covered. At the present levels of short interest, if from this point forward every single X share traded represented a short position being closed, then at the average daily volume of 6,581,355 shares it would only be during the 7th trading day that every short position would be closed. So it would stand to reason that should some unexpectedly good news come out, and short sellers did not have 7 days of patience but instead wanted to cover their short positions very suddenly, that situation could result in sending the stock higher until the higher price produces enough sellers to generate the necessary volume to close out those positions quickly. United States Steel Corp. ( NYSE: X ) has something relatively rare for a stock with this much short interest, that being insiders taking the other side of the trade. Looking back over the trailing six month period, X has seen 2 different instances of insider buying, as summarized by the table below: Purchased

Opportunity knocks: The United States could officially qualify for World Cup 2014 with a win tonight against rival Mexico

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Klinsmanns team will make it official with a win tonight, coupled with a Honduras win or tie at home against Panama. Klinsmann badly wants to seal the deal in Columbus and was upset about Fridays loss in Costa Rica , about dropping an opportunity move closer to the finish line there. You do not want to wait, he said. You want to [qualify] at the next possible chance. Knowing what Mexico is going through, but we have to look this purely from our end, and we have got to secure our points, and make sure nobody is getting nervous about it. U.S. Soccer federation leaders leave money on the table by not staging U.S.-Mexico at a larger venue. But smaller facilities allow organizers to better control ticket sales, helping to ensure a pro-American crowd. Plus, theres that increasingly meaningful history; The United States defeated Mexico in Columbus, sometimes famously so, en route to World Cup qualification in 2001, 2005 and 2009. We have history here, and for soccer in our country that not always the case, injured U.S. midfielder Michael Bradley said Monday. So for us to walk into a stadium where there is history, its a special feeling. The people in Columbus, in this part of the United States, they love soccer, they love our team, the love supporting soccer in the United States.

United States Air Force to Ring The NASDAQ Stock Market Opening Bell

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