Trimming Nucor (NUE) Stock Position

In this video I talk about my Nucor position I initiated at the beginning of 2021 and why I'm trimming it down and taking some profits. I think the elevated steel pricing won't last forever, so I want to take advantage of these large run ups in steel stocks and lock in gains just in case they increase the supply and take the pricing of hot rolled steel back down.

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Disclaimers: Because the information herein is based on my personal opinion and experience, it should not be considered professional financial investment advice or tax advice. Sponsored affiliates are: Webull, Public, Coinbase or otherwise acknowledged!

[MainStreetWolf]

Steel update from me. While the pricing is elevated and everything looks amazing, most people are thinking that now...It seems like Nucor is trading a little pricey now sense everything seems rosy. I’m holding a small piece still, but I’m not gonna buy at these levels. The steel industry tends to get excited when pricing is this high and they create way too much capacity which destroys this elevated pricing. Then there is too much supply...steel industry tends to be cyclical so it it’s more of a trade then an investment you buy and just hold forever.