US Steel Loves Goldman Conviction Buy (X, FCX)

Posted in pre-market 
November 30th, 2009

US Steel Corp. (NYSE: X) is trading up this morning after it was added to Goldman Sachs’ coveted Conviction Buy List to replace Freeport McMoran (NYSE: FCX).  At 8:10 AM EST this has shares up almost 4% at $44.72 in the very early indications this morning on almost 75,000 shares.  The volume will increase as the special trading gets closer to the 9:30 bell, but the question will be how much more it can run as futures have not found solid footing yet.  The average volume is 11.7 million shares and the 52-week trading range is $16.66 to $51.65.


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