Quick Win by the Algorithm

On December 18, 2015, the I Know First algorithm had predicted a bullish forecast for United States Steel Corporation (X). X had a signal of 99.75 and a predictability of 0.57. In accordance with the algorithm, the company reported long-position capital gains of 373.34% experiencing a quick win by the algorithm.

United States Steel Corporation (X), operates as an integrated steel producer. The Company manufactures flat-rolled and tubular products with production operations in North America and Europe. United States Steel serves the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.

Earlier in 2016, oil prices began to rise, which the I Know First algorithm correctly predicted, which then led to increases in other commodities, including steel. Oil price has an influence on other commodities because there is more investment into production and energy, which leads to more construction. On November 22, 2015 the I Know First algorithm predicted bullish returns on SPDR S&P Metals & Mining ETF (XME). XME directly corresponds to the metals and mining industry, further driving increases for X.

Also, in the last few months, we’ve seen a presidential election that brought Donald Trump into power. Since his win, steel industry stocks have seen large growth as Trump’s continuous rhetoric of investment in infrastructure within the United States during the campaign presumes large contracts for the construction business and thus also steel manufacturers. With the promises Trump made, the industry benefitted heavily. The market, however; has finally settled down and now is the time to sell X to make a nice profit.

More information on the Trump win and the influence on steel can be found here.

This bullish forecast on X was sent to current I Know First subscribers on December 18, 2015. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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