Up, down and turn around? In this exclusive preview from Jim Cramer's August Action Alerts PLUS investing call, Cramer said wild trading in Nucor (NUE) - Get Nucor Corporation Report stock is a "poignant reminder of how crazy this market really is."
Nucor's stock is a poignant reminder of how crazy this market really is. We bought the stock all the way down. And about midway through it, some jackal went on Twitter and printed a scatological cartoon of me and savaged me for being so stupid for buying Nucor at $99.
Lo and behold, I check my Twitter feed this morning. And you know what? There was no apology now that the stock is at $122. I guess the guy forgot to apologize, amazing.
All right, I don't think Nucor's done. We will have to go into severe recession for this one to not have pricing power. And with this infrastructure bill, it is in the catbird seat because almost every firm's earnings estimates are too low. If you don't own it, remember, you have a wild trader on your hands. Wait until it dips 2 to 3 points, not this 1 point decline. And then swoop down and get some.