Advancing a Thesis; Chess Moves

Along the same lines as the coals catching a bid for a snapback rally, and per my earlier long in BTU, the steel names could easily participate in a rally for the global materials players.

As a result, I went long AKS just now, at $4.52, with a protective stop-loss below $4.30. This is roughly 4% of my trading portfolio capital. 

Much like BTU, this is a heavily-shorted name which has been beaten-down. It could easily stage a relief rally and short squeeze to that upper Bollinger Band, seen on the daily chart, below.

Also note, just like BTU, we have a potential bottoming formation highlighted. And just as with BTU and the coals I am not looking to make a hero call for a multi-year bottom--A tradable rally will suffice.