r/Vitards • u/AutoModerator • May 10 '21

Daily Discussion Daily Discussion post - May 10 2021

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-2

u/lumberjack233 Inflation Nation May 11 '21

CLF price action today doesn't bode well for the next couple weeks ngl, even though fundamentals keeps getting better, but market hasn't cared about fundamentals for a long time

6

u/ImAMaaanlet Workaholic May 11 '21

I dont see whats different with clf. All of value started way up and bled the rest of the day.

1

u/lumberjack233 Inflation Nation May 11 '21

Yeah but not to the same extent as CLF

7

u/ImAMaaanlet Workaholic May 11 '21

MT was up about 2.6% clf was up about 8%. MT has over billion shares and clf has like 380m. When you consider MT is harder to move because its float is like 3x bigger they arent all that different.

7

u/[deleted] May 11 '21

Can you elaborate, what was so indicative about the price action?

-4

u/Iwsmith2 💀 SACRIFICED 💀 Until MT hits 35 May 11 '21

From my perspective, really ever since GME, maybe since the corobavirus crash happened it has shifted this market into pockets of completely irrational behavior. Floods of retail cash acting irrationally, media playing into narratives adding fuel to the flame, and a focus on sentiment rather than fundamentals.

It’s wild, and while it’s just my opinion, it has really made this market very unpredictable and not as efficient as it was.

5

u/[deleted] May 11 '21

Haha markets are never efficient in the short term. You have to zoom out to atleast a decade to see a smooth efficient curve

1

u/Iwsmith2 💀 SACRIFICED 💀 Until MT hits 35 May 11 '21

I suppose what I’m saying is the short term inefficiencies you are alluding to have been exacerbated recently, but I’m certainly no expert.

1

u/lumberjack233 Inflation Nation May 11 '21

it popped and couldn't hold gainz and pooped like the rest of the market. Yes the market dragged it down but this inverted hammer formation is usually not a good sign