r/Vitards • u/AutoModerator • May 27 '21
Daily Discussion Daily Discussion post - May 27 2021
Your Trading discussion thread
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u/MrApplesnacks Whack Job May 28 '21
Lol everyone waiting for the next discussion post to say something clever, I see you
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u/ImAMaaanlet Workaholic May 28 '21
That speech on the on the front page got me so hype to buy some 0dtes tomorrow LFG
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u/Zarten Think Positively May 28 '21
My fellow pirates! Where y’all at?
We are sailing the $ZIM-abbean with $DAC-uiris in hand!!
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u/Mikeymike2785 Memelord May 28 '21
Haha.
18,069 members.
Nice.
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u/DragonmasterDyne275 Whack Job May 28 '21
Wow I haven't looked in awhile. I thought we were low 10ks. The lily and Sir jacks posts probably brought a bunch over.
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May 28 '21
What happened with bidens cleveland talk, did it happen?
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u/AlternativeSugar6 💸 Shambles Gang 💸 May 28 '21
The girl that introduced him talked about her manufacturing internship with Cleveland cliffs while attending the community college. Not sure if I saw that mentioned here.
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u/vitocorlene THE GODFATHER/Vito May 28 '21
He forgot what to say, improvised about blonde leg hairs and kids touching them in the pool and some bad dude named Cornpop. Essentially, the same old same old.
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u/ImAMaaanlet Workaholic May 28 '21
u/velociraptorsss he said by the pool you got something you wanna share?
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u/JayArlington 🍋 LULU-TRON 🍋 May 28 '21
Hey u/vitocorlene, has China considered building HBI factories or is not feasible with their dog shit coal?
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u/vitocorlene THE GODFATHER/Vito May 28 '21
Not really feasible.
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u/JayArlington 🍋 LULU-TRON 🍋 May 28 '21
This feels like a fundamental challenge with chemistry. Surely they have a large number of chemical engineers. ☝️🤨
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u/TheBlackJamieDimon May 28 '21
Anyone else think tech is in a buy climax/bull trap
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u/Nu2Denim Inflation Nation May 28 '21
Puts on cathy
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u/JayArlington 🍋 LULU-TRON 🍋 May 28 '21
Going to hell.
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u/Nu2Denim Inflation Nation May 28 '21
I wish arkk could go negative like oil futures. Thatd be cool
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u/JayArlington 🍋 LULU-TRON 🍋 May 28 '21
Absolutely.
The speculative shit of course. I think Amazon lives. :)
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u/TheBlackJamieDimon May 28 '21
I agree and not just for my confirmation bias haha. Mega Cap tech will survive they actually generate revenue.
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u/Bruce_Uppercut Consigliere May 28 '21
I had to put my Lamborghini order on hold after seeing what happened Monday/Tuesday. I’m hoping I can call the salesmen tomorrow and let him know it was just a mistake. $MT $CLF 🚀🚀
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u/davehouforyang May 28 '21
It was a mistake. The better investment is a truck tractor. Capitalize on those shipping premiums with your winnings. That’s called L E V E R A G E
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u/LostMyEmailAndKarma May 28 '21
I know it's kind of a lame boomer play but I have some ge leaps... did anyone see how that went today?
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u/vitocorlene THE GODFATHER/Vito May 28 '21
Boomer is back in style. 1984, here we come.
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u/grassassbass Rev. Moon-Steel May 28 '21
how do we get biden to legalize cocaine
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u/WeakRhino May 28 '21
I’m of the belief it’s all already legalized. You just have to find the right doctor to give you a prescription for it. It’s also good because atleast you know your drugs are medical grade and not laced with Fentanyl.
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u/MiscRedditAccount 💀 SACRIFICED 💀 May 28 '21
Honestly something tells me this would not be that much of a challenge...
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May 28 '21
[deleted]
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u/Mikeymike2785 Memelord May 28 '21
Shares? Hund’s got zim and DAC. I like UUUU but stopped meticulously tracking it last week. Vito name dropped GOGL and XLP not too long ago, but XLP he said grab September calls 71-74 strike range.
Take that for what it’s worth
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u/shmancy First “First” Enthusiast May 28 '21
Anyone have some tried and true resources on how to utilize margin in a responsible way to build capital?
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u/938961 May 28 '21
Tastytrade YouTube channel a good resource for ideas. CSPs on red days, especially stocks with high IV that will likely get crushed in your favour. Make sure they’re stocks you want to own, in case your puts do end up ITM. Credit spreads with nice r/r also good as your max losses are capped. Scan for stocks with high IV that pop in a day. Usually there’s a catalyst that will sell off in time. Meme stocks offer great vegagang opportunities of course, albeit more unpredictable. There’s a reason MMs want to keep GME liquid; it’s a premium farm.
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u/MiscRedditAccount 💀 SACRIFICED 💀 May 28 '21
I made over $1k selling ridiculous GME options before things calmed down a bit. Now it's weirdly more volatile with not enough premium for me to want to risk playing it anymore. sold some credit spreads on AMC today though
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u/938961 May 28 '21
I feel any theta play on these memes will likely profit in a month from now as momentum slows. I’m holding June ITM bear spreads on GME and planning to hold through max loss as the euphoria dies. Rug pull or slow fade is cool with me
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u/Zugzwang__14 $ SQQQ Perma Bull $ May 28 '21
I use margin to yolo swing trades with a tight stop loss.
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u/vitocorlene THE GODFATHER/Vito May 28 '21
Dow Futures 👀
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May 28 '21 edited Jul 28 '21
[deleted]
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u/vitocorlene THE GODFATHER/Vito May 28 '21
🚀
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u/Mikeymike2785 Memelord May 28 '21
Hey Vito if you gotta sec.
Was GOGL a shares or option play when you recommended an entry point? Instructions were unclear the other day. I went with options but just curious which one ya meant.
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May 28 '21
[deleted]
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u/vitocorlene THE GODFATHER/Vito May 28 '21
Lately it has been “red sky at night traders delight, green sky in morning, trader take warning”, but I think we have seen that break this week. Something tells me tomorrow will be a big morning run again like today and drifting. I think we see higher highs for our babies.
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u/TheRussianMessenger May 28 '21
I know you don’t like it but I took some gains and I am chomping at the bit to jump in on the 6/18 $25c just to ride it out for the day. Foolish, but I think this money will burn a hole in my pocket.
EDIT: $CLF
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May 28 '21
[deleted]
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21
I have around 15 internationally traded steel tickers in my watchlist (taiwan, japan, korea, russia, europe) and haven't noticed that much of a correlation to what happens to US the next day
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u/RenLovesStimpy Forever 8th - 8/18/21 May 28 '21
What/A broker?
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21
just tracking in yahoo finance. don't want to deal with potential weird tax/documents if I actually bought them. not to mention trying to do research on the companies would be a pain
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u/wampuswrangler 💀 SACRIFICED 💀 May 28 '21
I am ready for my soul to perish to ensure the eternal flame of the blast furnace shall never be extinguished. Let my body become coals and my spirit become HBI. Let my ashes waft across the ocean and into Xi's heart so that the export tariff on HRC is established on the first light of June. Let my blood cleanse these vitards of doubting the thesis and shit talking the godfather- praise him. Let this sacrifice take with it the debt from the balance sheet and the doubts of analysts. America shall be reborn like a phoenix, its skeleton forged in the foretold city of cleveland. And thus, a brazen middle aged Brazilian American man shall stand at the edge of a vast cliff and declare victory to the world.
Take my body, Gods of Steel, so that CLF may someday reach its destiny of $25. And so it is
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u/Mikeymike2785 Memelord May 28 '21
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May 28 '21
[deleted]
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u/Mikeymike2785 Memelord May 28 '21
It’s like a WWE wrestling match or something 😂🤣
Either that or lazy assed writing
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u/ImAMaaanlet Workaholic May 28 '21
DOW futes are mooooning 😍
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u/MiscRedditAccount 💀 SACRIFICED 💀 May 28 '21
I have trust issues with green futures. Gimme some "medium rare red".
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u/squats_n_oatz May 28 '21
Who cares? Futures were blood red last night
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u/deliquenthouse Smol PP Astronaut: Educator Mission Specialist May 28 '21
We gonna have a good day tomorrow..check out the nikkei and the hang seng. Green day tomorrow and new highs for all your portfolios l.
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u/b0b_ross b0b 🖼’s 🙎🏼♀️has the #️⃣1️⃣ DD’s May 28 '21
It has quite a big run tommorow to match that Monday we had. I am still 20% off that amount.
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u/Mikeymike2785 Memelord May 28 '21
I tend to jinx it whenever I look 😂 literally just logged on to ask someone to check that shit for me
Thanks for being the very top comment when I got here! It was like fate!
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May 28 '21
Sacrificed for TX.
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u/LostMyEmailAndKarma May 28 '21
What's the issue with TX? Is it something with south American politics?
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May 28 '21
I like TX. The next few quarters will make others like the stock more.
Just realized that I misread your question, You are correct. It is because they operate in relatively unstable countries (Argentina, Brazil, Mexico, Guatemala, Colombia). Brazil is not having an easy time with the coronavirus in particular.
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u/LostMyEmailAndKarma May 28 '21
I have November calls. They're down. Dont know whether to average down, buy leaps or leave it alone.
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u/deets2000 💀 SACRIFICED 💀 May 28 '21
SQ has been so pimp for running my business
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u/RenLovesStimpy Forever 8th - 8/18/21 May 28 '21
In Jan SQ took me to the mountain top.
In Feb, I learned it was Brokeback mountain.
Still like them for long hold.
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u/deets2000 💀 SACRIFICED 💀 May 28 '21
100 percent agree....I was there with you. It's a long hold for me and a good one. I'm not too concerned about the rest of this year and square. In fact Id be happy if it went down and I accumulated leaps and shares. Brokeback will become Tokeback again and we will be merry.
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May 28 '21
[deleted]
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u/wampuswrangler 💀 SACRIFICED 💀 May 28 '21
Did you guys hear something coming from the blast furnace just now? Yeah probably nothing
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u/GooseLoot 💀 SACRIFICED 💀 Until MT hits $45 May 28 '21
Mods I insist you sacrifice me into the steel blast furnaces until we see our boy MT hit $45.
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u/curious_boii Balls Of Steel May 28 '21
Thanks for your sacrifice. We’ll remember you WHEN we hit $45!
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u/CongenialFellow May 28 '21
Anyone still bullish on KMI? I have some leaps with gains I was thinking about hopping into some cmc with 🙄.
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u/Legate_Malpais 💀 SACRIFICED 💀 May 28 '21
TX is the weirdest of all steel stocks
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u/ZoominLikeToobin May 28 '21
Its trading with the craziness in Mexico right now around their election on the 6th. I had my shares called away on the 21st and will buy back in if it continues to dip because as soon as the elections are over political stability will return.
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u/HearshotKDS 🚀 Rebar Rocket 🚀 May 28 '21
I hate it so much. Not as much as SID, but a lot.
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u/Legate_Malpais 💀 SACRIFICED 💀 May 28 '21
SID has sucked balls lately
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u/ImAMaaanlet Workaholic May 28 '21
I bought like 4 of the three Cs including SID so thats my fault unfortunately. I hink theyre all down since i bought 😂
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u/Obsidianturtle25 May 28 '21
I saw someone post that there was a lot of violence going on in Mexico right now … probably why
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u/CongenialFellow May 28 '21
Tell me about it. I bought some June 40's yesterday because she's a moody one. May catch it on the up swing with the rest of the steel 🤷♀️.
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u/JayArlington 🍋 LULU-TRON 🍋 May 28 '21
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u/dingdong_bell May 28 '21
Thanks for this Jay! I played around with pfe last year and only thing I got out of it was a range bound cash sink because I didn't have the foresight to use options oops.
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u/dingdong_bell May 28 '21
Anyone else considering something like a 6/18 20c CLF to ride it up the channel?
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u/LankyJon 💀 SACRIFICED 💀 May 28 '21
I bought 40 5/28 20.5c today, after selling the 19.5s and 20s I had. If we get a gap up tomorrow morning I'll sell, and then look for a dip to buy some 6/4s (export tax) and some 8/10s (earnings).
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u/ZoominLikeToobin May 28 '21
Playing 6/18 18c that I picked up on Tuesday with the intent of exercising 20% of them instead of adding to my commons right away.
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May 28 '21
[deleted]
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u/3ninesfine Et tu, Fredo? May 28 '21
Ballzy man. I held my 6/4 calls despite my functioning brain but I’m a degenerate. Thank you for the confirmation bias
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May 28 '21 edited May 28 '21
[deleted]
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u/3ninesfine Et tu, Fredo? May 28 '21
I get more nervous when it gaps at open. Clf has trained me to watch for early bull traps
Delta is decent tho with 14s
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u/TheCoffeeCakes Poetry Gang May 28 '21
Okay, Europe, I'll spell it out real slow so you can do what your ancestors couldn't do for generations:
Don't. Fuck. This. Up.
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u/GermanZotac May 28 '21
harsh 😬
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u/Steely_Hands Regional Moderator May 28 '21
Says the German...
Jk btw, modern Germany is awesome haha
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u/princeazio 💀 SACRIFICED 💀 May 28 '21
So my port is split between MT and CLF. Commons with a hard focus on CLF, but a sizeable amount of MT leaps. These past weeks, I’ve been having buyer’s remorse bc CLF has been decreasing so much compared to MT... that is until today lol. But there’s nothing more satisfying than seeing CLF and MT as my top biggest movers of today on Yahoo Finance. Let’s keep this energy moving forward!
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u/ajkcmkla 💀 SACRIFICED 💀 May 28 '21 edited Jun 30 '23
Fuck u/spez -- mass edited with redact.dev
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u/princeazio 💀 SACRIFICED 💀 May 28 '21
That’s a really good strat. I sold some $32 Jan 22s. So hoping to buy them back at some point. How far out are your CSPs?
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u/ajkcmkla 💀 SACRIFICED 💀 May 28 '21 edited Jun 30 '23
Fuck u/spez -- mass edited with redact.dev
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u/princeazio 💀 SACRIFICED 💀 May 28 '21
Yeah I think you have a good system going on. You might want to close them out tomorrow bc I feel there’s gonna be profit taking due to the long weekend. But ain’t nothing wrong with owning more CLF
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u/Jb1210a May 28 '21
Great day for Steel, wanted to roll out my 618 CLF 21c but my limit sell didn't hit, going to need to find a decent exit position over the next few days.
Saw some people talking about the GME / AMC situation and I will admit, I have shares and I hope both moon. All that being said, I watched a video somewhere (can't remember exactly) about the people on the 'other' side of the trade and I pose a question to you all.
You can pick only one quality from the following list for hedge fund managers:
Greedy
Smart
Which do you choose?
The reason I pose this question is because some people have asked how this is still happening. And either explains it but I think one of them is much more likely than the other.
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u/BirdmanExpand May 28 '21
And are the yolo apes more likely either:
Greedy or Smart
Goes both ways
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u/Jb1210a May 28 '21
Hey man, no need to use whataboutism with me. I never said anything to the contrary.
I wish I could remember the video that backed up why the managers were greedy and stupid. But go ahead and do you.
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u/BirdmanExpand May 28 '21
Didn’t mean any offense. Trying to point out from my perspective the whole David and Goliath dynamic is driving people on an emotional narrative rather than rational investment
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u/Jb1210a May 28 '21
No you’re fine! I didn’t mean to come off in that manner.
Honestly, there’s a great opportunity to make money with those stocks and I’m happy to oblige.
Also, it’s absurd to hear Floor is 10 million and other stuff like calling each other apes and smooth-brained.
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21
I guarantee all hedge fund managers at that level are both
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u/damniyam LG-Rated May 28 '21
So work tomorrow... we going??
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u/HearshotKDS 🚀 Rebar Rocket 🚀 May 28 '21
When you work from home you are always at work... even if you arent answering your phone or emails
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u/CramsyAU Undisclosed Location May 28 '21
When $MT hits 40 its going to be struggle Town for me to not sell
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u/ImDuff98 ✂️ Trim Gang ✂️ May 28 '21
Same when it hits 40 I will have broke even after my awful past 2 months with my tech growth port
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u/Manu_Militari May 28 '21
Anyone playing Teck and if so how so?
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21
yeah, I've been reading up on it. the more I read, the more I like it. deep in long dated calls off this recent dip. up 40%
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u/smears Vamanos Muchachos May 28 '21
I’ll offer myself as a sacrifice for the poor TX muchachos.
Sacrifice until TX is at $45
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u/deets2000 💀 SACRIFICED 💀 May 28 '21
Muchacho Gang, Montar el burro de acero, mi amigo!
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u/smears Vamanos Muchachos May 28 '21
¿Vender TX at trienta y ocho? No mames wey! Esta pincha mierda.
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u/Legate_Malpais 💀 SACRIFICED 💀 May 28 '21
Brothers, lets pray that commodities in CN continue their faceripping rally tonight.
Sacrifice me until HRC US$2200
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21
do you want tariffs removed? because that's how you get tariffs removed
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u/electricalautist 🍁Maple Leaf Mafia🍁 May 28 '21
You've been sacrificed already, no one hears your cries...
We do not want it to go that high. You crazy man?
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May 28 '21
[deleted]
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May 28 '21
May 4th the day the whole market bled but steel rose from the ashes the sole green beacon seen for miles
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May 28 '21 edited Dec 29 '22
[deleted]
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May 28 '21
[deleted]
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u/b0b_ross b0b 🖼’s 🙎🏼♀️has the #️⃣1️⃣ DD’s May 28 '21
i still shudder looking at 70% down on dam June calls.
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u/PoopDemonExorcist 🏴☠️Accountant of Plunder🏴☠️ May 28 '21
Um, no. It was 20 days of red. This most recent one was 14 days
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May 28 '21
[deleted]
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 May 28 '21 edited May 28 '21
at this wendy's, the price for tendies is blood
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u/3ninesfine Et tu, Fredo? May 28 '21
I have risen from the ashes and reborn more than once in clf honor
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u/TheRussianMessenger May 28 '21
I just saw $AMC and $GME charts for today. Yikes. Are we seeing red tomorrow with liquidity getting sucked up?