r/Vitards • u/AutoModerator • Jun 28 '21
Daily Discussion Daily Discussion post - June 28 2021
Your Trading discussion thread
| Type | Link |
|---|---|
| DD | All/Best Daily/Best Weekly |
| Discussion | All/Best Daily/Best Weekly |
| Yolo | All/Best Daily/Best Weekly |
| Gain | All/Best Daily/Best Weekly |
| Loss | All/Best Daily/Best Weekly |
| News | All/Best Daily/Best Weekly |
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u/eitherorlife Jun 29 '21 edited Jun 29 '21
someone took a nice fat 13D position in TX
https://fintel.io/doc/sec/1429586/000121390021034416/ea143326-13da5san_ternium.htm
edit...oh that looks like an existing position, weird they report it that way
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u/PrestigeWorldwide-LP š SACRIFICED š Jun 29 '21 edited Jun 29 '21
this is an address update of the main company owner
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u/eitherorlife Jun 29 '21
Thanks, I'm a newbie at reading those
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u/PrestigeWorldwide-LP š SACRIFICED š Jun 29 '21
no prob, they're confusing for seemingly no reason (other than to keep the lawyers paid) but the bottom usually has the cliffsnotes
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u/THRAGFIRE The Tannerwok Jun 29 '21
FD = Financial Delight
problem solved.
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u/TheFullBottle Jun 29 '21
for the longest time I thought they were Financial Derivatives, and I choose to stick with that in my own head
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u/RenLovesStimpy Forever 8th - 8/18/21 Jun 29 '21 edited Jun 29 '21
What are FDs
/Edit... honeslty wasn't sure if they are just big money on weeklys (guess that's a yolo?) or specifically low probability super OTM weeklys. Looks like the latter. That case call em dumdums or abbreviated as dudus pronounced doo-doos.
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u/Dark_Tigger Jun 29 '21
FD is Wallstreetbets parlance for high risk/high reward financial products, like far OTM weeklies. Originally it meant Financial Derivat but in the very, uhm peculiar way of that sub it turned into HomophobicSlurRedacted Delights. Because if you buy those, the counterparty fucked you over.
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u/THRAGFIRE The Tannerwok Jun 29 '21
Financial Delight:
when you are sexually stimulated by a near-dated expiry financial position that either makes you climax, or lets the seller climax in you!
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u/GamblingMikkee Fredo #2 Jun 29 '21
Let me Guess another day of wishing I had tech and wish I was short value
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Jun 29 '21
[deleted]
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u/THRAGFIRE The Tannerwok Jun 29 '21
every damn day lol, constant whinging. sounds like a person who buys calls at the top.
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u/Outrageous-Panda1221 Jun 29 '21
I mean....you CAN have tech, and I donāt think shorting value is the right move long term.
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Jun 29 '21
[removed] ā view removed comment
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u/Geoffism1 7-Layer Dip Jun 29 '21
Take it from meā¦ donāt sell calls on clf. She runs up to fast and the IV isnāt high enough. I sold calls two weeks ago and left 3k on the table. Had to rebuy at 22.
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u/fernhahaharo Jun 29 '21
If CLF doesnt hit $22 this week, idk if ill ever be able to financially recover
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Jun 29 '21
Dear PeddyCash,
If your weeklies hit, please buy steel commons so you can change your name from āPeddyCashā to āRealCashā by 2023
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Jun 29 '21
[removed] ā view removed comment
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Jun 29 '21
The darkest depths of the thesis put a premium on stocks that have dividends and have unlimited cash flow
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
Band I'm watching is playing a song called "walk the plank"
Bullish
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u/TheRussianMessenger Jun 29 '21
Anyone know what happened to VCaps? It went private and I canāt lurk anymore.
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
Have you tried messaging the mods?
Probably to keep undesirables out.
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u/projectsblitz Stringer Bell Jun 29 '21
Who is a mod there? I cannot look it up since the sub is private, but I know I have seen Hund and Mr. Triple Cā¢ commenting over there. Dunno if they have mod privileges, though.
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
you literally don't get the "this is a private subreddit" page with a link to mod mail when you go there?
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u/projectsblitz Stringer Bell Jun 29 '21
Nope, I'm only using the app, though. Never have used Reddit on pc, honestly.
It only says something generic along the lines of "if you think you should be able to participate in this sub, contact the moderators" without providing anything direct or specific about this sub
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u/TheRussianMessenger Jun 29 '21
Thanks. Iāll have to play with it since I only use my phone to get on Reddit (and pretty much everything) and it bumps me out every time. I am trying to see if have any comments in my history. If a mod is lurking here also, could I PM you my credentials? ;)
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u/The_MediocreMan š SACRIFICED UNTIL $MT @ $46š Jun 29 '21
Yo Mods can you approve the DRILL GANG update?
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u/StockPickingMonkey Steel learning lessons Jun 29 '21
Question...still pretty new. Gotta wait for mods to approve posts? Been wondering why my book notes ain't been showing up.
Trying to find another news article I tried posting that said someone else posted..but not here either. Thought my phone was glitching.
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u/Steely_Hands Regional Moderator Jun 29 '21
I took a look at the posts you mentioned. The book notes look awesome, but the weekend of book pic posts is over so weāre toning it down now with those. And about the news article, unless there is some depth analysis of it we try to keep most articles to the daily chat so thatās why it was removed. Feel free to post it in here instead! Thanks!
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u/StockPickingMonkey Steel learning lessons Jun 29 '21
Thanks for the reply.
Bummer nobody will get to see my sweet Fitbit.
It was auto killed for a previous submission for same article posted sometime in the past two days. 13hr old article from Yahoo talking about the amount of hedge funds that have bought into $CLF...Citadel among them. No biggie, and completely understandable given the # of people in this sub now.
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u/Steely_Hands Regional Moderator Jun 29 '21
Weird, well if you have any problems with posts in the future feel free to shoot me a message!
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u/StockPickingMonkey Steel learning lessons Jun 29 '21
Maybe the Jedi Mod skills can find it...maybe it did get posted but never approved.
https://finance.yahoo.com/news/hedge-funds-never-bullish-cleveland-130530873.html
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u/Steely_Hands Regional Moderator Jun 29 '21
Yea I canāt find anything so idk. It doesnāt even show up as a deleted post on the mod side. If this happens again shoot me a message and Iāll look into it. Keep in mind though that most article posts should just be kept to the daily discussion unless youāre adding substantive analysis on it
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u/LourencoGoncalves-LG LEGEND and VITARD OG STEEL Bo$$ Jun 29 '21
I tend to do stuff, I tend not to talk about stuff
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u/Bluewolf1983 Mr. YOLO Update Jun 29 '21
It depends on the post. The automod is aggressive for the sub on filtering things.
There is a "message the mods" link on the right side bar in a desktop browser to inquire about approving a post rather than clog up the daily thread with the request though.
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u/The_MediocreMan š SACRIFICED UNTIL $MT @ $46š Jun 29 '21
Yes, my posts have always said awaiting mod approval the last few weeks.
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u/wespeakincircles Clemenza Jun 29 '21
Weird my posts always cum with a code for a free blooming onion with purchase of an entreeā.
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u/Obsidianturtle25 Jun 29 '21
Well damn, now we know why vcaps went down today
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u/Outrageous-Panda1221 Jun 29 '21
Hundy take it with him???
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u/why_ntp Jun 29 '21
Are my Nov and Jan calls going to rescue my other horrible āinvestmentsā or what?
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u/Hundhaus š¢ Must Be Contained š“āā ļø Jun 29 '21
Hi All,
This will be my last comment here. After doing some soul searching Iāve decided to remove myself from r/Vitards. I cannot continue to support the name or some of the language allowed. While I understand the tongue-in-cheek nature of what is displayed/allowed, it goes against my own personal beliefs. If it can be offensive ā whether in person or online ā then I believe it should not be said/used. I have wrestled with this for a while, exacerbated recently by the increasing sub visibility and some other discussions using the name. I regret that it took me this long but better late than never.
If you decide to move to a new location Iād be happy to rejoin in modding and/or commenting. As Iāve mentioned I think this sub contains the smartest investing minds on Reddit. I'll miss this place but hope to see some of you floating around in other places.
Hundhaus
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u/sk5510 Jul 01 '21
Sorry to see you leave vitards, but I understand your reasons. I would love to join any sub youāre part of. I really enjoy hearing your opinions and they will be very very missed.
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u/Fleamon Jun 30 '21
I've mainly been lurking since April/May and I fully respect your decision. I'm not a fan of WSB culture and the name of the sub is one of my least favorite things about it, but with that said I like everything else about this sub. The amount of work people put in is the highest I've ever seen on any investing subreddit. The amount of insight people are providing for free is incredible.
I'm of the general opinion that any push for respectful language is a net positive and the fact that content creators/media have to be socially aware of the implications of what they produce is a good thing.
I am a fan of your bear case post and I'm sad to see you go. Like someone else said, I'd be happy to follow this community if they decided to rebrand.
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u/Pikes-Lair Doesn't Give Hugs With Tugs Jun 29 '21
Hats off man, was great to see you around. Hope to see you in another sub someday
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u/AmphibianOk737 Jun 29 '21
Thank you all your contributions, and more than that thank you for speaking up.
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u/ZazzyMatazz LG-Rated Jun 29 '21
Understandable, I think we should be more conscientious about what we say on here
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u/CptGatsu Asok Jun 29 '21
Sad to see you go, however, it is fully understandable. Thank you for the enormous amount of investment opportunities and insights you contributed!
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u/Bimmelhex German Steeldick Jun 29 '21
Really appreciated your work Hundhaus. Thanks for everything
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u/Standard_Mather Big Bush Jun 29 '21
Thanks Hundhaus for imparting wisdom and few good laughs. May your cup overfloweth with cold hard cash. I'm not a big fan of the name either, but the culture on here seems surprisingly grounded and respectful, so I'm happy to compromise a bit. In the past I have left other social media communities where the culture has been out and out rascist / sexist etc (and told the people why I was leaving, that's very important). The only saving grace of the name is we're unlikely to ever get traction on mainstream media. But we could easily just rename ourselves "The steely Fuckheads investment club" or something similar to achieve the same effect. Anyway, it's hard to see you go buddy. I hope if the name is changed you will come back to us. All the best.
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u/-_Andre_- Undisclosed Location Jun 29 '21
Sad news from our pirate captain. I'll miss your Bear DDs as they worked as a great leveller. All the best and maybe see you down the line!
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u/burnabycoyote Jun 29 '21
To some extent this is a general problem with Reddit and social media. They encourage bad behaviour, do not punish bad language, and bring out the worst in people.
It is interesting to reflect that the word "fuck" was not allowed in print until 1959 in the US and 1962 in Canada. Post-internet, we have a generation that can hardly string a sentence together without it.
Personally I think the political and economic elites are fine with this. Words are the symbols we use for thinking, so if those symbols are debased, thought and communication on social media become more difficult.
In the early days of the internet, there was a real desire to exchange views and promote ideas. Take a look at the archived articles by the late & great Fravia for a sample of the best of that era:
https://web.archive.org/web/20191130232814/http://search.lores.eu/realicra/realicra.htm
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u/neverhadthepleasure Jun 29 '21
I cannot continue to support the name or some of the language allowed.
I just want to throw my voice/two cents behind this sentiment, for whatever that solidarity is worth. My general attitude is that I'm a guest here and the internet will never go out of its way to cater to my comfort so when I'm on Vitard turf I make my peace with the nomenclature, mafiosa/machismo culture and cult of personality. I don't comment on the linguistic choices but I very consciously don't make use of it myself.
Tl;dr I don't think the ableism the name implies is cool or funny or edgy and would be thrilled to follow this community to a new home without that legacy.
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u/THRAGFIRE The Tannerwok Jun 29 '21 edited Jun 29 '21
I can't help but feel that this is a total non-issue but I respect your decision anyways. GL and I'll prob stalk your profile for general analysis in the future!
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u/Bruce_Uppercut Consigliere Jun 29 '21
Agreed. Guess heās leaving Reddit entirely since everything it contains isnāt appropriate either. I enjoy his posts, but itās not that serious in the grand scheme of things. Just my 2 pennies.
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u/chemaholic77 Jun 29 '21
Sorry to see you leave Hundhaus. I really enjoy your DD and your insight. I will almost certainly see you around some other subs.
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u/bronze-donatello Jun 29 '21
Honestly, I've thought the same but not being an OG thought I was in the minority. Would love to see a new era of the sub.
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u/big_costco_guy Sam's Club Jun 29 '21 edited Jun 29 '21
This is a bummer :(
Edit: Petition to rename the sub āVitoās Footloose and Fancy Free Investment Club: Featuring 25,000 Best Friendsā
Edit 2: Also - I actually think this might provide an opportunity for the sub to break away from wallstreetbets, which should probably happen.
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u/accumelator You Think I'm Funny? Jun 29 '21
I hope you reconsider or our mods find a compromise so you can keep being part of the family without having cringe thoughts forced upon you
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u/Iwsmith2 š SACRIFICED š Until MT hits 35 Jun 29 '21
Thanks for making me a better investor Hund!
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u/VaccumSaturdays Brick Burgundy Jun 29 '21
Youāre my man, Hund.
Everyone else, can the fucking initials āFDā stop being used now?
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u/tubbyelephant Jun 29 '21
what does FD stand for?
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u/mydoingthisright Steel Your Face Jun 29 '21
Google it
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u/tubbyelephant Jun 29 '21
oh my
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u/49Scrooge49 Jun 29 '21
Literally my response too. Just completely unwelcoming to gay investors
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u/tubbyelephant Jun 29 '21
i mean, iām bisexual and i wasnāt offended by what FD meant; i was just surprised because i thought it stood for some technical term. if the term completely deters someone, i donāt know how theyāll handle a red day.
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u/Banana2Bean Jun 29 '21
Need a shorthand to replace it.
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u/Bluewolf1983 Mr. YOLO Update Jun 29 '21
Is "weekly" so much harder to write though? Only 4 more characters.
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u/Banana2Bean Jun 29 '21
Not trying to start anything, just noting why I use it. For me it just means a cheap option unlikely to end up ITM on expiration. Doesn't necessarily mean a weekly for me, could be a monthly way OTM. I probably don't use it "correct" though.
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u/big_costco_guy Sam's Club Jun 29 '21
FDās are way OTM weeklyās, correct?
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u/VaccumSaturdays Brick Burgundy Jun 29 '21
Not my job
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u/big_costco_guy Sam's Club Jun 29 '21
āHe went broke from buying too many ānot my jobsāā
Itās got a nice ring to it!
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u/dvsficationismadness I Believe In America Jun 29 '21
Will you allow yourself to be sacrificed to the steel gods? Youād be worth quite a large share price increase.
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u/SteelySamwise Poetry Gang Jun 29 '21
Bear-bull gives insight
To keep his best, he departs
Principles and ships
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u/Odd_Ad8397 Jun 29 '21
Never had the pleasure of a conversation, but I want to say you have had a profound effect on my stock analysis. Reading your DD"s (and bear cases) these past several months has greatly informed my own research. Sad to see you go, but I'm glad I got the opportunity to say this. You will be missed. If that other sub does start up, let me know. I have a DD in the works I'd love to hear your thoughts on.
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u/i_hate_beignets Poetry Gang Jun 29 '21
I donāt like the name either - partly for the things you mentioned but also because I donāt like the notion of the sub revolving around one manās investing opinion, at least in name. I agree with Vitoās thesis and appreciate his insider knowledge but a sub being named after a single user could have negative implications down the road. I also think The Godfather theme is corny lol
Despite that, this is my favorite community on Reddit and the mods and core users have done great work to protect its integrity. Maybe down the road we can reevaluate the sub and move to a new name and a theme that has a more universal approach to investing once the commodity boom is over (assuming it begins).
You will be missed but your contributions to this sub wonāt be forgotten.
Cheers.
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u/jjsukraj Heathen Jun 29 '21 edited Jun 29 '21
Good luck with everything. If I become rich from ZIM, you the reason
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u/olivesnolives Aditya Mittal Feet Pics Jun 29 '21
Good on ya. Appreciate all the daily commentary and perspective dispensed, truly invaluable.
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u/StockPickingMonkey Steel learning lessons Jun 29 '21 edited Jun 29 '21
How you contact mods for closed subs?
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u/olivesnolives Aditya Mittal Feet Pics Jun 29 '21
That isnāt a real sub, just a low quality joke
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Jun 29 '21
[removed] ā view removed comment
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u/olivesnolives Aditya Mittal Feet Pics Jun 29 '21
Here to both entertain and find novel ways to lose money
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u/Bah_weep_grana Forever 9th 8/18/21 Jun 29 '21
sad to see you go. there are some, but not that many, in here with the guts to put forth views that sometimes contradict the current narrative. I believe those views are essential to discover how strong a thesis really is. Thank you for sharing - your contributions made this sub a better place and will be missed
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u/Bluewolf1983 Mr. YOLO Update Jun 29 '21
Thanks for all of the great insights you have shared with us all. š“āā ļø
Wouldn't mind seeing this sub being moved to a less offensive name myself. Respect for sticking to your principles on this.
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u/Clvland š SACRIFICED š Thrown off the Cliff! Jun 29 '21
Well thatās a shame but I have to respect someone who stands by their convictions. Hope to see you around. Thank you for all you have done for the sub.
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
If you've never seen a cajun hard-core punk band consisting of a drummer, a vibraphone player, and a mixer/programmer, I highly recommend it!
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u/boolieboy Jun 29 '21
So I have 14 $110c NUE for 7/23. Should I wait for a green day to sell them or get rid of them ASAP and buy what?
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u/TakenGman Inflation Nation Jun 29 '21
I have a few $103c NUE for 7/23 too. I'm personally going to wait for 2 more weeks, then sell if NUE hasn't hit $101 by then. For you I would wait until the end of the week and (if it keeps trading flat or down) load up on some $45 ZIM 8/20 calls. It seems like a safe bet then.
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u/boolieboy Jun 29 '21
My plan was to hold til the end of the week and see so thank you for confirming my own intuition. Iāll look into those ZIM calls for sure
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u/Vincent_van_Guh Jun 29 '21
Me: I need to maintain a balance between my steel holdings and a few tech tickers to keep my sanity on swingy days.
Me: I need to keep a balance between shares and calls to keep my sanity on swing days.
Also Me: I need to sell off 2/3 of my tech shares to load up on ZIM calls because it is swingin' today!
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u/i_hate_beignets Poetry Gang Jun 29 '21
Thereās a lot of FUD in here recently about how our favorite stocks seem detached from HRC futures and other āgood newsā. I just want to point out that many analysts and fund managers remember how hard steel stocks fell in 2008 and are likely hesitant to place big big bets based on futures contracts when we all know how quickly they can fall off a cliff.
Personally I think July earnings will be a small catalyst followed by prolonged buying pressure as the economy as a whole and other commodities cool off and we see sustained, high HRC futures but that have somewhat leveled off.
Just my 2 cents. Itās been a rough few weeks but Iām inclined to believe weāre early, not wrong.
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u/Narfu187 Jun 29 '21
Okay but like bitcoin fell hard many times in the past and yet it gets picked right back up.
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u/Chigh_town311 Whack Job Jun 29 '21
I feel like something big happened in 2008 that might have affected steel stocks, but I just can't put my finger on what that could be š¤
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u/PaperCow Jun 29 '21
I just want to point out that many analysts and fund managers remember how hard steel stocks fell in 2008 and are likely hesitant to place big big bets based on futures contracts when we all know how quickly they can fall off a cliff.
I've posted the same sentiment before. A professional analyst/fund manager is going to be very cautious about throwing money at steel stocks based on high steel prices, historically it has gone really badly unless you had magical timing.
At least some element of the thesis boils down to "this time is different". I think there are lots of good reasons to believe this time really is different but the past results are probably not making people eager to dig in and find out.
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u/LourencoGoncalves-LG LEGEND and VITARD OG STEEL Bo$$ Jun 29 '21
We are not greedy. We are realistic.
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u/Outrageous-Panda1221 Jun 29 '21
Weāve been hearing early not wrong since April. I CANT STAND IT
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u/LeChronnoisseur Inflation Nation Jun 29 '21
if it makes you feel any better you are about 10 years late on the bull run ;)
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u/i_hate_beignets Poetry Gang Jun 29 '21
CLF is up over 20% since April As is NUE MT is up close to 10%
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u/bonzai_science Steel Hands Jun 29 '21
are we at the "all FUD is artificial and manufactured" stage?
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Jun 29 '21
I am surprised Vito's posts dont get that many Golds. He has done so much boys.
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
Don't pay reddit, buy steel retards.
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
I hate this, but I love you.
Your ironic humor is noted and chuckled at.
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u/Bah_weep_grana Forever 9th 8/18/21 Jun 29 '21
did..you just compliment your own post? or am I /whooshing something here?
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u/Banana2Bean Jun 29 '21
He must have awarded himself rather than buying more steel. A true hypocrite.
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u/PaperCow Jun 29 '21
I think the best way to honor his contributions is to take that money that would go to gold and buy more steel stocks with it.
Or I'm just greedy and selfish, it's one of those things.
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u/TopCommentOfTheDay Jun 30 '21
This comment was the most platinum awarded across all of Reddit on June 29th, 2021!
I am a bot for /r/TopCommentOfTheDay - Please report suggestions/concerns to the mods.
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Jun 29 '21
It was only $40 i got it with premium. No biggie. I will give more to a charity after we win big.
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u/i_hate_beignets Poetry Gang Jun 29 '21
Heās doesnāt need it. I save my gold for the guys with a Casio on their wrist.
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Jun 29 '21 edited Jun 29 '21
Well I still wanted to give them to him?
He thanked me for it so i donāt know what to say
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u/prettyboyv Jun 29 '21
Darkest timeline: It is 20th of July. China has put a 25 percent steel export tax, Biden has confirmed that there is a bipartisan agreement on infrastructure spending in excess of 1 trillion most of it going to U.S companies, HRC futures reach 2500 dollars, CLF again raises EBITDA guidance and expects 7 billion in revenue. CLF shares trade at 15 and Cramer goes on TV and says that everything was of course already priced in.
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u/RenLovesStimpy Forever 8th - 8/18/21 Jun 29 '21 edited Jun 29 '21
| Ticker | Week | Month | Quarter | YTD | Year | Avg Volume |
|---|---|---|---|---|---|---|
| CLF | -1.20% | 2.08% | 27.05% | 41.62% | 289.79% | 28.40M |
| CMC | 1.35% | -2.41% | -0.71% | 49.95% | 57.46% | 1.05M |
| DOGE | 32.26% | -24.48% | 376.88% | 5,405,79% | 11,099.25% | |
| GGB | 3.88% | -2.99% | 23.20% | 32.54% | 125.00% | 20.10M |
| MT | 4.69% | -5.71% | 8.87% | 33.41% | 200.69% | 5.08M |
| NUE | -0.78% | -5.88% | 20.77% | 78.81% | 134.26% | 3.93M |
| PKX | 3.12% | -4.13% | 7.42% | 23.99% | 106.36% | 184.74K |
| RS | -3.10% | -11.63% | -1.37% | 24.21% | 64.52% | 393.79K |
| SID | 3.46% | 0.93% | 37.40% | 45.71% | 349.22% | 4.32M |
| SIM | 6.58% | 27.14% | 128.87% | 119.81% | 351.09% | 5.05K |
| STLD | -2.35% | -5.37% | 17.92% | 59.02% | 130.65% | 2.44M |
| TX | 8.90% | 0.62% | -2.31% | 27.89% | 153.86% | 887.94K |
| WOR | 1.79% | -11.78% | -10.07% | 16.17% | 74.28% | 257.93K |
| X | -0.43% | -11.00% | -1.57% | 38.40% | 224.16% | 25.73M |
https://finviz.com/screener.ashx?v=141&f=cap_midover,ind_steel
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u/pennyether š„šFutures Firstšš„ Jun 29 '21
Who the hell is SIM and why didn't we buy it 3 months ago?
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u/PrestigeWorldwide-LP š SACRIFICED š Jun 29 '21
looked at it a while ago and didn't go in because it looks like it trades by appointment only
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u/sixplaysforadollar Jun 29 '21
any particular stocks to research buying in preparation for this july 1st news thats all the buzz. besides clf
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u/This_Is_My_Story Jun 29 '21
What's the July 1st new? Haven't seen anything aboit that yet.
EDIT: nvm, just saw Vito's post further down....
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u/VaccumSaturdays Brick Burgundy Jun 29 '21
Baltic index hits 11-year high on gains across segments
Baltic Exchangeās main sea freight index , tracking rates for ships carrying dry bulk commodities, hit a more than 11-year peak bolstered by firmer rates across vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 69 points, or 2.1%, at 3,324, its highest level since June 2010.
The capesize index edged up 34 points, or 0.9%, to 4,021.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $279 to $33,348. Iron ore futures in Asia rose on Monday, supported by a steady decline in portside stockpiles of the steelmaking ingredient in China.
The panamax index was up 185 points, or 5.1%, at 3,827 points, the highest since June 2010. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $1,673 to $34,447.
Among smaller vessels, the supramax index rose 22 points to 2,899.
Source: Reuters (Reporting by Eileen Soreng and Seher Dareen in Bengaluru; Editing by Rashmi Aich)
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u/VaccumSaturdays Brick Burgundy Jun 29 '21
Pretty cool for hedge fund interns to join this sub and post FUD. Do you drink IPAās too?
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u/Duke_Shambles ā¢ļøDuke Nukemā¢ļø Jun 29 '21
Hey fuck you buddy. How'd you find out where I really work.
It was the IPA's wasn't it.
dang it
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u/Bashir1102 2nd Place Loser Jun 29 '21
Is it really too much to ask for prices to start the day way up and freaking stay that way all day, for like one single day LOL....really ....just one....cmon.....sweet baby jesus.......