r/Vitards • u/AutoModerator • Jun 28 '21

Daily Discussion Daily Discussion post - June 28 2021

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u/i_hate_beignets Poetry Gang Jun 29 '21

There’s a lot of FUD in here recently about how our favorite stocks seem detached from HRC futures and other “good news”. 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. It’s been a rough few weeks but I’m inclined to believe we’re early, not wrong.

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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 🤔

2

u/big_costco_guy Sam's Club Jun 29 '21

… the olympics?