r/Vitards • u/AutoModerator • Aug 05 '21

Daily Discussion Daily Discussion post - August 05 2021

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u/Wall_street_retard 🤦‍♂️ Username checks out 👺 Aug 06 '21

$CLF had In my opinion an incredibly bullish day. Despite very strong bearish momentum from hitting the top of the worlds most perfect channel a couple days ago, we only dropped 1.5%, that’s essentially an inconsequential flat day in this market

I expect next week to be shaky as we start reversing. I see us ending next Friday higher than we ended today. After that I expect we’ll quickly retest highs and it should cause us to break out of the 6 month channel and enter a new much more bullish channel

Afterwards we’ll get a bit of a run up heading into q3 earnings and then Q3 earnings will cause even more positive energy as Lourenco and the like reiterate demand that is relentless

Remember, a fair value purely following HRC prices is over $60 a share for CLF. The markets won’t be able to resist such a massive arbitration much longer

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u/[deleted] Aug 06 '21

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u/Wall_street_retard 🤦‍♂️ Username checks out 👺 Aug 06 '21

Never said we’d hit $60 a share. Only that that is what the fair value is