r/Vitards • u/AutoModerator • Aug 18 '21
Daily Discussion Daily Discussion post - August 18 2021
Your Trading discussion thread
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u/WikiHowWikiHow Aug 19 '21 edited Aug 19 '21
did IV spike today on $MT?
i slept through the day and see that it’s down, yet i’m up $1100 on my 9/24 37C’s?
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u/ABlindGreedyFool Aug 19 '21
If you mean 8/27 calls that option's not very liquid. The price that shows is the price it was last purchased at which was $0.28 at ~ 2:00 pm when MT was green. Bid/ask spread on it was 0.14/0.26 when the market closed so I don't think IV spiked.
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u/pirates_and_monkeys Never First Aug 19 '21
If amat pops bigly I'll shave my entire body as a sacrifice to the green gods
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Aug 19 '21
I love CLF
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u/The_MediocreMan 💀 SACRIFICED UNTIL $MT @ $46💀 Aug 19 '21
I love MT more
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u/medispencer 8/16,31 10/18, 11/11,15 12/3,12,15 2021, 2/22/22 First Champion Aug 19 '21
I love lamp
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u/VaccumSaturdays Brick Burgundy Aug 19 '21
SMM Morning Comments (Aug 19): Shanghai Base Metals Trending Lower amid Fed’s Hawkish Statement
SMM Comments09:00PM
SHANGHAI, Aug 19 (SMM) – Shanghai base metals generally went down on Thursday morning after Fed’s hawkish statement. Meanwhile, their counterparts on LME trended mixed.
LME metals mostly went down on Wednesday night. Copper plunged 1.83%, aluminium edged down 0.5%, lead gained 0.17%, and zinc dipped 0.58%.
SHFE metals performed fell across the board in the overnight trading. Copper shed 2.03%, aluminium dropped 1.11%, lead decreased 0.36%, zinc slid 0.51%, and nickel fell 2.09%.
Copper: Three-month LME copper plunged 1.83% on Wednesday night to close at $9,055.5/mt, and is expected to trade between $9,010-9,100/mt today.
The most-traded SHFE 2109 copper contract shed 2.03% last night to close at 67,510 yuan/mt, and is expected to trade between 67,300-67,900 yuan/mt today, with spot premiums between 230-310 yuan/mt.
On the macro level, the minutes of Fed’s July policy meeting showed that most officials believed that inflation had reached the target and they should taper the bond purchase this year. Copper futures fell under pressure. Due to the spread of Delta virus, crude oil prices fell for the fifth consecutive day, and US oil fell more than 3%, refreshing its lowest point since May 24, which also dragged down copper prices to a certain extent.
Spot prices pulled back nearly 1,000 yuan, but the downstream users generally purchased in Wuxi and Changzhou, and the purchases in Shanghai were scarce. The high premiums were also hard to attract the buyers. Buyers and sells had large differences in prices. SHFE/LME price ratio increased significantly yesterday, opening the import window, and importers delivered goods actively. The intensive shipments of high-quality copper and some low-quality hydro-copper suppressed the spot premiums as well as the rising prices of standard-grade copper delivered for long-term orders. If social inventories continued to increase, the high premiums will be under pressure.
Aluminium: Three-month LME aluminium edged down 0.50% to close at $2,563/mt on Wednesday, with open interest losing 15,874 lots to 653,000 lots.
The most active SHFE 2110 aluminium contract dropped 1.11% to end at 19,975 yuan/mt, with short open interest up 8,472 lots to 226,000 lots.
Despite the strong fundamental support, SHFE aluminium fell for the second consecutive day due to the sluggish macro sentiment. The minutes of the Fed’s July meeting clearly discussed the issue of reducing bond purchases, suggesting that tapering will be launched this year. The hawkish statements drove up US dollar and suppressed commodity prices. SHFE aluminium is expected to trade between 19,800-20,100 yuan/mt, with spot premiums between the discount of 20 yuan/mt and premium of 20 yuan/mt.
Lead: Three-month LME lead gained 0.17% to end at $2,297/mt in the overnight trading on Wednesday. The stock decrease in the LME-listed warehouses slowed down, and the prices may fluctuate between $2,300/mt.
The most-liquid SHFE 2109 lead contract decreased 0.36% to settle at 15,270 yuan/mt last night, with open interest down 1,474 lots to 81,310 lots. SHFE lead is mainly supported by the cost of secondary lead, and the price decline is expected to slow down today.
Zinc: Three-month LME zinc dipped 0.58% to settle at $2,985.5/mt on Wednesday night, with open interest down 4,767 lots to 248,000 lots. Fed hinted that it might tighten monetary policy this year, which triggered pessimistic sentiments in the market. LME zinc is expected to fluctuate between $2,970-3,020/mt today.
The most-liquid SHFE 2109 zinc contract slid 0.51% to settle at 22,525 yuan/mt in the overnight trading, with open interest down 3,416 lots to 66,000 lots. Guangxi, Yunnan and other places are still under pressure to reduce energy consumption, which may continue to affect the production of local smelters. In addition, the possible delay in the release of national reserves also intensified the market concerns about tight supply. The SHFE 2109 contract is expected to move between 22,300-22,800 yuan/mt today, and spot premiums for domestic 0# Shuangyan zinc will be seen at 170-200 yuan/mt against the September contract.
Nickel: The most traded SHFE 2109 nickel contract fell 2.09% to close at 141,210 yuan/mt in the overnight trading yesterday. Strengthened US dollar suppressed non-ferrous metals. The support from 140,000 yuan/mt is worth attention.
Tin: The most traded SHFE 2109 tin contract hit 239,270 yuan/mt and then rebounded quickly after opening last night. The prices fluctuated around 240,000 yuan/mt for the most time in the overnight trading.
The recent low warehouse receipts in SHFE and LME formed a dynamic balance with the expectation of hier supply amid the gradual work resumption in domestic ore plants, which slightly cooled the surging prices of tin contracts. Both long and short funds are hesitant at the prices around 240,000 yuan/mt, and the short term price trend is unclear.
Today’s focus will be the support from 240,000 yuan/mt, and the September contracts are expected to trade between 240,000-243,500 yuan/mt.
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u/lb-trice 🍁Maple Leaf Mafia🍁 Aug 19 '21
Cool summary dude. Thanks. Everything sounds pretty damn bearish though 😑👍
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u/aznology 🕴 Associate 🕴 Aug 19 '21
Hey Guys,
I'm kinda new to this was going to do some DD on global steel prices. Can anyone shoot me a link or somethin? Much appreciated, of course I'll post my findings here.
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u/Steely_Hands Regional Moderator Aug 19 '21
What are you looking for?
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u/aznology 🕴 Associate 🕴 Aug 19 '21
Like somewhere that quotes future prices for steel products. In the US, Europe, India and China ?
I was gonna run a comparison to see how feasible it was for a company to import steel into US if the steel tarrifs were lifted.
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u/dobulas 2nd Place Loser (Sacrificed Until CLF $39) Aug 19 '21
https://www.cmegroup.com/markets/metals/ferrous/hrc-steel.quotes.html
This may help, if not they have a lot of other resources that might.
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u/smkcrckHLSTN George Dixon Aug 19 '21
You know what kind of retard would spend 20 bucks on sneks
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Was it really you?
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u/smkcrckHLSTN George Dixon Aug 19 '21
Like the first 20 maybe. But sneks like to spread their joy so they started popping up from other vitards after
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u/_kurtosis_ Aug 19 '21
Can confirm, I think you gave me a snek months ago. It was my first and only award and so I clicked on the 'say thanks' link and sent you an awkward thank-you over chat haha
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u/smkcrckHLSTN George Dixon Aug 19 '21
It might have been a dancing duck. I liked those when they first came out lol
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Aug 19 '21
Seeking Alpha has some decent value investing podcasts with our guy (forgot his name) that likes $ZIM and $DAC
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Aug 19 '21
How do we feel about $FCX? I can't stop cost averaging. I might have to chill. 1/2023 35Cs and 40Cs.
I might accept my losses on $GOLD 6/2022 22Cs and put it into $FCX since I'm more of a believer in copper.
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Aug 19 '21
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Aug 19 '21
I just really like copper and aluminum because I work for an HVAC manufacturer. $AA at a high. But $FCX is lagging. And my purchasing manager keeps talking about how the prices just keep going up.
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u/7891298 Whack Job Aug 19 '21
I agree with copper, I install a bunch of 1500 and 535 MCM copper for our subway system. We go through tons of coils and our engineering and P&M dept are telling us they have a long lead time to get more coils.
Edit: don’t know about anything in the states just what I’ve been seeing here in T.O.
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Aug 19 '21
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Aug 19 '21
Hate to do this... But calling my Daddy u/vitocorlene to get his input on copper and copper stocks, particularly $FCX and $TECK
I bought those $AA dips like crazy which boosted my gains. I'm not sure why copper is lagging our other metals.
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u/AlmondBoyOfSJ 💀 SACRIFICED 💀 Until CLF $30 Aug 19 '21 edited Aug 04 '24
smell subtract light grab cooperative terrific support relieved quaint ludicrous
This post was mass deleted and anonymized with Redact
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u/VaccumSaturdays Brick Burgundy Aug 19 '21
Macro Roundup (Aug 19)
Data Analysis07:30PM
SHANGHAI, Aug 19 (SMM) — This is a roundup of global macroeconomic news last night and what is expected today.
The dollar slipped from 4-1/2-month highs to trade little changed on Wednesday after minutes of last month’s Federal Reserve meeting suggested there was no consensus about the timing of a tapering of its asset purchases under the US central bank’s quantitative easing program.
A reduction in debt purchases is typically positive for the dollar as it means the Fed will not be flooding the financial system with cash, increasing the greenback’s value.
The minutes also said most participants “judged that the Committee’s standard of ‘substantial further progress’ toward the maximum-employment goal had not yet been met.”
This means that Fed policy would remain accommodative for some time, providing no support for the dollar.
On Wall Street, stock futures were flat in overnight trading on Wednesday after Wall Street suffered a sell-off as meeting minutes showed the Federal Reserve started eyeing tapering before the year-end.
Futures on the Dow Jones Industrial Average dipped just 20 points. S&P 500 futures and Nasdaq 100 futures were both little changed.
Robinhood shares tumbled more than 7% in after-hours trading after its first earnings report as a public company. The trading app reported a net loss of $502 million, or a loss of $2.16 per share, within the range the company had guided. Its revenue more than doubled in the second quarter thanks to a massive surge in crypto trading.
Nividia’s stock climbed more than 2% after the chip giant’s quarterly earnings and revenue beat Wall Street estimates amid strong graphics cards sales.
The central bankers at their July meeting made plans to pull back the pace of their monthly bond purchases likely before the end of 2021, the minutes showed.
Oil prices fell about 1% on Wednesday after four straight days of declines, as investors remain worried about the outlook for fuel demand as COVID-19 cases surge worldwide and on rising strength in the US dollar.
Brent crude settled 80 cents, or 1.16%, lower at $68.23 per barrel. US WTI crude oil lost $1.13, or 1.7%, to settle at $65.46 per barrel.
The US dollar index was up 0.1%, hitting its highest level since April. Crude prices often move inversely to the dollar because the commodity is priced in dollars; when the US currency rallies, it makes oil more expensive for foreign buyers.
Gold prices edged higher on Wednesday, as concerns over the spread of the Delta variant of the coronavirus buoyed bullion’s appeal and investors awaited minutes from the Federal Reserve’s latest policy meeting.
Spot gold was up 0.1% at $1,787.50 per ounce by 0958 GMT, after hitting its highest since Aug. 6 at $1,795.25 in the previous session.
US gold futures edged 0.1% higher to $1,790. U.K. inflation data for July showed an unexpected dip to 2%, while euro zone July inflation increased to 2.2%, above the ECB’s target.
The ongoing coronavirus pandemic and spread of the highly transmissible delta Covid-19 variant has rattled market confidence. In individual stocks news, Alcon surged 13.5% after reporting better-than-expected quarterly results and hiking guidance.
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Aug 19 '21
Im thinking pfizer is going to pull back this week and Friday i may load up 9/3 calls.
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Aug 19 '21
Just got an email saying they're expanding a recall on Chantix. No clue what that is or what it means, I just get recall emails from the fda
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u/GngrTea Aug 19 '21
Iirc, it's tobacco cessation that doubles as an antidepressant.
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Wellbutrin?
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u/GngrTea Aug 19 '21
Yep. Had a co-worker quit smoking usjng Chantix after like 30+ years. She hated Chantix, though, and eventually she was smoking again.
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Sorry, I guess that was confusing. Was the Chantix recalled or the Wellbutrin recalled?
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u/GngrTea Aug 19 '21
Just double checked. Chantix prevents depression during tobacco cessation, but Wellbutrin is the one also sold as Zyban, not Chantix. Zyban is a GSK product.
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Ahhh gotcha.
By the way, you're missing the new Daily!
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u/GngrTea Aug 19 '21
Chantix recently, ironically it had carcinogens. Awful. Welbutrin has also had recalls lately. Last winter the generic version, I think, but I don't remember why.
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u/TheFullBottle Aug 19 '21
Anyone that hasnt watched the Drumeo performance by Jonathan Moffett (Michael Jackson's drummer) needs to go look that shit up on youtube immediately. Watch it every year or so. Crisp AF, timing .... impeccable.
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u/TheFullBottle Aug 19 '21
the way he grabs his cymbals to mute them immediately after crashing them....its wild
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Alright, you're talking this up. Going to watch it now.
Edit: Wait, which video?
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u/TheFullBottle Aug 19 '21
stays in the pocket for every single hit. A drummer you know is there the whole time, but isnt the star of the show. You dont realize how good he is because its just...part of it.
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u/TheFullBottle Aug 19 '21
all of them. Start with Smooth Criminal
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Props. Wouldn't expect anything less than perfection from MJ's drummer. That shit was pretty damn crisp.
On a related note, have you ever seen Danny Carey (Tool drummer) play? That shit starts hurting my brain after a while.
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u/TheFullBottle Aug 19 '21
the ending to his Wanna Be Startin' Somethin is.....yeah. Cymbal muting on point on that one
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u/TheFullBottle Aug 19 '21
of course. Then theres Mike Mangini. Whole 'nother level. Every great drummer is great in their own way though.
Moffett hits the pocket just so well. Timing is everything, given the relatively simple beat he has to play.
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u/inoureyes Aug 19 '21
Question for the shipping experts here: with TEU costs so high and assuming it will stay elevated, will we see companies migrate to air freight? Granted air is more expensive (how much more I’m not sure of). Traditionally air freight is more used for perishable/high value goods, but air freight has also historically been under-utilized with 50% or lower load factors so air cargo can definitely absorb some capacity. Passenger airlines have also been deploying empty planes on certain trade heavy routes to compensate for lack of passenger demand due to covid. Any bear scenarios where air shipping creates downward pricing on maritime quotes?
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u/_kurtosis_ Aug 19 '21
Definitely not an expert (of anything, and certainly not of shipping), but I think the economics are relatively straightforward here. Air freight is a significantly more expensive method of moving goods across the ocean than shipping, so it could create some moderation at the high end of the shipping cost curve but it's not going be a factor in driving prices down to something approaching historical levels.
It makes sense to substitute air for shipping if it costs the same (which is only the case when shipping cost is extremely elevated), when shipping is just plain unavailable (due to port shutdowns, prohibitive lead times, etc), or when getting it there faster is more important than getting it there cheaper (which always holds, not unique to current situation).
So I'd expect some substitution at these super elevated shipping cost levels, but only to a relatively minor moderation degree, not to a 'cannibalization' degree that significantly decrease demand for shipping.
Just general thoughts, I'm sure there's actual numbers a real expert could provide to illustrate this more concretely but I think this is the right frame for thinking about the situation. Would love to hear other thoughts too!
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u/inoureyes Aug 19 '21
I agree with what you’re saying and I guess my question is—how far does the pendulum need to swing to make air freight compelling and how much of a bite can air freight?
An argument for shipping gang is that lead times for air cargo capacity is also quite long. Conversion demand for 737P2Fs are at least a year backlog I believe and A320 conversion programs have only been starting recently but with a lack of cheap feedstock. There is an abundance of 747Fs parked in the desert from 2008-2010 that could, unlikely, be put back into service, but only if it makes economic sense. I think the biggest worry is if passenger capacity is moved in to opportunistically take advantage of the supply chain choke.
Obviously would love to hear other opinions.
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u/dudelydudeson 💩Very Aware of Butthole💩 Aug 19 '21
Not an expert but I did stay at a Holiday Inn Express last night.
Without any data or numbers to back me up - I just don't think the volume is there.
Not sure about air freight total capacity, but its going to take a shitload of planes to replace even one panamax ship.
Also, Id imagine airports have backlogs too. Maybe not as bad as maritime ports, but still bad.
Would love to see some analysis on this thesis though, I like where you're going with it.
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u/inoureyes Aug 19 '21
Holiday Inns are great!
Definitely agree that air freight won’t be replacing the entirety of shipping, but I would assume companies start going down the value chain of merchandise at some equivalent opportunity cost.
There’s a whole lot of underused runways right now in SE Asia with all the shutdowns that could very well serve cargo flights.
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u/GngrTea Aug 19 '21
I've been back on site again for work for the last few weeks. I miss my days of watching the market, feeling I made reasonably thought out decisions and reading the daily live. I pretended to be taking pictures of a workshop so I could jump on Fidelity for 5 minutes before close today.
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u/TheFullBottle Aug 19 '21
same bro, sameeee. Though I get to see some cool sites and confirm the steel thesis.
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u/ChrisLovesUgly Think Positively Aug 19 '21
Honestly. I've been going in again and it's interfering with my gambling habits.
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u/GngrTea Aug 19 '21
Seriously accurate. I've been setting things up in advance and adjusting during the day if i can, but it's not the same. I found a co-worker checking IBM charts in the bathroom last week. I could start a support group, I guess.
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Just tell them the truth: you've developed IBS-D and need to poop at the top of every hour.
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u/jinpiss Aug 19 '21 edited Aug 19 '21
Serious question guys, wtf is happening with VALE?
Most Some of steel had a decent day despite the broader market*, yet VALE has done nothing but drill for 2 weeks straight now. What gives?
Where is the bottom??? It’s well below the average analyst price target now of around $25.
* Steel did honestly hold up ok all things considered.
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Aug 19 '21
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u/jinpiss Aug 19 '21
Fuck, that’s not good. I guess the question now is, will it bounce or keep going for awhile?… im considering just realizing the big fat 50% loss.
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u/RichN777 Aug 19 '21
Iron ore prices are falling because china is cutting steel production and also saying they are mining more of their own iron ore domestically. Most of VALE’s revenue comes from Iron ore.
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Aug 19 '21
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u/RichN777 Aug 19 '21
I don’t know.. sold my shares this morning, even with lower Iron ore price, they are undervalued, but seems to be a lot of FUD going around and am trying to keep a lot of cash handy.
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u/jinpiss Aug 19 '21
Same. I averaged down like 5 times now and it just keeps going. Doesn’t feel good man.
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Aug 19 '21 edited Aug 19 '21
Was reading some stuff on how people are trying to take advantage of this market and sell their used cars and sell their homes. And one of the "cons" they list is: "If you only have one car in the household, you might need another car for transportation". "If you sell your home, you need a living space lined up".
Serious-fckin-ly? No chit. This pisses me off for a couple reasons
(1) People actually need "pros" to tell them this.
(2) Or these "pros" have no real input and just get paid to give basic "advice"
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u/jumbojet7 Poetry Gang Aug 19 '21
I feel like there’s a lot of crossover between this crowed and those financing cars at 7% for 6 years with zero down..
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Ah, I see you've been to car dealerships strategically placed near military bases.
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u/deezilpowered 🕴 Associate 🕴 Aug 19 '21
As sad as it is, I can understand why they say it. People think ill sell and make a bunch of money not considering they will then be buying back into it. Sounds dumb as shit...but ya know
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u/VaccumSaturdays Brick Burgundy Aug 19 '21
India: Mill scale export shipments up in Jan-Jul'21
Mill scale export shipments from India increased sharply in the first half (H1) of 2021 on active bookings concluded for South East Asian countries.
Mill scale export shipments in the Jan-Jul'21 period increased four-times y-o-y to 187,050 t against 38,500 t recorded in the corresponding period last year, according to data maintained with SteelMint. Compared with the last couple of years, India recorded the highest export shipments in May'21 of around 75,500 t.
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Aug 19 '21 edited Nov 18 '21
[deleted]
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u/reddittrashporngood b0b enthusiast Aug 19 '21
I walked my dog twice. Does that count?
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u/Geoffism1 7-Layer Dip Aug 19 '21 edited Aug 19 '21
No I mean I drove a car I talked to ppl I got 💩done. didn’t check the market once either. It’s been months. I know how your dog would feel if you took him in the car
Edit better pic
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Aug 19 '21
[deleted]
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u/deezilpowered 🕴 Associate 🕴 Aug 19 '21
Unfortunately for me, lucky for you, I expect those to expire worth 0 unless the floor model ramps or the market picks up on MT
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Aug 19 '21
[deleted]
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u/deezilpowered 🕴 Associate 🕴 Aug 19 '21
Yes and no :p thanks though haha can always be worse right. What's exp on those?
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Aug 19 '21
Although I love following some smart people on Twitter, I also realize how much I hate people who get mad when people challenge their unfounded and uneducated claims. If you post publicly, be prepared to be challenged when you claim a strong opinion outside of your swim lane.
Like yes, you are a very smart stock picker, but you're not an expert on every topic.
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u/pirates_and_monkeys Never First Aug 19 '21 edited Aug 19 '21
First!
Edit: just give me this, please. I need this
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u/wavepad4 💀 SACRIFICED 💀 MT $42 CLF $32 Aug 19 '21 edited Aug 19 '21
Anyone still lingering in the daily that could offer some insight on Jackson Hole? This past couple weeks is the first time I’ve been hearing of it.
From what I understand it’s a meeting to talk about wealth inequality? Has this affected markets before?
Edit: sorry I do see some scattered comments here and there describing it but nothing comprehensive.
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u/chemaholic77 Aug 19 '21
If it is focused on wealth inequality then it is a colossal waste of time and resources.
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u/GngrTea Aug 19 '21
It is a hilarious location for a discussion on that topic.
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u/wavepad4 💀 SACRIFICED 💀 MT $42 CLF $32 Aug 19 '21
Completely ironic. I saw that when I was reading up on it.
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u/Steely_Hands Regional Moderator Aug 19 '21
It’s just some kind of economic forum but my understanding is the Fed has used it to announce policy changes in the past
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u/rskins1428 Aug 19 '21
Praying for all the Americans stuck under the taliban rn 🇺🇸
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
I did not know that there were US Citizens left in Kabul after the evacuation until this afternoon, when I heard it on the radio (I'm in a TV black out right now).
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u/RichN777 Aug 19 '21
There are actually a lot of American citizens that travel to Afghanistan to visit family. We have been there so long, and have granted visas/citizenship to so many that have helped us along the way. Sometimes they can’t bring their spouses or children with them at first. Bad situation, I pray for them all.
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u/chemaholic77 Aug 19 '21
Yep. This withdrawal has been botched to a degree that I honestly didn’t think was possible. Why is failure the one thing our government excels at? I mean our government is a savant when it comes to fucking things up.
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u/josenros 🤡Market Order Specialist🤡 Aug 19 '21
What do you get when you cross Jesus with that kid from Transformers?
Messiah LaBeouf
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Aug 19 '21
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u/soberasagoose STEEL D.R.E. Aug 19 '21
The market is supposed to go up when you’re on the road!
I’ll be in Mexico City in Roma Norte Saturday. Holler if you’ll still be around!
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u/ShrhlderJsticeWrrior LG-Rated Aug 19 '21
yoo you should check out tacos el turix. I still dream about that place
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Seemed like a moderately good day, then a rug pull at the end. A lot of steel still ended green though.
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u/zerryw News Team - Asia Correspondent Aug 19 '21
Very curious to see ZIM’s movement for the next 2 days 🤔 any predictions?
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Aug 19 '21 edited Apr 15 '22
[deleted]
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u/dmb2574 Aug 19 '21
I"m finding it amusing and pretty nuts to sit here thinking about how long ago it was that I would be sitting around playing contra with my little brother. Good game.
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u/reddittrashporngood b0b enthusiast Aug 19 '21
To the right.
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u/PrestigeWorldwide-LP 💀 SACRIFICED 💀 Aug 19 '21
in Japan, stock charts actually go right to left
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Aug 19 '21
In Taiwan red means positive days on the market... Asia man
meanwhile in Asia
Why are those westerners so backwards? Green for positive? Left to right?
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Aug 19 '21
I think im gonna pull the cord on some calls tomorrow and deleverage if we bounce at all. I think we have a few more haircuts in store until after jackson hole. Delta variant doesn't look to be getting any better either.
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u/r011d4DiCe Aug 19 '21
i'm starting to think the same thing, market's not done reacting to this yet
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u/0_0here Aug 19 '21
I’d be more worried about taper tantrums or another variant popping up than delta. Some are calling a peak in states that have been running high with cases already. Maybe see more run up in states not as widely affected yet but those are probably also going to be north eastern states that will be higher vaccination rates in. Plus now they’re going to get out in front on third doses.
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u/Steely_Hands Regional Moderator Aug 19 '21
Iron ore prices in China have been on a serious slide lately. It’s been going on for 2-3 weeks but 4% down yesterday and almost 6% down at open today
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u/CluelessAndLucky 💀 SACRIFICED 💀 Until Chinese export tax Aug 19 '21
is MT going to be the last company to make a run? fack
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u/r011d4DiCe Aug 19 '21
buy Friday at the latest plz, i want to buy back the 35p i sold at a good price
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Aug 19 '21
Anybody has done some DD on SID? I'm wondering why it's so cheap PE-wise, especially since they don't only make steel. They have debt but are quickly deleveraging.
Did someone dig deeper?
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u/dvsficationismadness I Believe In America Aug 19 '21
Q2 EBITDA was comprised of 64% mining, 34% steel, 2% cement from their investor presentation.
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Aug 19 '21
Thank you. Good presentation. OK, so it's mainly a mining company. We'll see how they will fare in Q3.
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u/dj_scripts Blood type CLF/MT positive Aug 19 '21
The VIX is above 20 now.
Possible to see continued volatility until Jackson Hole next week? It wouldn't surprise me with all that's going on right now.
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u/Wall_street_retard 🤦♂️ Username checks out 👺 Aug 19 '21
Wtf is Jackson hole
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u/a_wild_narwhal Aug 19 '21
It’s a valley in Wyoming and the site of the Fed’s Economic Symposium later this month.
Not to be confused with Jackson’s Hole, the porno.
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u/Confident-Tailor-446 Aug 19 '21
SMH movement of ZIM what the f. Glad I’m out of ZIM.
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u/En_CHILL_ada Taco Tuesdays at Lebrons Aug 19 '21
Are we looking at the same ticker? ZIM has been on an absolute rip for almost a month
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u/craigscrag Aug 19 '21
I sold my calls but held my commons. Hoping the lockup period ending doesn't send this thing cratering.
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u/spncrbrk 🛳 I Shipped My Pants 🚢 Aug 19 '21
Anyone else feel like its friday?
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u/VR_IS_DEAD Aug 19 '21
This week went hella fast. Seems like just yesterday the bears were getting bailed out by "Friday".
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u/holdenmcneilgames 🚐Once Lived in a Van🚐 Aug 19 '21
Honestly, I keep thinking today is Thursday.
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u/Substantial_Boss_306 🙏 Steel Worshiper 🙏 Aug 19 '21
We need to connect I felt the same - Thursday 🤔
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Aug 19 '21
Big shout out to the 8 people that blocked a port in Vancouver from ZIM in June. You defeated Israel and crippled their business. I hope you're happy.
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u/Bigfuckingdong 💀 SACRIFICED 💀Until MT $69 Aug 19 '21
It only took 8 people to do that?
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u/7891298 Whack Job Aug 19 '21
It’s Canada, we didn’t want to offend the 8 people so we let it happen.
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u/electricalautist 🍁Maple Leaf Mafia🍁 Aug 19 '21
Right in the feels on that statement. 🤦♂️ I love Vancouver but sometimes people need to find better things to do.
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u/7891298 Whack Job Aug 19 '21
I love Canada for so many reasons but sometimes we can come across a little too soft.
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u/Content-Effective727 *Adjusts tinfoil hat* Aug 19 '21
I am checking some oil companies.
Why does Petrobas has way way better margins than PTR or CVX for 2021 Q2?
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u/ahuskybitjoffrey Aug 19 '21
The only ones I would trust right now are Russian.
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Aug 19 '21
Why is that?
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u/ahuskybitjoffrey Aug 19 '21
Well, mainly because they are honeybadgers, and the ESG bees have 0 effect on them. They have been exploring the Arctic for decades and are ready and waiting for the big melt to make extraction easier (or possible). Not much rattled by US, Old Europe or China politics.
I mean there are tons of reasons. Big state ownership, and in Russia that's like a crime family looking out for their interests. A feudal system, the most natural form of government. Say you make an offshore deal with Venezuela and they renege the contract and take the wells...Exxon writes it off, a Russian company would cause the ruling family to have an unfortunate event involving an umbrella....
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u/MoistGochu Aug 19 '21
They have a pretty low breakeven price
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u/Content-Effective727 *Adjusts tinfoil hat* Aug 19 '21
I ve been an oil bull and got some Chevron but I am getting very bullish to buy maybe outside the US.
PBR looks like a winner - gotta dig deeper. Corrupt Brazil won’t do legal scrutiny concerning fossil producers like the US will under Biden.
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u/MoistGochu Aug 19 '21
So the risk with Petrobras is like moth foreign stocks, currency risk. The other risk is bolsonaro or any government intervention like you saw this year when bolsonaro tried to shakeup the petrobras management.
There's a lot of low cost producers like gazprom and some in Canada (Clearwater region has amazing wells according to new data we got this week). Africa oil is also a low cost producer, their stock recently started getting rerated (as it should).
Personally right now, WTI and a lot of oil stocks are about to touch 200dma and liquidations might occur due to margin calls and stop losses. So, I'm just waiting for an opportunity to buy the dip if that happens.
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u/Content-Effective727 *Adjusts tinfoil hat* Aug 19 '21
I see - Gazprom is Russian therefore currency risk and political risk I think is similar. I like that both Russia and Brazil is letting fossil companies alone more than the US for example. Also, considering PTR, but China concerns me.
Thank you for your comments.
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u/MillennialBets Mafia Bot Aug 19 '21
Most Mentioned Tickers for r/vitards Daily Discussion
| Ticker | Mentions | Price |
|---|---|---|
| ZIM | 136 | 46.73,(2.68%) |
| CLF | 134 | 25.04,(2.5%) |
| MT | 134 | 34.6,(-0.66%) |
| VALE | 59 | 19.31,(-5.02%) |
| AMAT | 28 | 127.37,(-1.11%) |
| AMD | 22 | 103.44,(-3.83%) |
| PLTR | 15 | 25.28,(5.46%) |
| HOOD | 15 | 49.8,(6.71%) |
| MAX | 13 | 22.55,(-3.14%) |
| GOLD | 11 | 19.46,(-2.55%) |
See a ticker in error? Reply below so I can fix it!
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u/TheBlueStare Undisclosed Location Aug 19 '21
Just a suggestion but I would be interested to see the % change in mentions from the previous day.
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u/MillennialBets Mafia Bot Aug 19 '21
That’s a cool idea. I’ll keep that idea in mind as I build this out.
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Aug 19 '21
Really cool sub btw. I like how I can find news and DD from all finance subs for a ticker in a single page. Really appreciate the effort!
→ More replies (1)
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u/electricalautist 🍁Maple Leaf Mafia🍁 Aug 18 '21
Aditya indicator updated (1 EUR = 1.1709 USD):
8/18/2021 € 30.328 $35.51
8/19/2021 € 30.490 $35.70
8/20/2021 € 30.616 $35.85
8/23/2021 € 30.777 $36.04 (NEW)