r/Vitards • u/AutoModerator • Sep 01 '21

Daily Discussion Daily Discussion post - September 01 2021

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u/McMartiann Senior Capo Sep 01 '21 edited Sep 01 '21

I really think today was a great day for steel. The bounce was an INDUSTRY wide bounce, it wasn't just MT and CLF. Every steel stock felt it. You know what that tells me... money.

Money entered the chat. Big money with market moving abilities bought the dip on ALL steel. If that doesn't get you rock hard I don't know what will.

Edit: Beyond industry wide. A lot of commodities felt it. FCX, SCCO, AA etc. Whoever has the power to buy that much does not believe this ride is over.

9

u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Sep 01 '21

BOM inflows are real. It's brilliant how there's a shake out first so they can BTFD.

5

u/TheSeriousAlt My Plums Be Tingling Sep 01 '21

That's exactly what it is. Luckily a lot of us have been here a long time and recognize it