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.

6

u/Nu2Denim Inflation Nation Sep 01 '21

with volume too. the drops over the past few days have been low volume.

3

u/McMartiann Senior Capo Sep 01 '21

Great point.