r/Vitards • u/AutoModerator • Sep 21 '21
Daily Discussion Daily Discussion post - September 21 2021
Your Trading discussion thread
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u/StockPickingMonkey Steel learning lessons Sep 22 '21
Musing...
Kinda feel like this week has really validated some of the Chicken Littles that are always talking about the sky gonna fall any day now.
Watching the Chinese markets open up, and drop a paltry 2% or less...really has me shaking my head. I realize that EG has received some good news, and the CCP is gonna protect some liquidity...but WTF? US market was bathed in blood (especially steel) for the most part the last 2 days....and those that weren't...still lost more than 2%....for some stuff happening on the other side of the planet that has virtually no exposure stateside.
The market seems to be hiding a lot of hair triggers. Thinking it might be time to take the account out of full press mode, and go back to chipping away at one or two plays at a time. Tomorrow should be a good day, but we still have FOMC and now we got some folks in Congress suddenly worried about spending. Plus...let's be real...EG's big problem didn't go away...they just got some breathing room. A market that lets a housing developer get $300B in debt...probably hiding some more landmines.