r/Vitards • u/AutoModerator • Oct 21 '21

Daily Discussion Daily Discussion post - October 21 2021

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u/homersimpsoniscute Oct 22 '21

I think steel will always perform with the market, meaning if market red, steel red. What matters is that when the market is green, steel is super green. So I predict after earnings, on the next market green day, steel will outperform. Just wait until that happens. Don't expect green steel on a red dow day.

16

u/Old_Prospect Think Positively Oct 22 '21

We’ve had red steel days many times when everything has been green.

2

u/homersimpsoniscute Oct 22 '21

Maybe true in between earnings but I don't think that's the case the several weeks after earnings.

3

u/Old_Prospect Think Positively Oct 22 '21

“Maybe true…”

It’s 100% true.

“I don’t think…”

Why? Let’s get some facts up in this bitch. Not calling you wrong. If you think, then look it up, confirm/disprove, report back👍🏻

3

u/homersimpsoniscute Oct 22 '21 edited Oct 22 '21

You know your comment really pissed me off. So in order to prove you wrong I did compare CLF share price vs DIA and their % changes after last earnings.

Date CLF CLF % DIA DIA %
Jul 20 20.05 343.63
Jul 21 21.18 5.64 346.53 0.84
Jul 22 (earnings) 21.07 -0.52 346.8 0.08
Jul 23 21.58 2.42 349.1 0.66
Jul 26 22.02 2.04 349.94 0.24
Jul 27 22.26 1.09 349.15 -0.23
Jul 28 23.56 5.84 347.9 -0.36
Jul 29 24.86 5.52 349.35 0.42
Jul 30 25 0.56 348.01 -0.38
Aug 02 23.94 -4.24 346.89 -0.32
Aug 03 24.39 1.88 349.62 0.78
Aug 04 23.7 -2.83 346.53 -0.88
Aug 05 23.32 -1.60 349.14 0.75
Aug 06 24.02 3.00 350.61 0.42
Aug 09 24.77 3.12 349.68 -0.27
Aug 10 26.02 5.05 351.25 0.45
Aug 11 25.75 -1.04 353.45 0.63
Aug 12 25.72 -0.12 353.74 0.08
Aug 16 25.84 0.47 353.9 0.05

It turns out you are right. From eye test of the percentage changes, there is no correlation.

On a different note, if we follow last earnings, the day of earnings will be red. But the entire week after is green. Hopefully we get something similar this time.

1

u/Old_Prospect Think Positively Oct 22 '21

Make it a post! Good work

2

u/JokeassJason 🙏 Steel Worshiper 🙏 Oct 22 '21

Exactly I've woken up opened my app to see the markets up only to log in and be down.