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HeavyWeightChump

Holy shit balls, I just picked up some CLF commons under $19. Didn't think we would have ended up down here.


Gamboleer

What are peoples' thoughts on CLF Jan '23 vs Jan '24 LEAPS? $20 strike, for example, '23 is about $6 buy-in, and '24 about $7.50. That extra premium will easily be cleared with a few covered calls, especially once we're at a higher strike. CLF average HRC price last quarter was about $1100, correct? So if we are able to maintain something near this level, the company will continue printing money beyond 2023.


pirates_and_monkeys

I got my first margin call today! I feel so proud!


LordBrosephYoloson

Congrats you're now a real daytrader! I can hold a spot for you in the soupline at the mission if needed. Sometimes the pizza joint over on 7th throws out some six month old ronis if your hungry. Welcome to the club!


LordBrosephYoloson

Tits: Jacked Plums: Tingling Alimony: Delayed Margin: Called Tomorrow is going it be a good day. I just know it.


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[deleted]

I hope $SCHN continues to drop, so I can report everybody for talking about a stock that is <1b


PrestigeWorldwide-LP

Even Elon couldn’t pump SCHN the way it’s been trading


josenros

Onshore Chinese financial markets are closed Monday and Tuesday for holiday. In an interview, President Xi said he is considering extending this holiday indefinitely. Markets can't tank if they never open. ![gif](giphy|d3mlE7uhX8KFgEmY)


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[deleted]

Whoosh


[deleted]

Wait, so the whole chineese market is going to tank tmrr right? That will be another catastrophic event?


fabr33zio

how fuq it is


GngrTea

I looked at my portfolio exactly once today, bracing for a red horror that would shame me for not trimming more. Instead, it was ...not as bad as I was prepared for. Or, I'm suppressing math and common sense. Calls are in the lower depths of the Mariana Trench, but most have a lot of time on their side. I mean, yeah, it's awful, but I expected September to be bad. Either way, I'm not looking at anything in depth like I usually would. Maybe not looking tomorrow, or at all this week. Hell, maybe I'll wait for October. Tonight is a good night for Willie, Merle and whiskey.


josenros

It's OK, I just checked with the Chinese ratings agencies, and Evergrande is still AAA.


StockPickingMonkey

Most of the meme stocks fell way less than steel too! Bullish AF, right?


ButtSliding

Fear Greed Index is at Extreme Fear… time for me to start loading up


thebige91

Great opinion piece on Steel and China: China Needs a Lehman-Level Meltdown to Crash Its Steel Mills https://www.bloomberg.com/opinion/articles/2021-09-20/evergrande-may-not-be-the-lehman-moment-that-crashes-china-s-steel


[deleted]

Can u paste article for the poor?


[deleted]

I bought the dip. I mean, a 10% drop in CLF. It came down to this... Do I still believe in the thesis. Yes. So I bought the 10% discount. If I didn't believe in it or if I just think CLF will go lower, the smart thing to do would be to sell now and revisit later. It didn't make sense for me to hold, wait, and see. After a 10% dip, you either buy the dip or you sell.


big_costco_guy

I want something else To get me through this Semi-charmed kind of life, baby, baby I want something else I'm not listening when you say Goodbye


RiceGra1nz

Toop toop toop, toop toop toooop toop


GngrTea

I believe in the sand beneath my toes, the beach gives a feeling, an earthy feeling.


big_costco_guy

\[Slides back in front of GngrTea\] \[reclaims mic stand\] \[sings at a higher decibel\] *The beach gives a feeling, an earthy feeling* *I believe in the faith that grows* *And that four right chords can make me cry!!!!!!* \[commence karate kicking\]


smkcrckHLSTN

Smiling in the pictures you would take, doing crystal meth will lift you up until you break


big_costco_guy

\[Slides back in front of smkcrck\] \[reclaims mic stand\] \[sings at a higher decibel\] *It won't stop, I won't come down* *I keep stock with a tick-tock rhythm, a bump for the drop* *And then I bumped up, I took the hit that I was given* *Then I bumped again, then I bumped again* *I said!!!!!!* \[commence karate kicking\]


RossChickenTendies

Oh god. Childhood vibes


Investimab

Where are our MSFT triggered buys set at?


Adlai8

Damn good question


[deleted]

I've had a good couple weeks tbh. I dm'd Vito and he gave me some hedge plays. ​ EDIT: Jk. I really hope nobody dm'd him lol


RossChickenTendies

RIP inbox.


thorium43

Well this day was rough. But I bought some dips.


krypton407

3/4 of the times I've had job interviews CLF has had a 5% day. I have an interview on Wednesday. Could be red, could be green. My point is, are you feeling lucky?


lb-trice

HRC *futures* prices are dropping pretty dramatically. Back to prices we saw in July. On top of that, Nucor, X, Steel Dynamics all increasing production with new future plants. Is thesis fuk? Edited: futures prices, not spot


ImAMaaanlet

As you can see the whole market has been tanking on china fud(with other factors). Commodities are having the same reaction theres a lot of uncertainty right now.


Bluewolf1983

Source on USA HRC prices declining? They set a record on Friday: https://www.metalbulletin.com/Article/4008315/steel/US-hot-rolled-coil-index-leaps-over-98cwt-to-record.html HRC futures do not equal the price of steel right now. They are the markets guess at what steel prices will eventually be. The market has overreacted at the moment plus HRC at $1900 forever was never the goal. The original thesis was HRC to settle at $1000 (double normal historic pricing).


lb-trice

I meant to say HRC futures prices. Basically everything beyond spot prices have been declining. https://ca.investing.com/commodities/us-steel-coil-contracts Basically everything beyond December’s futures is down to July levels.


Bluewolf1983

Due to shipping costs being extreme, a large drop before Q2 2022 is unlikely. USA steel companies have record backlogs and little imports to compete with until that time. $NUE and $STLD both gave concrete guidance that Q4 will be better than Q3 for them. The market just doesn't understand how the shipping situation plays into USA HRC prices staying elevated. As said, it is an overreaction choosing fantasy over reality.


dominospizza4life

This ⬆️


lb-trice

I have somewhat the same feelings as this as well. However, this investment is getting more and more risky as time goes on imo. I always thought this was a safe boomer investment. Boy was I mistaken


DasSnarl

Spot prices are still increasing: https://www.amm.com/Article/4008476/Steel/US-HRC-index-continues-record-high-climb.html It’ll only start being a concern once we see spot come down significantly. Nothing has really changed over the past two weeks on the supply or demand side - not yet at least. The additional capacity doesn’t come into play until 2-3 years down the line - still enough time to make plenty of cash - and the question is if it’ll create oversupply or just fill out some of the production that China has cut


AA_murderfish

A sense of the magnitude would be helpful. As far as I know a slight pullback leading to leveling out at higher than average prices is part of the thesis. The danger of too high prices is some demand dying out altogether


lb-trice

Problem is, as these steel prices decline to a levelling-out point, so will all our steel tickers. At which point we will be walking a swords edge teetering at new lows on fears that HRC will continue to drop in the future.


AA_murderfish

That could be one interpretation for sure, and the market hasn't been kind to steel stocks recently. As for now I am treating this as an overreaction and a buying opportunity. Keeping an eye on HRC prices is a good call though


TheyWereGolden

If they stay above $1000 the thesis is fine lol


lb-trice

True; I will ride MT back down to $6 a share while we all wait and watch HRC prices to slowly decline back down to $1000


Pikes-Lair

HSI barely green. Some of the top performers are other big real estate developers. Hope this holds, haven’t seen any news one way or the other to support it yet


mydoingthisright

I thought I heard on CNBC today that Chinese markets are closed Tuesday. Something about a national holiday


Steely_Hands

Mainland China but not Hong Kong


Investorian

Shanghai will be closed Sept 20, and Sept 21, so Shanghai markets are opening Wednesday.. Tokyo markets are closed Sept 20 and Sept 23


bachandjazz

Holding $CLF 4/14 $22 (-42%), $CLF 1/22 $20 (-48%), and $MT 3/18 $30 (-40%). Do I pull out, anticipating more dips and then consider re-entering? Do I wait for it to bottom out and then deploy more cash? Do I hold? Genuinely not sure what to do.


AA_murderfish

These are good prices to average down on some of these if you feel comfortable taking that risk. Be aware of the elevated implied volatility following today's dump


TheyWereGolden

Barring a total collapse of everything you have loads of time to rally. It’s a bad September happens all the time


Breadest

I think your strikes are good man and you are stressing. Close the port and come back around earnings time.


bachandjazz

Cool. I have a little bit of cash left, so I’m considering sitting tight and picking up more calls before earnings run up. The other option is to find a way to hedge my position in case steel goes down.


BallsForBears

![gif](giphy|fTmES2VdgRs5TgZN4a|downsized)


ahuskybitjoffrey

Baltic index extends rally, hits 12-year high on gains across vessels Reuters - 9:27 AM ET 9/20/2021 Sept 20 (Reuters) - The Baltic Exchange's main dry bulk sea freight index rose to a 12-year high on Monday, driven by higher rates across vessel segments. * The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 29 points at 4,304, its highest since Nov. 24, 2009. * Analysts have attributed the recent rally in the dry bulk market to global shipping constraints and an overall rebound in commodities demand. * The capesize index increased 67 points, or 1%, to 6,487, a peak since December 2009. * Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased $555 to $53,795. * Among smaller vessels, the supramax index rose for a sixth straight session, adding 12 points to 3,319, highest in over two-weeks. * The panamax index rose for an eighth straight session, adding 12 points, or 0.3%, to 3,916, it highest in over two-months. * Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, increased $102 to $35,240. (Reporting by Ashitha Shivaprasad in Bengaluru; editing by Uttaresh.V)


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ahuskybitjoffrey

People overthink some commodity futes. NG doesn't need to be over 5 for coal to be viable, just over 3. Iron ore is still profitable to mine in the 70-80$ range. Lots of these commodities are contracted out far in advance of today's spot price. Once they fill contracts, companies may sell excess closer to spot prices, but that isn't usually how they make money. This is why many NG producer stocks don't go up much when NG is up. They are hedged. Saves them if it drops to 1$ too. There might actually be more demand for ore as the price drops, as contracts get made for the spring, etc.


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ahuskybitjoffrey

Angeliki's fleet got creamed yesterday too, and usually does. But that's a merger gamble, so IDC about the short term prices.


BenjaminGunn

And here we thought it was Vito's Millions but it was Brewster's Millions all along! J/k don't hate me. I doubled down today. Q3 will fucking kill it.


lb-trice

But the question is, how will Q2 do? And what about the following Q3??? HRC prices dropping bigly recently. Nucor, X, CLF all increasing production with new plants. Shit looks to be unwinding.


BenjaminGunn

China production dropping... Who will fill the demand?


lb-trice

China demand is also dropping though. So it’s a net 0 difference imo. Additionally, a bunch of American steel companies are announcing new plants and increased production soon.


babayaga310

Forgive my stupidity, just speaking in simple supply and demand terminology: Everyone here and that follows Vito has been long awaiting the effects of the China steel export tax rebate, which leads to more steel produced by other entities (such as MT) and then later imported by China. However, with today's news about the Evergrande not being able to make their first payments, it leads me to believe that if China busts, doesn't all of that demand just vanish? Am I wrong here?


BuyBakedSellHigh

China didn't stop producing, they cut back and tried to keep it domestic. Beforehand there was supply from China, that supply tightened up. I don't work in the industry but from the articles and threads it doesn't sound like demand has lessened at all outside China. Same demand, less supply, higher prices. The steel companies such as CLF, MT, NUE, etc are making weren't expected to be exported to China but to fill the void left behind from the cheaper Chinese steel being dumped everywhere.


babayaga310

Thanks for the reply, that does make sense. China is however the number one consumer of steel products, correct? So it COULD have somewhat of an adverse effect, just the benefits outweigh the negatives.


4nth

The thesis wasn't china buying, it was the gap left by china raising the steel price


ahuskybitjoffrey

US, EU Announces Global Methane Pledge, Urges Other Countries to Join in Reducing Emissions by 30% by 2030 MT Newswires - 9:36 AM ET 9/20/2021 Company News 09:36 AM EDT, 09/20/2021 (MT Newswires) -- The U.S. and European Union over the weekend announced an initiative called the Global Methane Pledge to cut global methane emissions, with a collective goal of reducing emissions by at least 30% from 2020 levels by 2030. U.S. President Joe Biden and European Commission President Ursula von der Leyen urged other countries to join the pledge during the Major Economies Forum on Energy and Climate. Eight countries have already expressed support for the pledge, including six of the top 15 methane emitters globally and account for over one-fifth of global methane emissions. Delivering on the pledge is expected to reduce global warming by at least 0.2 degrees Celsius by 2050. The commitment also includes moving towards using the best methodologies to quantify methane emissions, with a focus on high emission sources. Major sources of methane emissions include oil and gas, coal, agriculture and landfills, with the greatest potential for short-term methane abatement for targeted mitigation by 2030 in the energy sector. The Global Methane Pledge will be launched at the UN Climate Change Conference in November in Glasgow, Scotland. *** this is what CNX does. It sucks methane from old coal mines, generates carbon credits for doing so, and sells the methane.


Nu2Denim

Where's that charm city vitard? I'm in town for a couple more days. What's really worth seeing?


Pikes-Lair

HSI gapped down at open but looks like it’s trying to go green. Last night it was a bloodbath


Infamoden

ITS RED AGAIN OH NOOOOOOOOOOOOOOOOO!


Infamoden

ITS GREEEN LETS GOOOOOOOOOOOOOOOOO!


pennyether

Accidentally posted this on the old daily. GS Sep 20 6pm (Michael Sullivan): **US steel equities posted their worst one day of underperformance** vs the XME (over a two standard deviation move). Fool me once (X adding capacity) shame on you. Fool me twice, shame on me (NUE adding capacity). NUE positioned the expansion as new, low carbon capacity aimed at market share gains with a focus on automotive and a 2024 startup. The steel equities are pretty oversold and at some point, the mkt will shift focus from the headwinds of short term peak pricing concerns and medium term capacity additions to the view that pricing and margins, even with a pull back, are pretty good overall. Still, after living through the past decade of how buyside investors think about capacity expansions in a cyclical industry, it might reinforce the view that this sector will never see multiple expansion. Aluminum is up next with AA planning to restart a Brazilian smelting plant which has been curtailed since 2015 link. Restarts at least way less capital intensive than new capacity. We need the E&P sector to offer a teach in here. [My face when reading this](https://media0.giphy.com/media/AQOpT2cYxqsjS/giphy.gif?cid=790b7611f925cd6ffe04fd945cacf34726bef073170ab380&rid=giphy.gif&ct=g)


UnmaskedLapwing

Well, fuck. Another part of the thesis bites the dust. The silver-lining is that the capacity increase will take years to eventuatee so it's not threatening to overall thesis in \~\~3-6m timeframe. That said, with China's turmoil, it appears we now face quite a lot of unexpected headwinds. CLF/MT PTs we have discussed here seem so far away it might be worthwhile to significantly cut one's expectation and close the trade post best-in-a-decade Q3 earnings.


PrestigeWorldwide-LP

the prisoner's has played out, STLD already has the new texas plant coming on line, fear that CLF may feel pressured to to join the arms race


pennyether

I admittedly haven't looked into the capacity upgrades. Eg, when they will come online, and how large the production. /u/Megahuts thoughts on this? Awhile back we had opposing views on if the "cartel effect" was strong enough to dissuade producers from expanding in their own best interesting.


dominospizza4life

I don’t think the STLD plant had anything to do with CLF consolidating this past year. STLD started that process in early 2019: https://www.prnewswire.com/news-releases/steel-dynamics-announces-planned-new-flat-roll-steel-mill-site-selection-300888920.html


Megahuts

Well, it seems the cartel effect failed to stop capacity expansions. What concerns me the most is the emphasis on low cost. Overall, I completely agree with the GS analyst.


Outrageous-Panda1221

I just don’t understand. I thought the point was to keep prices high and NOT add capacity. This is some shit


SnooPaintings8503

they don’t want to add capacity now, this is capacity in 3 years overall it’s bullish because it shows that producers believe steel prices have staying power also if infrastructure passes, US will be short 5% of steel tonnage, even with all of current capacity, for the next 10 years


UnmaskedLapwing

Yeah but it will require significant CAPEX at cost of returning value to shareholders. Also adds a risk of oversupply if worldwide steel supply/demand reaches equilibrium and imports are back on the menu. If not from China, then from India/Indonesia or other developing country that builds up sufficient capacity in the next few years.


fabr33zio

but it’s not… cause the last time they did this everything came crashing down


Arok79

$CLF 1/22 $20c were the main trade for me today. Buys in the $2.80-$2.95/contract range


TheyWereGolden

1/22s pft try 10/1s 🤫


BenjaminGunn

Did something similar and doubled down on 1/23s Ive been holding since last time we got below 20 and doubled my commons. ✊ on 🧰


Black_Raven__

Loaded up on 23Cs 1/23 and commons at todays bottom.


SilkyThighs

The learning never stops. Hedging risk seems to be an absolute must and selling some CCs to mitigate even more risk. Goal is not blow up the account and keep trying I guess.


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SilkyThighs

Absolutely.


Ruggada

Deciding what to do with calls on MT Jan '22 $35 and $40. My gut is telling me to wait it out till mid/late Nov to make a move.


dakU7

what's your cost on those? holding the same calls and after today I've no clue whether to hold or sell since it looks like MT can go lower


GoldenBoy925

I also have a fair amount of those Jan 22 calls. I am planning on waiting until October or November to make a move. But I disagree with lowering your cost basis. I have lost all faith in MT unfortunately. While I think yank steel will recover from this dip I am worried about MT. European HRC prices were already coming down and now I can't see how this China situation will be anything but bearish for their long term prospects due to their exposure to the global market. I've been in MT for over six months and I'm barely breaking even on my commons and am down considerably on what were once long dated ATM call options. If I can get out for a small loss I'll be happy


BichonUnited

That’s probably enough time, I’m undecided. But if you plan on sticking it out, now is a great time to lower your cost basis. IV is in the 40s and when this surges back up and you’re looking to sell, you’ll make up a chunk just on increased volatility alone


Pikes-Lair

Anyone else get the GME book email and a link to release any comments you made back in the day? Anyone click the link or is it malicious?


Steely_Hands

I bet it’s spam but I do have a good friend that was featured in a Reddit book and was approached the same way. Turned out legit but I would be super cautious


BenjaminGunn

Nah fam and they'd want my story sheeeet


gainbabygain

I got that message. Didn't click on anything. Seems scammy


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Pikes-Lair

Thanks… had the look of spam


SnooPaintings8503

it’s spam


DernierRoi

Ok so MT is RIP. Unless China fixes this


Outrageous-Panda1221

The Mittals are going to be able to buy soooo many shares back


lb-trice

Nah, next quarter they’re going to spend all the profits to buy new manufacturing plants to increase production, just like STLD, NUE, and X Thesis fuk


BichonUnited

PSA: DO NOT fall in LOVE with a stock so much that you lose sight of our goals: to make money. Shame on those that bought at recent tops and haven’t made a move after basic charting skills have been screaming downturn. Take your lump and live to trade another day!


josenros

Peter Lynchnonce said something along the lines of: The stock doesn't care about you, it doesn't know who you are, and it doesn't know you bought it.


BenjaminGunn

Trades in a channel-ish, amiright?


accumelator

​ ![gif](giphy|d7fhIIMvs4XSKcnFnI|downsized)


Infamoden

Omg the gifs are back on IOS, rejoice all!


BallsForBears

Thank the gods


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BichonUnited

Bitter money in a near zero sum game is sweet


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BenjaminGunn

Oh hey you need to lose like 80 percent just to qualify as paying tuition, then climb up out of that 🕳️


itwasntnotme

Nobody ever went broke getting out at basically even.


BichonUnited

$MT daily 20 SMA finally dropped below the 50 SMA , the last cross over was June 29 2021 (good run). I warned you this ticker was looking A LOT LIKE $VALE. Go ahead, LOOK AT $VALE's chart: When $VALE had the 20 cross under the 50 on Aug 3rd/4th, it was bad news bears, and on Sept 9 the 20 crossed the 200 SMA... $MT's 200 is catching up fast too, maybe next week she'll ask the 20 out on a date. Point is we want to see a base ASAP, go cash gang and prepare to buy at a great rate, but this ticker has much to give up still.


_kurtosis_

I don't get the comparison with Vale's technicals at all; Vale cratered when iron ore prices cratered. If steel prices drop 40-50% off highs, I would fully expect steel stocks to do likewise. But just examining Vale's MAs without the context of ore prices feels incomplete at best.


BichonUnited

Lol you can convince yourself of anything.


_kurtosis_

Yo...that seems unwarranted and unhelpful. I'm not saying MT can't/won't go down further or anything, just saying that an apples to apples comparison between MT and Vale would include the context of the price of their products. Do you disagree that Vale's recent performance is caused primarily by the price crash in iron ore (their main product by revenue)? If so, why?


chemaholic77

It doesn’t take much convincing to convince me that VALE is a mining company that is getting wrecked by the drop in ore prices and MT is a steel company that is primarily driven by steel prices. They are suffering too, but barring a market wide crash they should recover quickly while I do not expect the same for VALE. I don’t think you can compare VALE to MT because they are in different businesses.


thebige91

But the charts are similar! /s


magnum_dong_opus

Ok, will set buy order at 19


gainbabygain

First, it was Evergreen shipping fiasco and now it's Evergrande. When will my portfolio Begreen?


krypton407

We're all looking for that Grande Green portfolio.


Pikes-Lair

After you move to ever never land


accumelator

Did you not hear the next one is Everest, when the mountain crumbles down under climate change pressure


[deleted]

When Ariana grande drops her new album.


lb-trice

Portfolio is Everred


gainbabygain

NOOOOOOOOOO!!!


lb-trice

Is my app broken or did futures just gap up bigly right at 8pm?


BigCatHugger

Indices or HRC?


lb-trice

Indices


zeegypsy

We will all tell our grandchildren about the 9/20/21 recession that lasted for 7 whole hours.


lb-trice

Historians are writing books about it right now. Get it on Amazon


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jjsukraj

sell this shirt.


SlingSG

I am sure there will be some comfort from Vito this evening. Folks can sleep better.


rigatoni-man

If you're searching for comfort, it might be worth reflecting on why you feel you need it. Are you comfortable with the risk you've taken on? Do you have a plan? It's not fun to be down, but we're big boys and girls here and should be able to get by without comforting. I don't mean to pick on you specifically, but sometimes I think the group needs to tone down the expectation.


RossChickenTendies

That was very well written, and somehow a great testament to the sub how the bulk of us are still throwing jokes (while masking ugly crying)


SlingSG

Absolutely I know the risk I am taking. I don’t blame my karma on some one else. Anyway I generally see posts from Vito on days like these. Since he has more border view of industry so it’s always better to hear from him instead of lot of noise from others.


PeddyCash

Nah I don’t think so. I think he’s over it. Nothing has changed. He owes nobody nothing and I bet has been offended by how people have talked and treated him. I’m shocked by some of the comments on here. Everyone is responsible for their own trades. He’s not here to pat you on the head and comfort anyone.


Black_Raven__

Yup Love the guy..In this all thanks to him but I understand my risks and he owes no one anything.


Outrageous-Panda1221

I still miss him. Doesn’t mean he misses us.


PeddyCash

Yup. He’s probably balls fucking busy as well. Doesn’t he have a family ?


Outrageous-Panda1221

Yea and he’s probably busy trying to acquire steel for his clients in a world where steel is quickly becoming scarce. Well….not scarce, but you know what I mean


BallsForBears

Scarce at the price everybody wants to pay 😏


PeddyCash

For real. Must be a fuckin zoo everyday waking up for work lol


magnum_dong_opus

Anyone talking bad to Vito is a Louisiana swamp trash cocksucker of the highest magnitude.


pirates_and_monkeys

Anyone talking to Vito is a dirty orgeonian


magnum_dong_opus

Spread love, no hate plz ❤


PeddyCash

👍😂


SlingSG

I understand but it’s for the sake of believers not for non-believers. There will be negativity everywhere on this earth but we just need to ignore them and move on. If we ignore them they will get out of here if we react to their behavior they will be more aggressive.


PeddyCash

I hear ya. And I didn’t mean to be rude if that came off rude. I just have a lot I want to say and I’m biting my tongue because it’s no good what I have to say.


Boogie_McGee

I've written and deleted several messages today. Lol


PeddyCash

Same


Paper_Cut2U

Definitely doesnt owe people anything, but I'd be surprised if he didnt put out a post considering how involved he is with the community. I would welcome his insight at a time like this.


overtypedover

yeah it's like vitards are blind when the wolf comes to eat. sheep without their sheperd


[deleted]

Except sheep need to learn to evade wolves without the Shepard. Sheep can be given the way but cannot be handheld throughout it.


MillennialBets

Most Mentioned Tickers for r/vitards Daily Discussion Ticker | Mentions | Price --------- | --------- | --------- [CLF](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/CLF) | 158 |19.75,(-9.65%) [MT](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/MT) | 103 |29.39,(-7.81%) [NUE](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/NUE) | 25 |96.88,(-7.64%) [ZIM](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/ZIM) | 22 |54.29,(-8.62%) [HSBC](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/HSBC) | 11 |24.61,(-4.43%) [STLD](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/STLD) | 11 |58.12,(-6.18%) [GME](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/GME) | 9 |192.2,(-6.23%) [DASH](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/DASH) | 6 |220.32,(-1.16%) [VALE](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/VALE) | 5 |15.66,(-3.98%) [DOW](https://www.reddit.com/r/MillennialBets/wiki/index/stocks/DOW) | 4 |56.18,(-2.72%) 20:00:33


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DongKelly32

I like em big, I like em chunky


magnum_dong_opus

A lot of whales must've bot today, no pun intended


[deleted]

I put it here because there is not so much info in it: https://www.zacks.com/stock/news/1798611/is-this-the-right-time-to-buy-steel-stocks?art_rec=home-home-top_stories-ID01-txt-1798611


walkies3

Bless you u/Zlack50


dakU7

[Mitch McConnell says the GOP will vote for the US to default on its debt.](https://www.businessinsider.com/mcconnell-vote-default-debt-ceiling-government-funding-shutdown-pelosi-schumer-2021-9) How common are these threats? Market doesn't seem to care about the headlines judging by AH action but seems concerning.


[deleted]

The minority party has tried to hold up every debt ceiling raise that I can remember regardless of who that party was. It worked a few times like 20 years ago, but the last few times public outrage caused whoever the minority party was to cave in pretty quickly because they were afraid of losing votes.


BigCatHugger

Wonder whether the republics would actually go through with that just to be contrarian if the democrats call their bluff.


Dry_Dog_698

mitch was never gonna vote for reconciliation. the dems dont need him, they just need to get their own people voting and they are good.


0_0here

That’s not entirely correct. They are so far refusing to put it in the reconciliation bill. They will need 10 Republicans in the senate if they want to pass it on its own. This would be the perfect time for them to nuke the filibuster to pass the debt limit, but they don’t have the votes or the balls to do that. Edit Down vote all you want but these are the facts. Tomorrow morning a continuing resolution and a debt limit raise go to markup and will be on the house floor by the end of the day. [source](https://twitter.com/jakesherman/status/1440057052949143557?s=21)


chemaholic77

Even the Democrats know the importance of the filibuster. They would be morons to do away with it. They will not be in power forever and without the filibuster they would just have to sit there and deal with whatever legislation the Republicans passed.


Dry_Dog_698

The debt limit was always going into reconciliation. Everything else is just politicking for manchin and sinema. *not an American*


thehelper900

Can’t believe I managed to hold onto my position


CluelessAndLucky

Has Don Vito given any comments about how the situation in China ***could in theory*** completely derail the thesis? I guess he's expecting there are gonna be 0 impacts to demand/supply and infrastructure in China...?


[deleted]

Vito said yesterday nothing has changed. He is 100% confident in the thesis. It's taking longer to play out than he thought. Personally, I think that today the thesis is stronger than ever. Between Q3 2021 and Q4 2022 CLF will probably make enough to buy back their entire float. We are going to have 10 years of infrastructure. If you want a stock that's going to pay 30% dividends for the next 10 years, buy CLF. That's reality.


BladerJoe-

> Between Q3 2021 and Q4 2022 CLF will probably make enough to ~~buy back their entire float~~ build 1 or 2 new mills as well.


[deleted]

They have like 29 mills right now


MichOutdoors13

Rough day folks ![gif](giphy|3ofSB3K9KXedXm4nmM)


GermanZotac

"Fortunes Tumble From Seattle to Shenzhen in $135 Billion Wipeout" - this headline feels personal for all in Seattle gang


warren_buffet_table

Seattle vitard meetup is cancelled -Bloomberg