/biz/ - Business & Finance

>>27337189
>>27337215
>>27337619
>>27337715
>>27337820
I'm holding 500 shares and 19c/20c's for Apr. I wiped out my CLF gains this month, which was only about 3 grand, buying around 17 then being forced to average down.

That said, I'm not really stressed about it. They're going to crush their 6th earnings in a row. Question is, will there actually be a run up before or after. STLD beat earnings and went down. Either way, I'm holding. I closed some January calls on New Year's Eve two days prior to the last big run up which would've netted me about 15K. Learned my lesson.

>>26283068
I've been buying everything I can between 16-17. Im also selling some covered calls and have some 19c/20c for april. CLF is going to crush Q4 earnings. The prices of steel have been nuts this quarter. Not to mention almost every week they get a price upgrade from a different analyst.

CLF 14$> Monday. Vale also might recover quickly so get those Calls/LEAPs early bby

CLFbros.. Steel demand in the U.S. is increasing, but nowhere near the last steel crisis in 2008:

>Obama was elected president in 2008 defeating Sen. John McCain.
And we all know Biden won this one. So there's that.
>Skyrocketing raw material, energy and freight costs, coupled with tighter supplies because of falling exports from China in 2008.
Situation seems to be a little different now but China is still increasing their ask/production and I'm assuming the market will stay competitive under a Biden administration.
>Great recession hit in 2008, steel prices/production plummet, but somewhat recovered in years to come (2009-2011)
COVID recovery might be some similarity here, but not the same.
>2008 U.S. mills were cranking out steel at 90% of their capacity to capitalize on inflated hot-rolled market prices in excess of $1,000/ton.
The current price for hot rolled steel is $960/ton according to CME Group which is $359/ton more than 2019. Of note, $1 in 2008 is equivalent in purchasing power to about $1.21 today.

For us to see some sort of break out what do you think needs to happen?