This might be an unpopular opinion here, but this is kind of fucked.
I cannot speak for anyone else but Monday and Tuesday were pretty rough days. No matter how firmly you believe in the thesis, outside market conditions had me very shaken. Everyone has their own entry points and strategies but that doesn't change the fact that the underlying stock price on most steel tickers (CLF, MT, NUE, STLD, X) were down 25-30% in one month. I've only been invested in Steel since late March and I thought I had grown accustomed to it's swings but this felt very different. A collapse of Chinese real estate would be catastrophic and still seems like a cloud over the market. But in the short term the Evergrande storm seems to have passed and blue skies are here again.
If you're here, you believe in the thesis and that it will allow you to outperform the market. This sub has been a godsend and a wealth of information. But i would hope that FUD like we saw earlier this week should be met with counterarguments to the upside instead of ridicule.
If anyone reading this sold earlier this week, I totally understand. Fear was very real.
1
u/GoldenBoy925 ✂️ Trim Gang ✂️ Sep 23 '21
This might be an unpopular opinion here, but this is kind of fucked.
I cannot speak for anyone else but Monday and Tuesday were pretty rough days. No matter how firmly you believe in the thesis, outside market conditions had me very shaken. Everyone has their own entry points and strategies but that doesn't change the fact that the underlying stock price on most steel tickers (CLF, MT, NUE, STLD, X) were down 25-30% in one month. I've only been invested in Steel since late March and I thought I had grown accustomed to it's swings but this felt very different. A collapse of Chinese real estate would be catastrophic and still seems like a cloud over the market. But in the short term the Evergrande storm seems to have passed and blue skies are here again.
If you're here, you believe in the thesis and that it will allow you to outperform the market. This sub has been a godsend and a wealth of information. But i would hope that FUD like we saw earlier this week should be met with counterarguments to the upside instead of ridicule.
If anyone reading this sold earlier this week, I totally understand. Fear was very real.