Horrible recession: Why are steel stocks breaking out?
- Thread starter makloda
- Start date
Quote from makloda:
Somehow these charts don't make much sense in a 'rapid global economic implosion' and 'worst depression since 1933' scenario now do they. Does the equity market have got it wrong again as the bond markets are telling a very different story
QUOTE]
Horrible recession? Are you out of your mind?
You could not prove a thing in my thread " Show me a recession" nor can you substantiate anything here. First prove your statement since you are posting a false belief and an incorrect hypothesis.
STEEL SECTOR has so much demand from CHINA and INDIA it cannt produce enough. There has been so much consolidation in our steel industry and very few are left. This is the most powerful sector in the market. STLD is my fav company I have been trading it since 2006 and has doubled and split 2 times since.
Quote from makloda:
Somehow these charts don't make much sense in a 'rapid global economic implosion' and 'worst depression since 1933' scenario now do they. Does the equity market have got it wrong again as the bond markets are telling a very different story
America has seen recession before, and survived all along. This is not even a recession yet. The Lion has just roared and the mouse is whimpering into the hole! Total doom & gloom and constant obsession with pessimism and negativity.
Here is some Technical Analysis from S&P Market scope:
" The technical conditions of the stock market showed significant improvement during the week. Weâve discussed some of them in this commentary during the week. First, as we mentioned above, the market internals have improved. Both the advance/decline lines and the new high/new low lines on both the NYSE and the NASDAQ have started to turn up. Secondly, the 50 day moving averages of all three major indexes and many stocks have turned up. Not only is an upward sloping 50 day moving average line an intermediate term bullish sign, it also provides a technical support level during any potential pullback. Lastly, the fear has subsided in the market. After falling below its 200 day moving average on Tuesday (22.68), the CBOE volatility index (VIX) has remained near that level and closed the week at 22.45. This is quite a contrast to its behavior in the past six months. Since last October, VIX has bounced off its 200 day moving average every time it fell to that level. The ability of VIX to stay at the relatively low level around its 200 day moving average in the past week suggests that the stock market could be changing its behavior after six months of a down trend. The likely trend going forward is up or sideways."
I am not here to prove anything. It is not my hypothesis, it's the bond markets' hypothesis. I am simply pointing out that there are different perceptions of where the economy is going in some cyclical equity sectors such as steel and the bond markets. Both camps can't be right at the same time. Something's gotta give.
Bond markets thrive on doom and gloom. Chronically depressed traders in that market.
Your statements " Horrible Recession" are a far cry from truth. First prove that we are in recession and than make these flaming statements. The burden of proof rests on you since you posted this original thread.
I live in Texas and it's booming here, and I buy steel from time to time and it's going up big
you call an AC/heat guy up and he'll say "I can get there in 3 weeks"
now, if you bot a 2 bedroom / 1 bath stucco dump termite farm in San Diego for $1.5 mill, it's a horror show...
elsewhere, booming....
you call an AC/heat guy up and he'll say "I can get there in 3 weeks"
now, if you bot a 2 bedroom / 1 bath stucco dump termite farm in San Diego for $1.5 mill, it's a horror show...
elsewhere, booming....