/biz/ - Business & Finance

>>57546671
That's funny I bought XOM today also, for basically the same reason. Oil is just so fucking cheap right now. I realize it's supply driven, but at a certain point it has to just go nuts imo. I mean I'm paying the same at the pump as I did over a decade ago, basically. This will not last.

I expected HRC to go down. We're like 70% recycled steel in America, lots of it is produced in mini mills, scrap is going down, so steel should also. When scrap goes down, so does steel, roughly. I'd love to get some other anons excited about this relationship because it's so ridiculously correlated there has to be something we can do with this. Check out this correlation analysis I did, it took data from now until back to 2016. If you're not familiar with correlation analysis, basically 1 is perfectly correlated, -1 is inversely correlated, and 0 is not correlated. So scrap is .87 with steel! Lately, steel stocks have been on quite the run despite steel going down. When scrap starts going back up enough, I'll likely buy steel stocks and hope that they go up, but it's not perfect. I think there needs to be a bit of technical analysis (which I don't know) mixed with quantitative investing (which I'm doing in a very rudimentary form). But there is something here and I really think we can make some money at this.

>>57514923
>>57516803