Final Thoughts
March 7, 2016
Final Thoughts
Written by John Packard
Ted Cruz said it best the other night while debating Donald Trump, “breathe, breathe, breathe….” While speaking to one of my longtime steel buying contacts we began discussing the mentality to this market as there are many “unknowns” such as exactly what the heck is going on in China. We were discussing the difference between experienced traders, who are not taking positions and have been relatively calm over the past few weeks. Meantime, those who haven’t experienced a “push, push” market are, “getting caught up in the this [frenzy], it feeds on itself after awhile.”
Traders are nervous. Steel buyers are nervous and everyone needs to take a few calming breaths before jumping in (or out) of this market.
