Personally started building spot exposure for WIF
Few reasons:
- Bears didn't really achieve anything dramatic during this corrective move. The head and shoulders meme is just a meme once again
- Bull market corrections were needed, and they need to be scary. The more people are telling you "its over, WIF is going to zero" the healthier the correction has been. Long and slow consolidation period will kill enough excitement and no deeper corrections needed necessarily
- Memes have been the strongest performers so far and I dont see how and why that would change anytime soon as long as we are in bull market. So why wouldn't I just left-curve this and bet the strongest meme in the market?
Everything looks good for me.
Not financial advice, more like a journal for future self to explore.
Few reasons:
- Bears didn't really achieve anything dramatic during this corrective move. The head and shoulders meme is just a meme once again
- Bull market corrections were needed, and they need to be scary. The more people are telling you "its over, WIF is going to zero" the healthier the correction has been. Long and slow consolidation period will kill enough excitement and no deeper corrections needed necessarily
- Memes have been the strongest performers so far and I dont see how and why that would change anytime soon as long as we are in bull market. So why wouldn't I just left-curve this and bet the strongest meme in the market?
Everything looks good for me.
Not financial advice, more like a journal for future self to explore.
Comment:
Not sure this is the bounce that takes us off the range, but it's encouraging. If/when we get higher high, I'll add during the next higher low.