I definitely wasn't giving financial advice yesterday in the hours before the crash, while everyone was calling for "the Moon." However, I hope you took my idea, did your own research, and made some safe moves. I had liquidated significant amounts of ADA a little over a month ago, put it on the MANA train, and went back to ADA last night with a smile on my face. The following isn't financial advice either. I think ADA is positioned to retest the bottom before playing out the scenarios discussed over the past weeks. My friend was on the phone with me, swearing, wondering where to buy the dip. I told him that anything under $2 is a discount...that was advice to him, not you of course.
I wiped my charts clear today, started from scratch while keeping some older ideas that are still playing out as they were based upon last night's routing. Be careful. As I've mentioned before, Covid variants, Evergrande, regulatory rules, etc...are making this market tricky to navigate in the short term. Just below last night's low is nothing in the way of meaningful support. Weak at 1.18, 1.11, 1.07...and then it's down to .98, .87. 0.82 rings a bell from back in the day? These were the numbers on the tip of my tongue last January and again in April. I don't think we'll see them, but it is always important to prepare for the worst and celebrate when it doesn't happen. Good luck.
I wiped my charts clear today, started from scratch while keeping some older ideas that are still playing out as they were based upon last night's routing. Be careful. As I've mentioned before, Covid variants, Evergrande, regulatory rules, etc...are making this market tricky to navigate in the short term. Just below last night's low is nothing in the way of meaningful support. Weak at 1.18, 1.11, 1.07...and then it's down to .98, .87. 0.82 rings a bell from back in the day? These were the numbers on the tip of my tongue last January and again in April. I don't think we'll see them, but it is always important to prepare for the worst and celebrate when it doesn't happen. Good luck.