I want to be a buyer here, but past experience has convinced me it's best to be on the short side when you see an aggressive selloff like the one shown here, or just stay out of the market altogether (which is what I will be doing now).
Price will have a tendency to spurt up, committing some buyers to a false rally, then continue down for another selloff. The buy response tends to come more slowly than the selloff.
So if you are looking at this and thinking "hmmmm, maybe it will go up the same way it came down..." you will probably have a bunch of losses until you decide there are better ways to play the market. I speak only from experience. Buyers usually will return, but it will be a gradual build up.
The build up is like rain accumulating in a cloud. The selloff is the lightning strike. :)
Price will have a tendency to spurt up, committing some buyers to a false rally, then continue down for another selloff. The buy response tends to come more slowly than the selloff.
So if you are looking at this and thinking "hmmmm, maybe it will go up the same way it came down..." you will probably have a bunch of losses until you decide there are better ways to play the market. I speak only from experience. Buyers usually will return, but it will be a gradual build up.
The build up is like rain accumulating in a cloud. The selloff is the lightning strike. :)