Gold nonsense copium rally: let's fall like a rock
Another sucker rally.
There is not much to say same story as usual, every bear market.
Commodities, mainstream assets like Tesla & Bitcoin...
First the price drops in a straight line as smart money, the "weak hands" exit.
Then price is choppy because of bagholders.
There was a first "THE BULL MARKET IS BACK HURRAH" and then another drop down with less chopiness, the whole downtrend has a smaller angle.
And then a second "BULL MARKET IS BACK 🥳" diagonal sucker rally that always all end in a straight red line.
May 6 2010 flash crash CANCEL ALL ORDERS CANCEL ALL ORDERS.
I bought some 16 June puts with a strike price of 1850.
Ideally I aim for at least $1800 which will pay really well (several times the warrants costs).
Once the dumb gamblers have capitulated I'll just buy some calls with 1-2 years expiry, I'll try to get in around the bottom but I don't know a way to magically predict where it will be (don't try to catch a falling knife). And I'll buy as it continues to go up.
There is not much to say same story as usual, every bear market.
Commodities, mainstream assets like Tesla & Bitcoin...
First the price drops in a straight line as smart money, the "weak hands" exit.
Then price is choppy because of bagholders.
There was a first "THE BULL MARKET IS BACK HURRAH" and then another drop down with less chopiness, the whole downtrend has a smaller angle.
And then a second "BULL MARKET IS BACK 🥳" diagonal sucker rally that always all end in a straight red line.
May 6 2010 flash crash CANCEL ALL ORDERS CANCEL ALL ORDERS.
I bought some 16 June puts with a strike price of 1850.
Ideally I aim for at least $1800 which will pay really well (several times the warrants costs).
Once the dumb gamblers have capitulated I'll just buy some calls with 1-2 years expiry, I'll try to get in around the bottom but I don't know a way to magically predict where it will be (don't try to catch a falling knife). And I'll buy as it continues to go up.
The previous ATH is 1920-1925.
I don't think we can pinpoint the top easily or at all.