I bought back when you did, but bailed back when the ~$20 floor didn't hold. Judging from the RSI, it seems like this will be the final push down in the near term... Hope it pulls around for you.
Aresj
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What a disaster. If it makes you feel better I bought at 23 as well almost same as you!
MystryBox
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The equity market is next.
mikhail_bobrov
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@MystryBox, unfortunately FED is pumping stocks... they can not pump oil, but they can pump stocks
MystryBox
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@mikhail_bobrov, pumping to what end? To just make a lower high on the market? Because we're not going back to new highs, that would be clearly senseless and expose the market as a meaningless fraud. And once the limits of the Fed pump are exposed, then what? The crash continues even more viscously.
The Fed can print currency but it can't print employment, it can't print demand, it can't print healthy supply chains, etc. The Fed can't even print enough to fill the deflationary hole in all the debt that will soon be defaulting, nor the massive tax shortfalls that will bankrupt state and local governments. The world is about to discover the limits of central banking, and it will be quite a wake up call.
mikhail_bobrov
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@MystryBox, I don't know how long they want to pump it, but it's clear to everyone that stock market and economy are 2 different things now.
MystryBox
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@mikhail_bobrov, anyone that really believes that shouldn't have any long term investments in the market.
The market is being manipulated, but it's a temporary thing IMO. Eventually the real state of the economy will be exposed by the market no matter what the Fed does.
The crash that kicked off the great depression had an initial 50% rebound of the crash just like we've seen, then it continued back down to fall to lower lows for years. I suspect that is coming next.