Could get a run here Short Squeeze, page-113

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hindmost

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12/06/20

10:10

Post #: 45179989
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Originally posted by Shorterskillme: ↑

I'm looking for the "gap" at 23.5 ;-)

Let's be realistic though, the whole market has risen out of control beyond any pro's expectations, it was due for a correction. The big boys will look at this as a buying opportunity having missed the first rise. Billions on the sidelines.

The reasoning behind oils drop though is the fear of a second wave and markets closing down again and yet the U.S say they wont be shutting down a second time. So realistically the demand for oil is still coming back and will likely support the price.

It's unfortunate SXY couldnt continue it's rise but imo this will just be a pullback before we continue our recovery.

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You are so right saying "the whole market has risen out of control beyond any pro's expectations, it was due for a correction.". Dow down 6.9% last night, Oil down 1.7%. Interesting times ahead.

I sold out almost everything except energy shares (BPT, SXY, WPL) a couple of weeks ago, and have had pain as the market powered ahead every day since. But I'm pretty sure it has been a relief rally with no substance. Now we will find out. But these things aren't easy. Even if I'm right, I still have to be right one more time for buying back in. If I miss that I've wasted my time and money.

But I won't miss out on SXY!

SXY Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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