This thread is honestly hysterical, as with many on HC...
The drop today could not be completely unexpected. A major 100% fib target was perfectly achieved yesterday,
and markets are down today. As a
trader, I would have been taking (at least some) profit yesterday, which should
mean nothing to long term fundamental investor...
It is still very much in an uptrend, (except perhaps on small time frames for day traders) in fact, it has and still is
in a parabolic advance (see weekly chart).
The last correction saw a 32% retracement, which still did not break the long-term uptrend. Nothing goes up in
a straight line and there is a huge difference between trading and investing in terms of when one should consider
an entry and when to take profit... As a swing./position trader, I would not touch this right now, being on the sidelines,
but I might if I was a pure investor.
It never ceases to amaze me how fundamental investors, medium-term traders, and day traders come together on
one thread and argue with each other, without realizing there is a unique context to each of those perspectives and
very often they are valid from that point of view...
Some content is indeed garbage and without basis, but there are so many accusations of down ramping & up-ramping
that is not due. It does not help that there is so much childish excitement on the bullish side and doom-gloom on the
other. I never heard a real trader or investor discuss a stock in the terms and tones so often used on HC...
No one can predict stock or market with prophetic consistency... Fundamental investors need to keep track of
fundamentals as they develop and chartists need to keep track of charts
as they develop... It's about possibilities
and how to profit from them...
I do not believe that even the real "down-rampers" or "up-rampers" on HC have any meaningful effect, over any important
time frame, on the share price of anything but the most illiquid of stocks.
I think there is a good chance this will test circa 7.60-7.00, but I may very well be wrong. Next possibility is a retest of
the parabola. Until any of those happen there is no point in discussing further downside from a chart perspective IMHO.
If an investor is concerned with those possibilities, they probably don't know much about investing...
Apologies for the rant, but not much trading to do today for me, other than managing a couple of positions....
GLTA
(20min delay)