- Jul 8, 2000
- Reaction score
I think most of the socially known gorrilas predicted these dips starting on Thursday and really dipping on Friday. With so much vested, they have studied this in their sleep.
Definitely have to expect massive dips at this stage, and they will only get worse. It's been their game for years now. Thankfully, most people have learned that the best way to combat them is to simply hold and not give them what they want (for you to sell).
I will admit that I did not foresee us breaking through that $45 support level today, but that was clearly an unnatural set of red candles from a chart standpoint and it appears things are heading back up now. I thought if we got under $42 today, we'd likely go as low as $37-39, which was where we landed briefly after the run to $70, but we did not.
At the end of the day though, as indicated, this is all psychological games at this point, with some fairly significant catalysts coming over the next 5 to 8 trading sessions, including the approval of DTCC-2021-002/005? on 06/21, which will give the SEC/DTCC the authority to force margin calls on these over-leveraged institutions.
EDIT: Looks like we actually DID go to $39.71 briefly. I must've missed that while I was away for a little while.