RE:Its the bleeding continues..Gimmedacash wrote: No one believed me me when I said there was gonna be a bloodbath before you recuperate your money. And its not finished. Thats why I said sell if you can't hack it and keep only small positions.
February is earnings month and its gonna be hard for everyone.
Blah Earning Season, Lacklustre quarter coming up in a couple weeks, Shorting momentum, huge acquisitions and bloated market caps with little to no earings. Uncertainty of very likely delays with the senate and your f'ing crazy to be holding now when you can buy back for much less in a few weeks into March even April. In a speculative industry, the extremes are always more extended. That's basically it.
Clearly we are heading for a $20 to $25 SP into the coming weeks ahead and right now its not even us, its the entire sector piloting back down to earth. And the shorters are making an absolute KILLING, an all out feeding frenzy!
On the one hand, all shorts aside, the retracement is needed and HEALTHY for building a long term foundation. That's the part that newbies don't get, the move from $20 to $44 was a bubble blast that was entirely emotionally led. I see Xmas holidays more as a preview of coming attractions. Will we get to $44 again, with time. But the time frame and opportunity cost of riding down into the low 20's with shares you could have let go of and then re-bought is a real question you have to ask yourself.
Holding over the past couple weeks wasn't smart and the writing was on the wall. If your long, that is several years out, to my thinking its smarter to be in cash and buy in when we get to bottom, which to my analysis is still weeks, even a month or two out.
On my side though, gone are the days of riding out the hell drops. I'm too old for that abuse. Money is real and we can forget that in bubble periods.
I had a destabalizing nightmare a week back that prompted me to sell all my MJ holdings. I don't take dreams literally, but it was a visceral and real. That wasn't what led me to selling, but it woke me up to the existential realities of downturns. They can hurt like f'ing hell.
Simply paying attention to all the writing on the wall led me to sell. If you've been paying attention, you will be in all cash now or soon. The industry simply got ahead of itself. We're pulling back to find ground and once we touch, the bulls will be back in charge. The time frame however on this is anybody's guess. In the meantime we bleed out..
All the best everyone.