XBC and other green stocksThis crazy market is sooooo manipulated!!! I'm learning a lot about the markets and trading, but at a huge loss right now. Will probably add more on this dip and save some cash in case prices fall further. The big institutions (the "smart money") buy to sell and sell to buy. i think they're driving down prices now to cover their shorts and/or to buy and they'll sell to retail investors as prices go up. We're actually probably "playing" against computer algorithms. Last week, as soon as the QQQ hit an important resistance level at 341, the algorithms triggered a sell-off. it's no coincidence, I think, that all the green and EV stocks are tanking the week of Earth Day. This same week, the US gov and china agreed to co-operate on a green recovery. The Cdn gov, in their budget, allotted a good portion to greening up the economy and later this week, world leaders will meet virtually to discuss plans for reducing global emissions. I would advise you NOT to SELL your green stocks. HOLD on, possibly buy more onn the dips and turn off your computer for a while.
I am, however, a little worried about a possible market correction (of up to 10 %). The Nasdaq, S & P 500 and DIJA have all reached record highs, and have started a pullback. Bond yields have also peaked and started to roll over. BTC has reached a record high and has begun a pullback too. That's why i want to keep cash on the sidelines in case we go into real correction territory. regardless, I'm pretty sure that most, if not all, of these green stocks will bounce back and reach all time highs in the next few years.
I regularly watch "Figuring out Money" and the "Stocks Channel" on Youtube to give me a possible idea of where markets are heading. I also tune into "Heresy Financial" for a more macro outlook. The producer of "Heresy Financial", said that last year in January and February 2020, (on hearing about Covid )the big money were already selling their stocks. It wasn't until late February, however, when retail investors started selling, often at a loss.
Anyway, BEST OF LUCK to all!