RE:Any opinions on support level? Timing?Looks like support is just under $10 at $9.91.
I really have to learn to trust these charts a little more.
The ascending wedge on the weekly proved pretty accurate.
I could have sold around $17 and rebought and pocketed 70% or so.
As it is if it does dip below $10 I'll use the accumulated divies to buy little and try to make lemonade from lemons and try to learn to do better.
GLTY and all
Yasch22 wrote: Hard to believe this is down 30+% in 12 trading days.
Or maybe not so hard. It seems like we have a number of huge dips every year, and they happen whether the general trend is down, like 2017 to The Day of the Covid, or up (March 2020 to early June of this year.
Almost every year there's a big dip of 20% or more at some point between April and September. Of course, the timing and length of that dip is nearly impossible to predict, though I've told myself countless times over the past 20 years to sell everything in May.
With some of my other stocks, I should have bailed as soon as Russia invaded Ukraine. Definitely a month later, when we realized Ukraine was hanging tough, and everything was turning into a drawn-out batte of attrition. Think of the long-term havoc on new government spending to support Ukraine, to find workarounds to food blockades, parts & material shortages, and on and on.
I thought oil & gas would escape any sort of downturn because of the world's desperation to cut off Russian supply. Other factors are obviously messing up that thesis!