Overdone?
Personally, i think the recent brutal sell off has been overdone. But I like overdone stuff (except for my steak haha), so that I can take the opposite direction, and be a contrarian. Interestingly, Fear and Greed index has reached extreme greed level 2 days ago - the first time in about 6 months.
Be greedy when others are fearful? Sold a Put on the day when the index hit extreme fear, on Tesla. Not financial advice. And it’s a risky move. Not just that, I have also picked up a few shares over the last few days
Anyway, market doesn’t care about what we think . An oversold market can remain oversold for some time. We were sitting at key support levels for some of the stocks and indices. Good to see a nice bounce yesterday.
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Stormy Stock Market! Further DOWNSIDE Ahead??
https://youtu.be/n0ajLGobxx8
$Apple(AAPL)$ $Tesla Motors(TSLA)$ $NVIDIA Corp(NVDA)$ $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ Trust-ETF(QQQ)$ $ARM Holdings Ltd(ARM)$
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It is difficult to say definitively whether or not the recent brutal sell-off in crypto has been overdone.
The sell-off has come at a time when the overall cryptocurrency market cap is still relatively small.
The sell-off has been indiscriminate, with all cryptocurrencies experiencing sharp declines.