kenatech, also…never in oil’s history had it ever crashed that low, that fast. And yet we still made money on it. Many people (outside of LI) gave up on oil stocks in that final sharp dip in the downtrend. After it wiped out all of the weak hands, the uptrend could then begin again. And valuations got so ridiculously low that institutions stepped in as well. Those short oil stocks had to cover quickly as well, causing a massive “V” bottom in it.
Reply To: XOPSean Hyman2021-02-10T15:47:43-06:00