The worst feeling isn't a drop—it's watching it rise when you're not holding any. $INIT is up 80.61% today, trading at 0.3897. It surged another 13.87% in just the past hour, and it's only a whisker away from its 24-hour high of 0.3950.
Yesterday it was hovering around the low of 0.1915; today it's at a whole different price. Those waiting for a pullback this morning are now waiting at an even higher price. Put simply: with a rally that can climb another 13.87% in an hour, buyers jumping in are betting it won't stop, while those sitting on the sidelines are betting it has to take a breather.
I'm inclined to sit tight and watch for now, because 0.3950 is right overhead. Getting above it is one thing; failing to break through could leave a long upper wick. But if it really holds above 0.3950, I'll change my mind immediately and admit this rally isn't over yet.
At this price, do those who haven't jumped in still have a chance, or can you only watch a rally like this from the sidelines?
$INIT
#INIT #MarketAnalysis
Yesterday it was hovering around the low of 0.1915; today it's at a whole different price. Those waiting for a pullback this morning are now waiting at an even higher price. Put simply: with a rally that can climb another 13.87% in an hour, buyers jumping in are betting it won't stop, while those sitting on the sidelines are betting it has to take a breather.
I'm inclined to sit tight and watch for now, because 0.3950 is right overhead. Getting above it is one thing; failing to break through could leave a long upper wick. But if it really holds above 0.3950, I'll change my mind immediately and admit this rally isn't over yet.
At this price, do those who haven't jumped in still have a chance, or can you only watch a rally like this from the sidelines?
$INIT
#INIT #MarketAnalysis