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An overview and some perspective on $OMI
- Has $OMI sold off more than most (including myself) expected? Yes.
- Is the team performing? Are the fundamentals getting stronger? Yes.
- Do markets tend to overreact both to the upside and to the downside? Yes.
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- Has $OMI sold off more than most (including myself) expected? Yes.
- Is the team performing? Are the fundamentals getting stronger? Yes.
- Do markets tend to overreact both to the upside and to the downside? Yes.
Keep reading
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The reason I bring up the astronomically high YTD peak and actual performance of $OMI is because it puts things into perspective.
No matter what the market, no matter what the project, there is always a deep correction that makes people feel very, very uncomfortable.
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No matter what the market, no matter what the project, there is always a deep correction that makes people feel very, very uncomfortable.
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Markets have a tendency to overreact in both directions
I bet when $OMI was rocketing higher in March many of you felt as if it was never going to stop going up. I also bet that the same people are the ones who are currently feeling like $OMI is never going to stop going down
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I bet when $OMI was rocketing higher in March many of you felt as if it was never going to stop going up. I also bet that the same people are the ones who are currently feeling like $OMI is never going to stop going down
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Don& #39;t allow your emotions to become correlated to price action. Always view things through an objective lens as emotions in trading just cloud your judgement
$OMI
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$OMI
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With that out of the way, below are the two scenarios I see playing out.
This is my base case scenario
I believe the low was put in yesterday on the sharp sell off down to a low of ~$0.00415
I see price consolidating around $0.0051 and then breaking higher
$OMI
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This is my base case scenario
I believe the low was put in yesterday on the sharp sell off down to a low of ~$0.00415
I see price consolidating around $0.0051 and then breaking higher
$OMI
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This is the second scenario I see happening but assigning a much lower probability to it occurring
Another sharp leg lower down to the support level at $0.0034 followed by a very aggressive move back higher
$OMI
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Another sharp leg lower down to the support level at $0.0034 followed by a very aggressive move back higher
$OMI
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