I took a liberty with your chart. It dodged the 50 day moving average and considering the meteoric rise, I can understand why many were not phased by this panic selling.
Ladies and Gentlemen, the race is not for the swift but those who can endure, and this was panic selling pure and simple based on some heavy hitters taking profits.
Not to be patronizing, but emotional trading is what does everyone in at the end. Set your stop losses where your comfort zone is and shut the computer off. You can become mesmerized in the moment.
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