JCT dumped the entire market just after being up more than a dozen points—did you really get shaken out by the dealer and left the train?
This dealer of JCT really doesn’t seem to have much backbone. It rose more than a dozen points and turned around to dump, washing out all the chasing retail investors and leaving them completely confused.
$JCT But it’s obvious from the order book that this is bait-and-fake selling to flush out weak hands. The contract funding at the lower levels hasn’t left. The main force’s cost basis is pinned around 0.0035–0.0037, and it won’t be unlocked until November—so there is absolutely no near-term selling pressure.
Once the bears have accumulated enough, they’ll directly fuel a big surge. Before it breaks below 0.0035, feel free to scale in and buy long positions in batches. Are you going to run just because of this tiny dump?
#JCTUpdate