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If I'm wrong, I'm wrong. I don't carry positions overnight when trading, as a rule, so it really doesn't matter to me if my long term outlook is wrong.
Taking in the big picture though, a price needs to be paid for all the partying and excess and spending and free money that flowed forever...then you add in the whole COVID thing...all that money spent...the lockdowns...the economic and jobs impact of THAT whole thing....
We haven't even yet begun to pay the price for that in terms of the market, IMO...so...that's why I say go back to 2008 low and work from there to see where this market might end up.
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