Fear is melting in the general markets.  It's time to invest in something you believe in:

we've got the Dow, S&P, Transports, oil all over the October highs.  I called this back on 10/6/11.

the next hurdle will be the May highs which i think we exceed as well.

this is all a result of the Liquidity Pump which is on its way and subtly being enacted currently.   

this will jack Bitcoin big time in a continuation of Wave 3.

you guys see this?  you better get the heck out of the way.  that light coming down the tunnel is a train:

the longer this sideways slow grind up goes on, the higher the chances of a break up.

at this moment, the Dow is up 100 and entering a new trending phase UP.  the USD is down and UST's are selling off

even oil, gold and silver are up.

RISK ON!

everyone has to say this at least once in their lifetime here on the Forum.

it just rolls off your tong.

sorry, i couldn't let this one go.

Bill, i don't think Trace's article can be pinpointed as the trigger.

Many of us on our blogs and here within the community were calling for the bottom.  it was quite evident that the selling pressure had abated and there were plenty of indicators that i've outlined ad nauseum around here that called for the bottom.

it was time.

the USD is starting to head down quickly now in the overnite.  that means risk ON.  get out of the way if you're short Bitcoin.

i would get out of the way if you're short.

pay heed to what i've been posting about overnite futures, etc.

Dow futures ramping even higher now.  Up +50.  USD down -0.2%.

the flow of fiat is starting to accelerate.

the Reflation is here.

Asia's stock mkts are up tonite.  the Dow futures are up +40.  the USD index is down.  the VIX is down.

the Dow has cleared the Oct highs and will probably clear the May highs.  

fiat looking for the next big thing...

so what ever happened to this?

does the base price dynamically adjust?

why don't you ask your Dad?

seriously, I think he should do a more technical piece on Bitcoin; a full Elliott Wave Theory analysis.

anyways, i don't think we test $2 ever again.  we already had a classic double/triple bottom that lasted over a month at the bottom of a classic descending wedge that lasted 4 months.  i can clearly count 3 waves down from June which indicates a correction.  the intensity and strength of this upward move to 7.2 has been too strong and cleared way too many resistance levels for this to be retraced all the way back to the bottom.  we are in wave 3 UP and ain't coming back.

this analysis fits extremely well with the fundamentals of whats been happening in the community (Bitcoinica advent) as well and an oversold sentiment that was extremely negative.  everyone thought it was the end.

we just only finished minor wave 1 of 5 of major wave 3 with this move to 7.2.

what would be classic is if we get a false descending triangle signal at 6.0 like we got at 7.2 with the false ascending triangle signal.

Gold is not doing well.  Bitcoin anyone?

they are rebuilding and dwarfing the asks.

we're going back up ppl.

Dow did a typical checkmark reversal and ended up today.  the USD was down. 

the Reflation has begun and USD have begun to look for the new safe haven other than gold:  Bitcoin.