How things will progress over course of evening.

[chesthing]

Man I wish I knew what the hell you guys were saying

I just look for a reasonably low price, try to get in there, and hold on.  

All this technical trading talk is hurting my head, lol

Bottom line: Matt bought in high $400's and after watching trading activity has picked up his chips after a nifty profit of $50+ per 20 coins and waiting for the next crash into the $400s (in other words he's shorting). The rest is just blah blah blah.
I've got a much simpler method. Take a look at a current chart, I like Bitcoinwisdom because it's easy to read for dummies like me. see the way the price has dropped since a steady couple weeks in the $800s? it's like a ball bouncing down stairs. You get a drop and a bounce back up, each time the drop is lower and the bounce back up is lower than the last bounce up. The trend is continuing, and I agree with Matt about what will happen next.

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[Miz4r]

But you can't buy at the absolute bottom, only if you're really lucky. Almost always when you buy the price will go lower again afterwards, and probably more than you are comfortable with. So why not just choose a price you think is acceptable based on trend analysis and stuff and simply place buy orders there? I'm pretty sure you will get a better price this way rather than waiting for all your indicators to align and you are 100% sure we're in an uptrend that will continue for a while.

Go tell that to all the noobs that were told by Bitcoin Nutter that $800 Bitcoin was cheap Bitcoin, cos it was going 2 da moon, and that they should dive in with as much 'worthless fiat' as they could possibly muster. I was told that not only at $800, but was called crazy for selling $1000 Bitcoin on this forum.

U should go and take a little look at TERA's thread: https://bitcointalk.org/index.php?topic=489756.0

Neither the 1 day RSI or the MACD of this latest crash are consistent with the reversal of a bear phase. $400 might not be the bottom.

It doesn't matter when you buy or sell, there will always be people calling you crazy for doing something. If I'd say I'm going to go all in at 580 right now there will be people like Fonzie or zyk calling me crazy buying these super expensive coins and that we're going down to double digits. Same story if I said I would sell everything right now, only different names. Gotta ignore those fools man. But you should do what you have to do, I just think it's a lot of wasted energy when you could make it a lot easier for yourself.

[Cryddit]

I'm looking at good long-term fundamental indications (increasing infrastructure, increasing awareness, increasing acceptance), and I've been buying steadily for the last couple weeks while the Gox debacle has been dragging it down.  I've acquired coin between $550 and $620, and stayed the hell away from Gox.  I expect its value to at least double sometime in the next three months. 

I don't try to sweat the market day to day and hour to hour.  That way lies madness.  Let the pumpers, technical analysts, and speculators play that game, it has little effect on the scale of weeks or months or years.  I prefer to look at longer-term indications.

[SlidingHorn]

But you can't buy at the absolute bottom, only if you're really lucky. Almost always when you buy the price will go lower again afterwards, and probably more than you are comfortable with. So why not just choose a price you think is acceptable based on trend analysis and stuff and simply place buy orders there? I'm pretty sure you will get a better price this way rather than waiting for all your indicators to align and you are 100% sure we're in an uptrend that will continue for a while.

Once you have identified the long term trend (hint: UP) then you just want to get in at a good price. Bottom picking is a dirty business, so just buy when you think you're getting a good deal, and then if it goes lower take advantage and buy more.

Assuming (hoping) we hit bottom the other night, I got in at about as decent a time as I really think I could have.  I really didn't think it'd fall below 450 or so (blind luck guessing), but I wasn't going to wait for it to hit that number.  Bought in at around 500.

Really all I can do now is wait to see whether it pans out or not.  

Cheers!