New Support Price, Before We March Back Up?

[StewartJ]

What do you think folks?

[kjlimo]

define a "support price"

[jojo69]

hard bounce off 6.52

up we go

[zby]

How about retracting 50% of the rally since $2?

[StewartJ]

define a "support price"

The point where we march back up to $7 again.

Was $6.25 a few days ago, $6.10 a week ago.

[byronbb]

Loaded question is loaded.

[Otoh]

 'Advance, and never halt, for advancing is perfection. Advance and do not fear the thorns in the path, for they draw only corrupt blood.' So said one of my favourite poets Kahlil Gibran.  

edit: thorns = spikes down

edit 2: corrupt blood = peeps who have over done their leveraged longs on Bitcoinica with insufficient margin

[StewartJ]

'Advance, and never halt, for advancing is perfection. Advance and do not fear the thorns in the path, for they draw only corrupt blood.' So said one of my favourite poets Kahlil Gibran.  

edit: thorns = spikes down

edit 2: corrupt blood = peeps who have over done their leveraged longs on Bitcoinica with insufficient margin

So...  $6.25?   

[notme]

if we get below 6 there can be many forced liquidations 

So you didn't fully liquidate your short yet?  I hope you at least deleveraged a little.

[notme]

i let few thousands just in case i can get a better position

Good move.

[Vandroiy]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

[Cluster2k]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

I'm not sure about a crash, but a correction was certainly due.  When people are running around the forums shouting 'only way is up' and 'look out $8, here we come!' in unison then you know something is wrong.  Too many people are on one side of the trade. 

It's like the market knows how and when to effectively slap down the hubris.

[notme]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

I'm not sure about a crash, but a correction was certainly due.  When people are running around the forums shouting 'only way is up' and 'look out $8, here we come!' in unison then you know something is wrong.  Too many people are on one side of the trade. 

It's like the market knows some people know how and when to effectively slap down the hubris.

FTFY

The market knows nothing.  The market slaps nothing.
Market participants know things.  Market participants slap things.

[Cluster2k]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

I'm not sure about a crash, but a correction was certainly due.  When people are running around the forums shouting 'only way is up' and 'look out $8, here we come!' in unison then you know something is wrong.  Too many people are on one side of the trade. 

It's like the market knows some people know how and when to effectively slap down the hubris.

FTFY

The market knows nothing.  The market slaps nothing.
Market participants know things.  Market participants slap things.

The market is a generic term to describe the actions of the participants.  To describe actions of the market as the actions of a collective of individuals is bordering on tautology.

[notme]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

I'm not sure about a crash, but a correction was certainly due.  When people are running around the forums shouting 'only way is up' and 'look out $8, here we come!' in unison then you know something is wrong.  Too many people are on one side of the trade. 

It's like the market knows some people know how and when to effectively slap down the hubris.

FTFY

The market knows nothing.  The market slaps nothing.
Market participants know things.  Market participants slap things.

The market is a generic term to describe the actions of the participants.  To describe actions of the market as the actions of a collective of individuals is bordering on tautology.

But the way I said it doesn't imply some magical force.

[Vandroiy]

The Invisible Hand does have something of a magical force, and it can unintentionally slap people.

Say there's a mania of some commodity, and the price goes extremely high. Someone just randomly coming to the market and selling can already punish it. Other people may just not buy because it's too expensive for them now, switching to something else without much further thought.

Afterward, there has been nobody who intentionally slapped the maniacs, yet they got slapped. The market did it. That's the beauty of it, and it's not entirely wrong to hint at that in the wording.

[Crypt_Current]

Normally, the short-term price curve should look like a random walk. That said, a vast majority being certain the price cannot drop is excessively bullish.

And every time I see excessive bullishness, I think it's time for a crash. A market in which more than half of the people take "up!" as the only answer to speculation isn't too healthy.

I'm not sure about a crash, but a correction was certainly due.  When people are running around the forums shouting 'only way is up' and 'look out $8, here we come!' in unison then you know something is wrong.  Too many people are on one side of the trade. 

It's like the market knows some people know how and when to effectively slap down the hubris.

FTFY

The market knows nothing.  The market slaps nothing.
Market participants know things.  Market participants slap things.

The market is a generic term to describe the actions of the participants.  To describe actions of the market as the actions of a collective of individuals is bordering on tautology.

But the way I said it doesn't imply some magical force.

LOL such as astrology?     Sorry, I had to.