It's called a correction (waveaddict's bitcoin charting subscription thread)

[Otoh]

yes this sorry... I badly learned English at school ..

QED 

[teflone]

I honestly cant see all the optimism 

But Im just learning, but I see triangles that are mostly the descending type..  According to the examples you sent out...

[Hunterbunter]

I honestly cant see all the optimism 

But Im just learning, but I see triangles that are mostly the descending type..  According to the examples you sent out...

Its ok...that was definitely a leverage thing. Someone is preparing for the moon.

[teflone]

I honestly cant see all the optimism 

But Im just learning, but I see triangles that are mostly the descending type..  According to the examples you sent out...

Its ok...that was definitely a leverage thing. Someone is preparing for the moon.

I would love to goto the moon, but I'd prefer it WITH my shirt..

[RyNinDaCleM]

I honestly cant see all the optimism 

But Im just learning, but I see triangles that are mostly the descending type..  According to the examples you sent out...

Its ok...that was definitely a leverage thing. Someone is preparing for the moon.

By selling something in the ballpark of 20k BTC in the last 5-6 hours?
Does not compute!

[SkRRJyTC]

I honestly cant see all the optimism  

But Im just learning, but I see triangles that are mostly the descending type..  According to the examples you sent out...

Its ok...that was definitely a leverage thing. Someone is preparing for the moon.

By selling something in the ballpark of 20k BTC in the last 5-6 hours?
Does not compute!

So lets say you had 20k BTC.  
You sell on gox and now you have $100,000 USD.  
Send $100,000 USD to Bitcoinica.
Go Long with leverage.
Price goes up = More profit due to leverage than if you had stayed in BTC in the first place.
Plus you will just jack up the volatility doing something like this... this can be good to start a rally.

Just my guess.

[beardman]

So subscribers, how are my charting emails treating all of you?

More importantly though, if there are any other problems, just let me know so that I can fix them in order to provide the best service that I can here. I believe that I implemented all of the suggestions that you guys advised me on in previous posts.

And, as always, feel free to ask me any question you might have regarding either my daily charting emails or anything else that is charting related,
-waveaddict

They've been great for me, both of today's were especially insightful, and hopefully once we get moving again they will have provided the right insight to make sommore money.

 Just wish there were less influence from the apparent manipulator, this fooling around would have stopped me out (as it has before) if I hadn't pulled the orders this morning (because I've learned to expect it, but don't want to risk it not being "manipulation" while I'm asleep).

[notme]

So lets say you had 20k BTC.  
You sell on gox and now you have $100,000 USD.  
Send $100,000 USD to Bitcoinica.
Go Long with leverage.
Price goes up = More profit due to leverage than if you had stayed in BTC in the first place.
Plus you will just jack up the volatility doing something like this... this can be good to start a rally.

Just my guess.

Why not use the 20k BTC as margin to go long with leverage?

[SkRRJyTC]

So lets say you had 20k BTC.  
You sell on gox and now you have $100,000 USD.  
Send $100,000 USD to Bitcoinica.
Go Long with leverage.
Price goes up = More profit due to leverage than if you had stayed in BTC in the first place.
Plus you will just jack up the volatility doing something like this... this can be good to start a rally.

Just my guess.

Why not use the 20k BTC as margin to go long with leverage?

Because you could get a lower base price then you really should have been able to in that situation without the 20k being sold.  Basically you make a bear trap.

[notme]

So lets say you had 20k BTC.  
You sell on gox and now you have $100,000 USD.  
Send $100,000 USD to Bitcoinica.
Go Long with leverage.
Price goes up = More profit due to leverage than if you had stayed in BTC in the first place.
Plus you will just jack up the volatility doing something like this... this can be good to start a rally.

Just my guess.

Why not use the 20k BTC as margin to go long with leverage?

Because you could get a lower base price then you really should have been able to in that situation without the 20k being sold.  Basically you make a bear trap.

Meh... I don't like to rely on other to panic for my strategy to work.  I suppose if I had 20k BTC, it might be more reasonable to do so, but you only get a lower price if enough people panic in response to your relatively small volume sell.

[Hunterbunter]

I don't think you'd really want a general panic...that would be counter productive and you'd be better off just waiting for it to fall. There will always be some super jumpy, though, to profit from.

My original comment was just based on the fact that price went and was held to within $0.03 or so spread and there were lots of 50btc buys. Does someone know for sure if bitcoinica actually makes market trades?

It could just as easily have been someone selling, expecting the market to go down, and others buying expecting it to go up, or even just someone trying to sell coins without losing too much to slippage. It just looked to me like setting up the best price for leverage is all.

[chsados]

gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

The other day I watched an interesting special on 60 Minutes detailing how India accounts for 32% of the global gold market, and half of that is just for jewelry bought for weddings.  Gold is considered not only a means of wearable wealth, financial security and status, but is also considered sacred. A family that doesn't own gold is considered an "incomplete family.


Preview of the segment: http://www.cbsnews.com/video/watch/?id=7398291n

[waveaddict]

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.

gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

The other day I watched an interesting special on 60 Minutes detailing how India accounts for 32% of the global gold market, and half of that is just for jewelry bought for weddings.  Gold is considered not only a means of wearable wealth, financial security and status, but is also considered sacred. A family that doesn't own gold is considered an "incomplete family.


Preview of the segment: http://www.cbsnews.com/video/watch/?id=7398291n

[notme]

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.

gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

The other day I watched an interesting special on 60 Minutes detailing how India accounts for 32% of the global gold market, and half of that is just for jewelry bought for weddings.  Gold is considered not only a means of wearable wealth, financial security and status, but is also considered sacred. A family that doesn't own gold is considered an "incomplete family.


Preview of the segment: http://www.cbsnews.com/video/watch/?id=7398291n

Not to mention, if most Indian families have gold, when the rough times come they will just pass the gold around instead of buying new gold from outside the country.  The demand there is so high now because their economy hasn't been hit as hard, mostly because they value assets more than Americans and Europeans, who just want fancy toilet paper and credit.  But even India and China will be hit if the global economy takes another hard dip before we recover enough to have some breathing room.

[waveaddict]

  exactly

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.

gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

The other day I watched an interesting special on 60 Minutes detailing how India accounts for 32% of the global gold market, and half of that is just for jewelry bought for weddings.  Gold is considered not only a means of wearable wealth, financial security and status, but is also considered sacred. A family that doesn't own gold is considered an "incomplete family.


Preview of the segment: http://www.cbsnews.com/video/watch/?id=7398291n

Not to mention, if most Indian families have gold, when the rough times come they will just pass the gold around instead of buying new gold from outside the country.  The demand there is so high now because their economy hasn't been hit as hard, mostly because they value assets more than Americans and Europeans, who just want fancy toilet paper and credit.  But even India and China will be hit if the global economy takes another hard dip before we recover enough to have some breathing room.

[teflone]

Come to Canada, we have free cookies..

(and more banking regulations) 

[chsados]

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.

gold went up 500% in 10 years while inflation went up a fraction of that. Trust me, the rise in precious metals is not a natural and normal rise. Right now it is purely based on speculation and not on inflation expectations. People always chase the best performer which gold has been for a while now. It has become a crowded trade.

The other day I watched an interesting special on 60 Minutes detailing how India accounts for 32% of the global gold market, and half of that is just for jewelry bought for weddings.  Gold is considered not only a means of wearable wealth, financial security and status, but is also considered sacred. A family that doesn't own gold is considered an "incomplete family.


Preview of the segment: http://www.cbsnews.com/video/watch/?id=7398291n

spot on, and i agree.  the special really made the whole situation look rather irrational.  it is deeply engraved into their culture.

[mysteriousawake]

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.

Thats great advice,, everyone is calling me crazy , and not wanting to look at charts, they thinks its impossible for the economy to crash like its invinscible, but im learning fast that it is really fragile....right waveaddict.  Food , water, and the basics like love for your family.etc...
something like checkbooks and balances , and credit cards and debt,  to try and be simple.
Im learning a lot from the wave,,,thanks.

[SpontaneousDisorder]

Look a the volume drop off.

http://bitcoincharts.com/charts/mtgoxUSD#rg180zig6-hourztgSzm1g10zm2g25zvzl

Bullish? 

[proudhon]

It sure is slow around here.