Gold collapsing. Bitcoin UP.

[cypherdoc]

Everything is getting hammered today 

hmmm, didn't someone around here have a theory about why that might happen?

[1714052851]

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[1714052851]

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[cypherdoc]

Everything is getting hammered today 

except Bitcoin   

[SkRRJyTC]

Everything is getting hammered today 

except Bitcoin   

+1

I didn't see it (gold down bitcoin up) at first, but now I do.

Very nice.

Not so sure about your AAPL bet however

[silverbox]

Bitcoin got hammered all weekend 

The markets are just catching up to the signal sent by BTC's pounding

[MatthewLM]

Bitcoin got hammered all weekend 

It went up a lot on friday and simply went back down.

[bitcoinBull]

I'm not sure why I didn't think much of it before, but the bitcoin bubble last year started inflating almost *exactly* when the silver bubble burst. I don't think that was coincidence.

Whatever correlation there may be with gold is less clear. Waiting for more data...

[miscreanity]

Fed meeting conclusion and statement this week, Wednesday. Getting a chubby over a $10-15 move down in gold before then earns you a cold shower.

Can't let dollar evaporate too quickly. Can't let gold rise with stocks. Can't let equities plummet. Surgical precision impossible in the world's massively interconnected financial system. Multiple factors reducing maneuverability and more are appearing.

All hands on deck, brace for impact. Nobody is to know what happened or is happening. Confidence and faith must be maintained at all costs.

Bracing = accumulating gold, mining stocks, and real assets like land and oil.

Fundamentals always overwhelm technicals at the end of the cycle.

It's every man/institution for himself financially.

[silverbox]

UP up UP up!!

cept Bitcoin and AAPL..

Probably they are correlated!! 

[cypherdoc]

UP up UP up!!

cept Bitcoin and AAPL..

Probably they are correlated!! 

LOL!  All that matters is my 10 BTC!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[cypherdoc]

Charge!!!!!!!!!!!!!!!!!!!!!!!!!!!

[silverbox]

Its almost like the market is expecting bad earnings.. 

[waveaddict]

I would be very careful holding an apple short into earnings. I actually lightened up my short a little bit in anticipation of a little pop that I would just short into again. Still holding a very heavy short position though since popping bubbles are highly unpredictable.

My argument is from a charting perspective:

As of this moment, the structure off the top is only 3 waves (corrective) and the 2nd wave up isn't really divided into 3 noticeable waves which brings up the possibility that we are dealing with a running flat right here (if the price is destined to head a lot lower) and that we are currently in the B wave down before a quick C wave back to $600 - $610 before the real carnage begins in a larger degree wave 3/C down that should take us to the daily 200sma at around $450.  

[cypherdoc]

Its almost like the market is expecting bad earnings..  

http://www.zerohedge.com/news/apple-angst-expectations-remain-extreme

these are high expectations.

fundamentally its clear that the global economy is slowing and their earnings will slow.  that won't stop pump monkeys from ramping the stock after earnings however.  

technically, according to my cycle theory, we still have more downside to go before this daily trading cycle is complete in the Dow. if Apple were to pop from earnings it would drag the Dow up with it invalidating the cycle.  thus, i am going to stay short.  i can sustain a ramp back up as i have done really well the past couple of weeks.

good luck everyone.  this is indeed an important earnings report.

[SkRRJyTC]

Very exciting day/week indeed.

[cypherdoc]

waveaddict:

couldn't we be setting up to do one of these?  a wave 3 of 5 down?



the 3 wave down would be expected to to be greater in extent and time compared to 1 would it not?  as it is, its a little shorter and the depth not as deep.

[waveaddict]

waveaddict:

couldn't we be setting up to do one of these?  a wave 3 of 5 down?



the 3 wave down would be expected to to be greater in extent and time compared to 1 would it not?  as it is, its a little shorter and the depth not as deep.

We very well could be (and that is why I continue to be heavily short) but that 2nd wave from your chart up looks more like a 5 waver instead of a 3 waver.

The three most likely wave counts from my perspective are here: http://imageshack.us/f/825/aaplw.png/

Enjoy! 

[SkRRJyTC]

Where are the earnings? I was expecting them at 2 EST...

[waveaddict]

Where are the earnings? I was expecting them at 2 EST...

They usually come out after the market closes or around 4 - 4:15 EST and sometimes even later

[SkRRJyTC]

Where are the earnings? I was expecting them at 2 EST...

They usually come out after the market closes or around 4 - 4:15 EST and sometimes even later

I must have misread 2 PST as 2 EST... Thanks

[cypherdoc]

oh my.