Gold collapsing. Bitcoin UP.

[S3052]

This will be exciting. I think we see a strong move either way, and with a potential to get this strong move reversed within a couple of days right after. Big volatility.
This is a 50/50 bet after AAPL already moved down a lot and it a bit oversold. But, ... the strongest moves often occur in oversold conditions. Hence, if I have to decide, it could be a down move into the 510-520 area after the earnings and then a reversal up afterwards. A break below 510 will be leading to a further crash.

[silverbox]

Wanna buy an iPhone??

Yo they selling like hotcakes!!! 

[silverbox]

UP up UP up!!

cept Bitcoin and AAPL..

Probably they are correlated!! 

Opps, I was wrong..

[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! 

Like I said, the structure didn't look quite right for a wave 3 down starting just yet. I'll be re-shorting in the $600 -$610 range.

[silverbox]

this may be the last time Apple sees $600.  $500, here we come!

Oh yeah baby!!!  NOT!

back to where we belong, 6 hundo!

[S3052]

Satisfied to not have played APPL earnings. I shorted 638, 621 and covered at 563 yesterday. Now probably re-shorting soon. 600 is not a bad level.

[silverbox]

Yeah selling/shorting the positive news is never a bad plan.  But AAPL kinda has a track record of just keeping on trucking..  Caveat Emptor

[cypherdoc]

bleeding off now.  forward guidance decreased.

[silverbox]

Now tomorrow we need the fed to say that QE3 is more likely blah blah blah.. and everything will keep on chugging up that hill.

[cypherdoc]

Now tomorrow we need the fed to say that QE3 is more likely blah blah blah.. and everything will keep on chugging up that hill.

i got a good joke for you.

what's a gold and Apple bugs worst nightmare?

SOUND MONEY!

[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

After Hours: 600.65 +40.37 (7.21%)

Pre-market: 615.50 +55.22 (9.86%)

[cypherdoc]

silver touched below $30

my ZSL up 5%.

[silverbox]

Boring fed meeting..

Business as usual.

The country is doing crappy, but gotta be crappier before we print faster then we currently are.. (which is crazy fast, lol)

[cypherdoc]

Boring fed meeting..

Business as usual.

The country is doing crappy, but gotta be crappier before we print faster then we currently are.. (which is crazy fast, lol)

the problem is that "boring" isn't acceptable.  for markets to keep rising they need "stimulus".

[MatthewLM]

Boring fed meeting..

Business as usual.

The country is doing crappy, but gotta be crappier before we print faster then we currently are.. (which is crazy fast, lol)

By saying they are keeping rates low until at least 2014 means inflation inflation inflation. Same story and will remain so for some time.

[cypherdoc]

Boring fed meeting..

Business as usual.

The country is doing crappy, but gotta be crappier before we print faster then we currently are.. (which is crazy fast, lol)

By saying they are keeping rates low until at least 2014 means inflation inflation inflation. Same story and will remain so for some time.

low interest rates are a sign of Deflation whether you think they're manipulated or not.

[MatthewLM]

Guess you don't know how the economy works then. Oh well. Only way to keep rates super low is with massive artificial supply of credit.

[cypherdoc]

Guess you don't know how the economy works then. Oh well. Only way to keep rates super low is with massive artificial supply of credit.

perhaps you don't know.  the demand for credit is non-existent, hence the low rates.

[MatthewLM]

The attack on gold failed.

We have been talking about debt collapse, with low rates, easy credit, it wont happen.

[miscreanity]

perhaps you don't know.  the demand for credit is non-existent, hence the low rates.

The demand for credit is stratospheric. However, the demand for safety is greater. End result: stagnation.

Does this sound familiar? Which gold price are new trade transactions using?

Any guess as to why gold is refusing to break down? I'm impressed that even the paper side is staying aloft.

Recall our discussion a while back about the difference in transparency between Bitcoin and gold, and why I'm only investing - not trading outside of Bitcoin.

I think you'll like the asteroid mining article, though.