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Author Topic: Bubble burst?  (Read 5931 times)
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May 15, 2011, 12:22:46 AM

Two standard observations:

1. Corrections are good.  They put a brake on irrational exuberance.

2. During the weekend, some exchanges are processing fewer incoming xfers, and early entry traders/VCs are not as often playing.  So, a thin market is even thinner on the weekend.

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May 15, 2011, 12:59:47 AM

sold at $8.40. bought again at $6. like a boss

Damn! So jelly...
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May 15, 2011, 06:20:05 AM

Keep in mind everyone also thought the bubble was bursting when it hit a high of $4.15 and then dropped to around $2.50. What happened was it went back to the 3s and stayed there a few days before the current rally.

That's when Gox was getting DDoS'd

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May 15, 2011, 07:55:54 AM

This is a rule of life! And honestly when looking at how the market has been moving I'm just going to guess that this is just a simple pop that happens in all markets that increase this rapidly. I'm really just starting and I look at this as a way to study how markets move, so it's a good learning experience!
Jaime Frontero
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May 15, 2011, 04:29:23 PM

eh.  so what?

ten bucks is the issue, i believe - quite an important and psychologically daunting barrier.  there's nothing as noticeable as a zero...

when it gets close to $100, it'll flirt up and down even more.
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