C'mon what's wrong with this picture?
friedcat updates with fantastic news, stock prices on PT exchanges plummets. And by plummets, I mean a 10% drop in a week.
Volatility is fine, but except a slightly skeptical price reception on those bees, I have seen positive news only for the previous week. BFL is late as always, Avalon delayed, friedcat responding with perfection to inquiries (including mine)...
We should have started the weekly run-up to Wednesday already, but instead, sellers are popping out from every grain of sand on the beach. On BTCT there's basically no buy support until 1.14-1.15, and if that falls, there's nothing down to 0.9. Meanwhile, the sell side is heavy just a few bitcents above last sale.
More or less same situation on Bitfunder, no buy support of consequence until 1.09ish, with solid support as low as 1.03-1.05. The auction subforum is heavy with sellers of fairly large quantities.
At these levels we're looking at a yield of 28% or more and that's before the new hash rate earnings come in! I know the Bitcoin community loves their risk and all, but almost 30% dividend from a company as solid as ASICMiner? You're not getting 1/10 of that from Apple or Microsoft.
What the heck am I missing here? Is there a "Sorrry lolz we were just kidding about those ASICs lolz" update I haven't seen somewhere?
.b
PS: In case it's not bleeding obvious by now, I am an AM shareholder and I have an interest in seeing a high share price, but right now, I'm more interested in figuring out whether it's the world or me that's gone mad.
friedcat updates with fantastic news, stock prices on PT exchanges plummets. And by plummets, I mean a 10% drop in a week.
Volatility is fine, but except a slightly skeptical price reception on those bees, I have seen positive news only for the previous week. BFL is late as always, Avalon delayed, friedcat responding with perfection to inquiries (including mine)...
We should have started the weekly run-up to Wednesday already, but instead, sellers are popping out from every grain of sand on the beach. On BTCT there's basically no buy support until 1.14-1.15, and if that falls, there's nothing down to 0.9. Meanwhile, the sell side is heavy just a few bitcents above last sale.
More or less same situation on Bitfunder, no buy support of consequence until 1.09ish, with solid support as low as 1.03-1.05. The auction subforum is heavy with sellers of fairly large quantities.
At these levels we're looking at a yield of 28% or more and that's before the new hash rate earnings come in! I know the Bitcoin community loves their risk and all, but almost 30% dividend from a company as solid as ASICMiner? You're not getting 1/10 of that from Apple or Microsoft.
What the heck am I missing here? Is there a "Sorrry lolz we were just kidding about those ASICs lolz" update I haven't seen somewhere?
.b
PS: In case it's not bleeding obvious by now, I am an AM shareholder and I have an interest in seeing a high share price, but right now, I'm more interested in figuring out whether it's the world or me that's gone mad.
It's that weird thing I pointed out earlier -- even though Bitfunder and BTCT are a very small part of the market, they used to set the prices for the entire market.
However, I must point out that the situation is changing now, as people realize the market is irrational. Auctions are holding out at 1.2 with massive buying support, and I saw one small auction hit 1.5. If you aggregated bids for direct and PT shares I bet you would see a massive 2000-share bidwall or something at 1.2.
