Get ready for it...
Ready to sell again. Hopefully I can get out in the $5.40s and buy more under $5 again.
I got out at $5.10 this time, getting ready to go in at $4.90. then I'll get out $5.05 and go back in at $4.95.
Topic: Paying all longs and btc deposits at bitcoinica! (Read 3256 times)
Ready to sell again. Hopefully I can get out in the $5.40s and buy more under $5 again.
I got out at $5.10 this time, getting ready to go in at $4.90. then I'll get out $5.05 and go back in at $4.95.
Get ready for it...
Ready to sell again. Hopefully I can get out in the $5.40s and buy more under $5 again.
Get ready for it...
It's back... not quite as strong as last time but still +$0.01 for longs, -$0.19 for shorts:
https://bitcoinica.com/pages/interest
https://bitcoinica.com/pages/interest
That plus the * on sell means bitcoinica is already leveraged short. But the mini-wall was put up by a market-maker. Unless he removes that mini-wall or somebody sells into it, the bitcoinica shorts are about to take a loss.
It's back... not quite as strong as last time but still +$0.01 for longs, -$0.19 for shorts:
https://bitcoinica.com/pages/interest
https://bitcoinica.com/pages/interest
That plus the * on sell means bitcoinica is already leveraged short. But the mini-wall was put up by a market-maker. Unless he removes that mini-wall or somebody sells into it, the bitcoinica shorts are about to take a loss.
It's back... not quite as strong as last time but still +$0.01 for longs, -$0.19 for shorts:
https://bitcoinica.com/pages/interest
https://bitcoinica.com/pages/interest
However, there is one account on gox that will be buying in such a situation, and that's Bitcoinica. For the past three times we've moved up to $5.5, we haven't had a starfish on the sell side, so the short squeezes were a bit too weak... but this time, all conditions seem ripe for a breakout.
I concur about the role bitcoinica plays. I think the stability is also due to an increasing number of passive market-makers (people with bots playing both sides of the order book) - accounting for the increased depth on the order book that others have mentioned. I bet some of these guys are experienced traders playing with pennies compared to the funds they use on wall street. A passive strategy is good for anyone with lots of skin in the game, because its less risky than outright buying a bunch of coin.
I think what we're seeing on MtGox is active traders on bitcoinica betting against passive market-makers. I wonder which side will come out ahead..
There are many reasons why we're stuck in the 4.8-5.5 range right now. Chief among them:
(1) Psychological S/R after oscillating for a long time
(2) Sheer number of bids/asks
(3) Moves seem to be manipulated; consequently, profit-taking happens right after we get to $5.5 or $4.8.
For a bullish breakout, we need someone to buy a large volume of coins right when the price gets close to the top end, before any asks can form. This hasn't happened yet because it is a ridiculously stupid thing to buy at $5.5 due to the 3 factors above.
However, there is one account on gox that will be buying in such a situation, and that's Bitcoinica. For the past three times we've moved up to $5.5, we haven't had a starfish on the sell side, so the short squeezes were a bit too weak... but this time, all conditions seem ripe for a breakout.
If everything happens correctly, this is it.
(1) Psychological S/R after oscillating for a long time
(2) Sheer number of bids/asks
(3) Moves seem to be manipulated; consequently, profit-taking happens right after we get to $5.5 or $4.8.
For a bullish breakout, we need someone to buy a large volume of coins right when the price gets close to the top end, before any asks can form. This hasn't happened yet because it is a ridiculously stupid thing to buy at $5.5 due to the 3 factors above.
However, there is one account on gox that will be buying in such a situation, and that's Bitcoinica. For the past three times we've moved up to $5.5, we haven't had a starfish on the sell side, so the short squeezes were a bit too weak... but this time, all conditions seem ripe for a breakout.
If everything happens correctly, this is it.
Quote
Why do you think a short squeeze is coming? If anything, it's already come and gone.
So, the price goes up to $5.40ish, the costs of shorting/going long get flipped around, and the price comes back down to ~$5 after dipping below $5 again.
Depends you need to factor in mtgox sellers, are people willing to sell below 5 again and stay in oversold, short squeeze coming and new trading range.
Quote
Why do you think a short squeeze is coming? If anything, it's already come and gone.
So, the price goes up to $5.40ish, the costs of shorting/going long get flipped around, and the price comes back down to ~$5 after dipping below $5 again.
Quote
Why do you think a short squeeze is coming? If anything, it's already come and gone.
Short Squeeze here we come... maybe they will cover above 5.50
Why do you think a short squeeze is coming? If anything, it's already come and gone.
Short Squeeze here we come... maybe they will cover above 5.50
And now its more expensive to be short (-$0.14) than long (-$0.11)!
Like taking candy from a baby..
I am not so optimistic .. (waiting for the moment that would buy again) Like taking candy from a baby..
And now its more expensive to be short (-$0.14) than long (-$0.11)!
Like taking candy from a baby..
Like taking candy from a baby..
lol, i dont think $.09 covers a shorts losses from a rising price 
but if you close the long position 4.95 (just a guess)...
lol, i dont think $.09 covers a shorts losses from a rising price
Now Bitcoinica is paying shorts...
What happened?
I think, shorting "wave-lemmings" What happened?
Now Bitcoinica is paying shorts...
What happened?
What happened?
Now we have a much faster order processing system, and guarantee 100 BTC liquidity for a single order. The associated liquidity can be as high as 1000 BTC. (So sometimes you can place a 1000 BTC market order and trade without slippage or re-quotes!)
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