When it gets boring for most people, this is when I find the market most interesting.
The stuff last night and this morning was fun, but it was predictable. Most people paying attention bought through the 500's and then sold through the 600's/700's this morning (if you're into that kinda quick profit... or else you bought through the 600's and 500's and are holding).
It was a pretty easy turnaround for those interested. That said, now that the price has come back to earth a bit after the quick jump up to 720ish, this is when things get interesting. These are the times when imo it becomes difficult to gauge the market and predict which direction it's going to go. Last night was childs play (in terms of making the smart move). This is where the men separate themselves from the boys, being able to make the correct play right about now.
Unfortunately, I'm not sure I have any insight lol
Depends. Was the downward momentum interrupted or reversed? We will need new good news to keep going up. A fix from Gox, a new app, integration with some major product or company, etc. We would need real bad news, not just FUD, to go back down. Otherwise, we'll go sideways.
And screw you it was not child's play. It's easy to say that after the fact, but my net worth was down hundreds of thousands of dollars and shrinking by thousands more by the minute and I knew I should buy MORE, but was surrounded by fear and panic. Calling it child's play is insulting. The children were running, screaming and crying. The adults were buying when they felt like selling but thought differently than they felt. That's what adults do. They act on thoughts more than feelings.
Sorry to offend you, I meant in terms of rational thought, it was in fact childs play. You say so yourself. The rational decision was 100% to buy.
It may take some decent sized balls to put your money where your mouth is and actually do it, but I was more strictly speaking in terms of predicting the market. It was easy to predict whereabouts to start buying during the plunge down and that it would slingshot back up (although I'll admit I fully underestimated just how high and started selling sooner than I would have liked, I still moved a decent amount over 700). Just as it was pretty easy to see it would shift back down to where it is now after it rebounded so quickly.
All those calls were relatively easy imo. Having the fortitude to stick with them may be a different story, but the calls themselves were practically punching people in the face if they were paying attention.
The "this is where the men separate themselves from the boy" comment was more referring to being able to properly see where the market is likely to go now, which imo is much less clear than the fun exciting movement of the previous 20ish hours.
In terms of gutchecks and being able to put emotion aside, yeah, the fast action certainly will test that.