Too bad my $71ish bid was not filled, I missed a nice and quick profit in the first of the couple epic bull traps we will have before despair and capitulation.
Still, i learnt that playing these traps is risky business, thus there is no point in panic buying if your strategically placed bid did not fill. That would probably lead to a loss, or to a small profit mixed with a lot of suffering. Not worth it.
I learnt its just better to pull that bid and wait for the next strategic point, which IMO will be mid/high $50s. Playing a bounce on the mid $60s may be profitable too, I will try to play it with a smallish amount.
Fun times indeed. Finally fear. Good news, the faster it goes down, the sooner it will go up again. It will be entertaining to see the slaughtering going on in the traps to follow.
Funny but I'm not seeing any fear at all. The bounces and small bull traps are a given, no matter how things go; but my feeling is everyone is calmly and silently bracing for 55$. No fear, no panic, just waiting. We'll see what happens there, but first we gotta see how the quasi-good news from Gox are received.
