Re: Speculation Rule: buy when others are irrationally pessimistic or too cautious
On the other hand remember that the markets can be irrational longer then you can stay solvent and that this irrationality happens in both ways.
I tend to follow the advice from Soros - "When I see a bubble forming I rush in to buy, adding fuel to the fire. That is not irrational."
I tend to follow the advice from Soros - "When I see a bubble forming I rush in to buy, adding fuel to the fire. That is not irrational."
How is a 30 degree upward slope for the past 1.25 years irrational?
The bubble ensues next and it curves up higher slope to rocket to ATHs after surpassing the cup & handle at $800ish.
We may get some resistance at $800 and so maybe not until next year for the ATHs. I am nearly certain we will push to high $700s before Xmas.
Remember Bitcoin is another way for wealthy Chinese to get their money out of their debt crisis and country. A liquid diversification.
See any familiarity with the above chart and the typical one for new investments:
