Re: our last exchange, I see what you are saying about speculators and think you could be correct to some point. See, we didn't disagree as much as we initially thought.

Regarding this chart, I definitely think the bears have a chance. I think we have a lot of resistance right now all the way up to 233. If we can even get close to 233 in the next couple of weeks we will have major resistance there. And if we clear that, we will have major resistance at 266.

We have come a long way in the last month ($100+ since low) and I think there is a lot of reason to suspect that we don't go much higher or to an ATH until 2014.

The holidays are coming, which means less $$ invested in markets and more money invested in gifts/shopping for the kids and family. A new year normally always brings more confidence and a renewed since of optimism in people's lives and often to markets.

I would bet we don't end the year more than $20 up or down from where we are today. And barring really bad news (which I must admit, knock on wood, seems to be getting less and less a concern of mine with the spread of bitcoin mania) I think we will make a push for a major run up in the first quarter of 2014.