Now: Arturo Fuente Figurado abt 10cm. I have lately enjoyed the short ones.
The rally yesterday was unfortunately caused by me
I was trying to negotiate a withdrawal of EUR 300k from Mt.Gox. Due to their troubles, it seemed that I would not receive the money on time so I had to buy back the coins. I purposely used a market order because many people were understandably watching critically the widening spread and I wanted to get out before there would be a stampede.
The stampede actually did happen
But now the situation is under control and the spread is back in manageable levels. That's why I share this with you. From this perspective the subsequent rally in Bitstamp and others was entirely ill-founded, and funny to watch.
It is not really technical analysis, but there does not seem to be any momentum to get ahead. Typically these situations end with an accelerating crash, rather than picking up of the momentum. But we'll see, portfolios well balanced!
The rally yesterday was unfortunately caused by me
I was trying to negotiate a withdrawal of EUR 300k from Mt.Gox. Due to their troubles, it seemed that I would not receive the money on time so I had to buy back the coins. I purposely used a market order because many people were understandably watching critically the widening spread and I wanted to get out before there would be a stampede.The stampede actually did happen
But now the situation is under control and the spread is back in manageable levels. That's why I share this with you. From this perspective the subsequent rally in Bitstamp and others was entirely ill-founded, and funny to watch.It is not really technical analysis, but there does not seem to be any momentum to get ahead. Typically these situations end with an accelerating crash, rather than picking up of the momentum. But we'll see, portfolios well balanced!