Think about it, big investor ready to put in billions, you slowly buy, buy, buy, a little bit but their definition, then dump it all at once, just enough to get it below support and freak everyone out. Then dump, then you buy in big time and pump. Any evidence of this? Any evidence of who started the sale to cause this?
Another thought, this looks to me a lot like Nasdaq in 2008:
http://news.bbc.co.uk/2/hi/business/8558257.stm
It's just that because the internet has sped everything up, we've had ten years worth of growth compressed into one year. Amazing how similar people are behaving in this situation.
Anyway, I'm bullish.. thoughts?
Another thought, this looks to me a lot like Nasdaq in 2008:
http://news.bbc.co.uk/2/hi/business/8558257.stm
It's just that because the internet has sped everything up, we've had ten years worth of growth compressed into one year. Amazing how similar people are behaving in this situation.
Anyway, I'm bullish.. thoughts?
Sigh. You sound pretty hopeful.
Based on conventional trading wisdom, this will probably go deeper. There's a lot of bagholding buyers pressuring price down. Since the downtrend just started last week, and the previous range took months to establish, it'll probably be several weeks at least before we see a major bottom.
Short term bounces aside, I think we're going to see the $3,000s.