Where Have We Heard That, Before ?
Is the Genie out of the bottle?
For those who weren’t around for the last melt-down, here’s a brief refresher; links here and here … enjoy.
Of course, the amount of real damage and interconnecting links, are not yet fully known … data is still forthcoming.
However, the backpedaling has already started … ‘Let’s rebuild‘.
How about, ‘Let’s get real.’
As Michael Cowan has said: ‘This is like Lehman, but for Crypto’ … ‘Over $2-Trillion has been destroyed, just like that!’
We’re still in the destruction phase. Any ‘rebuilding’ whatever that means, is probably years down the road.
Those In The Know
Wyckoff said a century ago: ‘Somebody always knows something, and that ‘something’ shows up on the tape’.
This is where understanding price action is critical.
We in the Serfdom, won’t know the details until long after the big players have cashed out or have been bailed out.
Why would it be any different than last time?
However, their moves will show up on the tape. That will provide clues on how or where to take action (not advice, not a recommendation).
All of this is happening on top of there being an elephant.
For those who somehow still don’t know what’s going on, here’s just one report, among many.
Positions: (courtesy only, not advice).
It’s just after the open (9:40 a.m., EST) and both positions listed below, have opened higher.
Entry @ 18.1398: Stop @ 16.83
Entry @ 9.1666: Stop @ 8.79
Note: Positions may be increased, decreased, entered, or exited at any time.
***, Indicates change
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279