JWU DEC 21

Dec 21, 2013

 

1.   China. Land of the “more free than before” class.  I’ve completed a fairly detailed look at BTC China, the largest & oldest bitcoin exchange in China.

2.   My view, having worked with Chinese for 5 years as the only white boy on deck, when I read between the lines, is that the Chinese Gman is pro-bitcoin, but anti-speculation, and vehemently against wild speculation.

3.   I don’t believe the ban on 3rd payment processors is about money laundering concerns.  I’m 99{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} sure that Bobby Lee, CEO of BTC China, has been told that the Gman doesn’t want a bubble, let alone a world-wide bubble that blows up with China to blame.  More accurately, I would say I’m 99.99{7d2759035a2769ee7a6afa7c646e6642b67314b0cd0e17ac0c6ae4f965ff87d9} sure of this…

4.   Yesterday, Bobby announced a new bitcoin storage system called Picasso, which is rumoured to provide Western bank level security.  He also reinstated trading fees that he’d removed in September, to reduce rampant speculation.

5.   My view is that BTC China will have Yuan (CNY) deposits restored, and bitcoin’s price action will become more stable, with an upwards bias.

6.   Third party payment companies are prevented from sending money to BTC China, and so are banks.  The 3rd party companies are being forced back into the world of merchant business, and out of the world of promoting speculation.

7.   I was a buyer this fine Saturday morning, basis Mt. Gox Exchange, in the $650 bit price zone, after being a seller in the $740 zone yesterday. I’m PGEN locked and loaded, ready to buy to zero, if need be.

8.   The bottom bitcoin line this week:  Hi ho, hi ho, it’s into the price stability zone, BTC China, politely asks us all to go!

9.   For those of you who want to hear somebody with an actual brain explain bitcoin to you, please click here now.

10.            Please click here now.  That’s the monthly chart of another indicated reserve monster, CNL-TSX, Continental Gold. 

11.            Continental operates in Colombia, which has a cleaner reputation right now than many other questionable jurisdictions. 

12.             What’s particularly interesting, and more apparent on a log chart, is the huge head and shoulders bottom pattern.

13.            If you can’t see it on an arithmetic chart, does it (the pattern or signal you envision) actually exist?  Probably not. 

14.            Log charts magnify the past to show the investor the power of past crashes and rallies.  

15.            Arithmetic charts show the pgen-to-zero accumulator the stunning gains his lowest buys have in their full glory.  I’ll talk more about this in the next GU.

16.            Please click here now.  Double-click to enlarge.  At this point in the gold stocks game, I don’t see the point in highlighting a tanking stock, let alone engaging in a debate about whether it survives or not.  That’s “patheticisim”.

17.            Uranium has battled back from a small h&s top formation, but it hasn’t taken out the right shoulder high, although Friday was a great day.

18.            Junior uranium stocks have not responded in a big way to the uranium rally, but I think that will change if there’s another leg higher.

19.            Remember the golden rule when trading these assets; always trader smaller than you KNOW is rational.  If there’s a powerful rally that you sell into, don’t start selling your core positions into that rally to “call the top”.

20.            Markets can keep going up as relentlessly as they go down.  Can you imagine holding Dow short positions put on at 6500 now?

Report Card Day.  The power is totally out here and around Toronto, due to a major freezing rain storm.  I’ve got internet through my cell phone, for now.  Going forwards, I’ll continue to focus on winning stocks, rising stocks, until the general juniors group begins to rally significantly, and as you’ve seen from action in gold stocks like Carpathian, Pretium, and Continental, there is plenty of upside action, albeit isolated case upside action.

 

Thanks!

           Cheers

           St

This entry was posted in JMU. Bookmark the permalink.
Translate »