JS Index update for 08/31. Plus My Trading Thoughts.
JS Index is designed to make your trading decision regarding Steem a walk in the park. Click on the link for more info what it is.
Today is the first update date, after I presented the JS Index yesterday. I intend to do the daily update somewhat earlier in the day. But today ‘the secret ingredient’ of the index saw one of its bigger changes, so I spent some time figuring out the potential causes. Anyway up till now ‘that secret part’ has very little effect on the final index anyway. That part is expected to play more significant role in the future as the inflation of Steem goes down.
JS Index for 08/31/2016:
546.29
Steem price: 0.001628 btc/Steem or about $0.93
The chart above is for the period 07/26-08/31 of the JS Index and the price of Steem.
My Thoughts for today.
Those are just thoughts of mine. Do not take them as trading advice because they are not!!!
The JS Index saw another day of decline, and not insignificant one at that. Any Steem price rises in the upcoming days are expected to be short lived pumps, and the price is expected to continue to fall. I am holding my buying for later on. I need to see several days of the index improving before I start to buy and power up. For now continuing powering down and selling what comes up as a result every 7 days.
An index based on flows of steem <-> SP is a brilliant idea. I'd be interested in a real time chart / feed.
I have seen scripts already written tracking that flow of SP to Steem and back.
This index is not the same and is a kind of slower moving indicator - even the day to day changes must be considered only when you keep the general trend in mind.
to continue my thoughts on SP to Steem movements... I strongly believe everyone should be in power down mode. 104 weeks is a very long time anyway. When the steem comes out of vesting each week if nothing has changes you simply power it back up, if your position on Steem has changed you sell (or hold it liquid for days or weeks). Just the reasonable thing to do and you do not loose so much from divesting and vesting back up in several hours or so.
Do you have the script somewhere or could you make the index public? Other than a post/day type thing? Your post/day could explain your thoughts on the index at a given time, but there'd be value in tracking the JS index live.
I also posted on your previous post, I'd appreciate if you clarified some points. Thanks in advance.
No no script or plans to make it public for now. If you read my response to ryan-singer above/below you will see that I do not see the value in constant tracking of the index. Once a day is plenty in my view and one should even wait for several days of consecutive changes before action.
That being said the part that wights between 90 and 99% of the index (as of now) is public -> funds held by poloniex and bittrex. And there are scripts for tracking that - see for example the guys with the exchange report , and there are others too.
Ok, let's wait.
great series! And they are matching my expectations so far :)
(following you from here on)