JS Index update for 09/16

in trading •  2 years ago

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.

Hi there,
It has been quite a few days without update on the index – the reason for that are several –1st ever since I last posted a value for the index nothing of consequence has changed – the index is steadily going down. It is kind of boring to post same thing day after day. But I promise if a change requiring any change to the “sell/ do not buy” shown by the index to post immediately. 2nd I have also thinking about adding some additional data [as a supplement to the index]. I have not finished that part, but I made some progress.
Below is the updated index for today. Also the skipped value for yesterday.

JS Index for 09/16/2016 14:00 UTC:

392.51

Steem price: 0.0008121BTC/Steem or about $0.49

Past Values:
###JS Index for 09/15/2016 12:00 UTC: 415.52

Imgur
The chart above is for the period 07/26-09/16 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!!!

  1. I made a great call yesterday, didn’t I? Not only did I guyessed the braking of the polo lows, but even correctly guessed the parties involved in breaking the resistance of those ‘all time’ lows.
    Imgur
    Steem chart with btcmsia and dantheman sell respectedly
    What I did not guess correctly is the behavior of the Steem bull speculators*. They continue to hold on their hope of Steem price recovery short term. They are totally wrong, but then again they do not follow the mighty powerful JS Index!

*Steem bull speculators – I call the guys that have bought and are buying Steem and keep their steem on exchanges [as opposed to taking it out of exchanges and powering up – which is more Steem investing]. They have relative short term expectation of the price of steem going up before they sell.

  1. JS Index saw a very significant drop yesterday. This is a word for everyone following the index. Do not jump to buy at this or slightly lower levels. The index continues to show a long way down to go. Do not jump just yet if you believe in this index. I for one believe it 100%.
    2.a. The additional info I am trying to include (as an addition to the Index) is showing significant increase in the Steem Investor buying. Those are people who ether follow Technical analyses or their gut feeling and try to buy ‘cheap’ at all-time lows. Do not fall in that trap! This buying, even at what one might call ‘healthy’ levels is outweigh multiple times (at least at about 4:1 -5:1 ratio) by even bigger sell pressure by Steem sellers!

Cool down, relax – Trading using JS Index is relaxed, no pressure experience… almost like knowing the future. Have fun!

#steemit #trading #steem #money #jsindex

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james-show I like what you're doing here . At what level does the jx index have to be to signal a buy for steem .

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I would consider buying after several days(3-4) of the index increase and I do not consider myself conservative!
It all depends on your aggressiveness, but even a single day or 2 increases might be a wrong signal. For example when the index started I waited one whole week of decreases before declaring - "I am ready to short Steem." (still no such option though anywhere, at least to my knowledge)

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Thanks for the reply james-show

Thank you for your analysis. I want to power up. How long should I wait?

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According to the index - "Not right now! (and probably not anytime soon)". When this changes, a proper notice will be made...
That said, what you do is ultimately up to you. If you want to be "all vote powerful right now" do it asap... just do not complain if the people following the index get their Steem (SP) at $0.15 or $0.03/steem.

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Thank you. I think I can wait. I have a long term plan.

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yeh i suspect steem could go around $0.1 myself. honestly though I think as a person with 400,000 SP, I will not mind seeing a bunch of other people start getting their steem at that price and reaching my level. That just means another phase has been reached with more people who can curate and breathe life into other posters.
:)

Steem is beta and the price will go down significantly and then will go up significantly at times when the price is just right for speculative buys. It is going to be an interesting experiment....and I already am loving watering the trees. :)