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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (187594)	5/15/2022 3:35:44 PM
From: sense	Read Replies (1) \| Respond to of 219633

I see same issue today in relation to SPY / "markets"... Seeing some who should know better flogging that the "word on the street" today is... that last week gave off such extreme fear readings... that the market can only go up from here... since that event in great fear defines bottoms... so BTFD... Or, of course... that great fear might only define another step taken toward even greater fear yet to come... the fear of the cliff's edge clearly not in itself sufficient to prevent launching over it...when the driver taking you closer to it is BTFD... while BTFD defines... a lack of capitulation... which means... not close to being done, yet... ? So, from there... although stocks performance is mirroring the 2008 event very closely now... bringing us "right up to" the inflection points where in 2008 the next three weeks took away about 1/3 of the prior price... the discussion remains... "Hey, it could go up for another day... maybe two... and then who knows"... so BTFD ? No doubt, back in 2008, there were also people who were telling you the great fear already expressed in October... surely defined a bottom... and the market should move higher ? But... realty check... if 2008 is a reliable model... bear markets do have frequent and often large reversal events... but, they don't tend to happen right in the middle of the turn down into the accelerated major decline... rather than as "huge volatility" occurring in the months leading into the entry... and again in the months coming off that accelerated decline... as nearing a bottom... I've not done a recent comparison with 1929... which might be different ? Might be worth doing ?

To: TobagoJack who wrote (187594)	5/16/2022 9:33:19 AM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 219633

STABLECOINS???????????????? LOL Pay their small holders back?? ROFLMAO! Luna Foundation Guard depleted its $3 billion reserves to try to save UST, it reveals by Lucy Harley-McKeown May 16, 2022, 5:33AM EDT · 2 min read The Luna Foundation Guard (LFG) broke its silence on the state of its crypto reserves, saying that it would look to compensate users for losses suffered due to the breakdown of its algorithmic stablecoin. Terra's native token Luna and stablecoin TerraUSD (UST) had gone into freefall last week as UST lost its peg from the US dollar. The foundation, a Singapore-based non-profit designed to defend UST, wrote in a 10-tweet thread on Monday that it would look to compensate the smallest holders first, adding that it is "still debating through various distribution methods, updates to follow soon." LFG's reserves have been depleted from more than 80,000 bitcoin on May 7, to just 313 bitcoin today, LFG said. calculated that[/url' target='_blank'> LFG has gone from having $3.1 billion in its reserves a week ago to now having roughly $87 million. While LFG acquired those bitcoins to save UST, it couldn't. UST, supposed to be worth $1 at all times, has lost almost all of its value. It is currently worth roughly $0.13. Get Your Crypto Daily BriefDelivered daily, straight to your inbox. The move follows [url=https://www.theblockcrypto.com/post/146840/luna-foundation-guard-lfg-bitcoin-reserves-unaccounted]widespread speculation about the state of its reserves and how it would move to compensate users who lost vast amounts of money. Before it had laid out the makeup of its funds on Monday, there was scant detail on what had happened or what it would plan to do. On Friday it was revealed that out of the total bitcoin reserves, LFG recently provided a "loan" of $750 million in bitcoin to over-the-counter trading firms and market makers. At the time, LFG's publicly-known wallet address showed zero bitcoin balance. A total of 70,736 bitcoins had moved through that wallet, worth over $2 billion. Amid the UST chaos, LFG was said to be seeking even more funds, an additional amount of over $1 billion, to defend the stablecoin's peg, but those efforts seem to have stalled since LFG hasn't made any announcements in that regard. For more breaking stories like this, make sure to follow The Block on Twitter.