1. #1
    MeanPeopleSuck
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    Momentum Trading Alert: Stellar Lumens (STR/XLM)

    Last night, IBM announced they've chosen crypto currency Stellar Lumens (STR/XLM) to increase its speed in cross border transactions.

    It's up 140% today. Click the "24 hr" button: https://poloniex.com/exchange#usdt_str

    Momentum plays are tricky, but can be profitable. There's opportunity on both sides: if you hear the news early, buying long's a guaranteed winner. Unfortunately, I didn't hear this news until it was 10 hours old -- an eternity in crypto time -- so I suspect I've missed that boat.

    The other opportunity's to go short on the other side of the 'hump'. In crypto, a day or two after big news, people start to forget. They move on to the next shiny thing, and a spiked currency usually starts to come back down. Timing's tricky, though, and my track record on those types of plays isn't exactly sparkling.

    Anybody else have any thoughts?

  2. #2
    trytrytry
    All I do is trytrytry
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    yea get us this info 11 hours earlier! ahahah

    thanks for sharing

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  3. #3
    MeanPeopleSuck
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    Quote Originally Posted by trytrytry View Post
    yea get us this info 11 hours earlier! ahahah

    thanks for sharing
    Hey, Triple T, good to see ya! There's prob still some profit to be wrung out of STR on the short side today....

    So we gonna be hard fork buddies again when block 494,784 gets mined next month? I'm in.

  4. #4
    MeanPeopleSuck
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    At the risk of public humiliation, I just went short on STR / XLM about 10 minutes ago at 617 satoshis = .00000617 BTC each. https://bittrex.com/Market/Index?MarketName=BTC-XLM

    I've set a buy to cover at 517, which would be a 16% profit. If it rebounds to 700, I'll close at a loss (heh, and since I'm doing this publicly, I'll bet you a dollar I end up losing money and looking stupid)

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