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The sales volume on the LindeX is ballooning |
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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08-01-2006 21:42
As the sales volume on the LindeX has started to balloon the exchange rate is dropping. This is stipend Tuesday and the exchange rate normally goes up on Tuesday not down. Not only that but LL sold L$1,500,000 on the LindeX as well and even that didn't slow the decline. I also see sellers pulling limit sell orders in advance of the drop in anticipation of an even greater drop going into the weekend. If the sales volume continues as it currently is we could see a repeat of the drop seen during the 4th of July weekend. On the Wednesday prior to that weekend the volume above L$280/1 was L$14,322,142. We currently have a volume above L$250/1 of L$12,032,407. Hang on to your hats everybody this looks like an exciting week coming up.
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Maximillion Grant
Registered User
Join date: 29 Jul 2005
Posts: 172
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08-01-2006 21:54
As the sales volume on the LindeX has started to balloon the exchange rate is dropping. This is stipend Tuesday and the exchange rate normally goes up on Tuesday not down. Not only that but LL sold L$1,500,000 on the LindeX as well and even that didn't slow the decline. I also see sellers pulling limit sell orders in advance of the drop in anticipation of an even greater drop going into the weekend. If the sales volume continues as it currently is we could see a repeat of the drop seen during the 4th of July weekend. On the Wednesday prior to that weekend the volume above L$280/1 was L$14,322,142. We currently have a volume above L$250/1 of L$12,032,407. Hang on to your hats everybody this looks like an exciting week coming up. I have a feeling this might happen as well. During the past week while the Linden got up to 311 and hovered around 308 you could see the millions below 300 were being moved up in mild panic after the announcement by LL that they were about to start selling Lindens, eroding the volume below 300. Seemed like it was only a matter of time before it dropped back to 300 which it did. It was definately interesting that it went UP on Sunday and DOWN on Monday, the opposite of what has traditionally happened. We could be in for another big drop but, of course, the with the Lindex you never really know  |
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mcgeeb Gupte
Jolie Femme @}-,-'-,---
Join date: 17 Sep 2005
Posts: 1,152
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08-01-2006 22:09
As the sales volume on the LindeX has started to balloon the exchange rate is dropping. This is stipend Tuesday and the exchange rate normally goes up on Tuesday not down. Not only that but LL sold L$1,500,000 on the LindeX as well and even that didn't slow the decline. I also see sellers pulling limit sell orders in advance of the drop in anticipation of an even greater drop going into the weekend. If the sales volume continues as it currently is we could see a repeat of the drop seen during the 4th of July weekend. On the Wednesday prior to that weekend the volume above L$280/1 was L$14,322,142. We currently have a volume above L$250/1 of L$12,032,407. Hang on to your hats everybody this looks like an exciting week coming up. Looks good. Why the sudden increase? Why did LL sell $1,500,000 on the Lindex? I was hoping they would only do that at a stronger rate. At this rate the weekend is looking good. Tuesday is the day the value usually falls. |
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Jon Rolland
Registered User
Join date: 3 Oct 2005
Posts: 705
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08-01-2006 22:18
Looks good. Why the sudden increase? Why did LL sell $1,500,000 on the Lindex? I was hoping they would only do that at a stronger rate. Phillips phone bill was due. |
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mcgeeb Gupte
Jolie Femme @}-,-'-,---
Join date: 17 Sep 2005
Posts: 1,152
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08-01-2006 22:39
What just happened on the Lindex, it was like 300:1 and now its 297:1 in like an hour. I think its time to "Hold".
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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08-01-2006 22:47
What just happened on the Lindex, it was like 300:1 and now its 297:1 in like an hour. I think its time to "Hold". L$1.6 million was sold in the last 40 minutes. Last night that occured an hour earlier. Lawrence Linden said it was legit. |
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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08-03-2006 01:55
Conditions today mirror those found on 6/28/06. The volume on the LindeX is running way ahead of last week and the float is very thin again. Comparing the conditions on 6/28/06 with today we see using my data the float above L$250/1 is L$11,863,284 whereas on 6/28/06 the float above L$280/1 was L$14,322,142. Using Xerius Andalso's data, the float on 6/28/06 was L$17,749,796 whereas today it was L$14,952,958. What makes the week of 6/26/06 similar to the week of 7/31/06. The week before 2/26/06 was a low volume week with 5.5 million less L$ trading than the previous week. This past week the volume was 11.6 million less than the week two weeks prior or an average of 5.9 million less for each of those two weeks. The volume currently is running $45,000 worth of L$ higher than last week so given the same trends for the rest of the week the L$ is in for another dramatic drop in exchange rate very similar to the week ending 7/2/06.
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-03-2006 05:22
What just happened on the Lindex, it was like 300:1 and now its 297:1 in like an hour. I think its time to "Hold". I'd tell you, but it is a state secret. _____________________
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Lewis Nerd
Nerd by name and nature!
Join date: 9 Oct 2005
Posts: 3,431
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08-03-2006 05:29
I'd tell you, but it is a state secret. It's easy. It's called the open market working how open markets do. "Value can go down as well as up". Lewis _____________________
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mcgeeb Gupte
Jolie Femme @}-,-'-,---
Join date: 17 Sep 2005
Posts: 1,152
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08-03-2006 06:19
Conditions today mirror those found on 6/28/06. The volume on the LindeX is running way ahead of last week and the float is very thin again. Comparing the conditions on 6/28/06 with today we see using my data the float above L$250/1 is L$11,863,284 whereas on 6/28/06 the float above L$280/1 was L$14,322,142. Using Xerius Andalso's data, the float on 6/28/06 was L$17,749,796 whereas today it was L$14,952,958. What makes the week of 6/26/06 similar to the week of 7/31/06. The week before 2/26/06 was a low volume week with 5.5 million less L$ trading than the previous week. This past week the volume was 11.6 million less than the week two weeks prior or an average of 5.9 million less for each of those two weeks. The volume currently is running $45,000 worth of L$ higher than last week so given the same trends for the rest of the week the L$ is in for another dramatic drop in exchange rate very similar to the week ending 7/2/06. Will LL sell more Lindens though?? |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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08-03-2006 12:49
It's easy. It's called the open market working how open markets do. "Value can go down as well as up". Lewis Or its called Gould -n- Fisk. I'm making a killing...  _____________________
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Sam Brewster
Registered User
Join date: 20 Feb 2006
Posts: 82
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08-03-2006 12:55
I thought the Linden Labs originally stated that they would only sell 10,000 Lindens a month. Did they mean $10,000 in USD?
Sam _____________________
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Jon Rolland
Registered User
Join date: 3 Oct 2005
Posts: 705
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08-03-2006 13:43
They meant $10,000 USD Currency Trader Level 2 They've sold $5000 so they could sell another $5000(1.5 mil at 300).
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