There is more and more being said about the Lindex and the current trend in exchange rates. I was curious about trend so I’ve been graphing it.
The raw data comes from Linden Lab. Tyche Shepard collects that information and has since 2009. (See: GridSurvey) The Lab publishes the raw numbers for the last 30 days and charts it for that last 90 days. My chart is a combination of both. The last 5 days have not shown up at Tech’s. The last few days are the most interesting.
Obviously we haven’t seen anything like the current downward spike in price in the last 17± months. But, we have seen this type of large spike before. Tyche’s graph shows the changes since 2009.
There is a commercial about investors and investment advisers currently running in the USA. A bunch of guys in suites have their heads in the sand. Something wakes them up. They jump up and run off a cliff. It clearly shows what the uninformed investor tends to do. We may see that behavior with the Lindex.
While now is a good time to be buying Linden$, it is a bad time to be selling them. I could have waited to buy my L$ and possibly bought at L$291/US$1. If I had, I might have gotten L$380± more L$’s then by buying at L$276. I could have sort of saved a whole US$1…
But, this evening as I write this there is a L$4,620,672 pile of buy orders at L$272 pending. That means my best chance for a quick purchase would have to be at L$271 or L$5 less than what I did buy at a couple of days ago.
While the chart may look like a trend, there is no guarantee it will continue. There is also no sense in fighting a trend.
We still have no clear reason (singular) for why the price of L$ is dropping. It may just be the herd-mentality and bloggers driving the price down. Don’t be a lemming. Also, don’t pass up a good deal.
If you are selling L$, I don’t envy you. We have to make a decision as to how quickly we need to sell. Then decide what price we can sell at to meet that timeline. The market can come back or go south. You have to decide. Just don’t be panicked by what others are telling you. Think it through.