I don't trust this recent pump in the market. The quick turn around euphoria aint' right.

I don't like how quickly everyone went from despair to euphoria so quickly because of a price pump. After price has been dropped, the sell liquidity is weak and a quick pump, dead cat bounce, exit pump, whatever you want to call it, is easy for the manipulators to cause to happen. This isn't a reason to get hopeful. Most of our portfolios are still down at least 33% from a week or so ago. Unless we rebounced back all the gains we lost on heavy volume, I wouldn't look at this as bullish at all. We dropped on heavy volume and we're now losing volume as price rises. For long term holds, I don't think this is a bad place to begin cost averaging, but I'm still expecting us to find lower lows now. The bears have demonstrated they are in firm control of the situation repeatedly to us, and we've not been given any good clean signs of a reversal.

I would remain cautious in the short term, and even the medium term here. For long term, 5-10 year time frames, I think we're at a cheap price, but no one really knows when the next bull is coming, and it doesn't have to come soon. The market can stay irrational longer than most traders can stay liquid. I'm still targeting lower prices on steem that haven't been hit, and I think we will make it a good bit below my target of 20 cents per steem.

Good luck out there, just my thoughts here.