OT: GME oh my...

[Jeffreauxdawg]

I was completely wrong about that secondary pattern being a JLS.... That was just the left testis.

We may be looking at the mythical Homewrecker pattern setting up.

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[karlchilders.sixpack]

Definately creating a stir

somebody making $
somebody losing $

 

[dawgman42]

That is not the preferred double play.

 

[jethreauxdawg]

No clue it was coming again

I pulled out early. This one might leave blood behind.

 

[MaroonOil]

A very nice & tactical drop, I enjoyed it. The drop was so obvious & fake, I was just mad at first but then very happy as I bought the hell out of that 198 dip.

Today was the final confirmation I needed to know how trapped these people holding shorts are. Why do you ask? That was a very calculated & timed drop that could only be pulled off by more than one institution.

The best part? Retail didn’t wash sell off & we closed in the green. We are going back up.

Seems like when we hit 348 Chicago doesn’t like that. Today was a huge win, IMHO we found the breaking point at 350 a share & closed in the green. Not even phased or shook. Buying more tomorrow, tickets are still cheap in where this price is going.

 

[Jeffreauxdawg]

Here's the GME explanation... Writer calls it a "Gamma Swarm"... I like that term. It's runaway call covering/gamma squeeze since everyone is levering up by buying calls. The call sellers are having to cover... Rinse repeat. This happens between funds at times, but this is a "swarm" of little annoying bees.

Not sure who is selling the calls, but they may be getting hammered (unless they are covering the next round before they sell.) Either way... Definitely not a short squeeze. It's a gamma squeeze like I believe UTM and Fishwater said... caused from call covering like I said.

Musical chairs on this one. Good luck players.

Link below.

https://www.forbes.com/sites/george...top-the-second-surgeanatomy-of-a-gamma-swarm/

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[rynodawg]

Made a decent amount Round 1, mental health can’t handle that again. Not touching shares at this price, but did sell CSPs last week since option premiums were crazy high.

 

[MaroonOil]

GME will have to gamma into the real squeeze & if they are bad over the float, which they still are. XRT as of today is 100% over the float, no telling where GME is at, hard to trust anything & everything that has gone on. From the media to volume & price action misdirection. It is no secret a gamma brings on the real squeeze, depending on the narrative you believe. Today was the first time GME acted like a normal stock & that is concerning to me, it might be a good ole trap for retail as one of you suggested but, it still had its moments today. If GME trips 350, watch out.

AMC is freaking primed though lol, 99% utilization.

I have held from 348 to 38 & back up & hedged my way into the green. Buying all the dips. Sadly I have no idea where GME goes after 2/25. Where I will probably exit after the Cohen official announcement that will give a 20-40% rise.

Edit: S3 even came out & said GME will be squeezing, I didn’t read the article but saw the headline. My guess before reading it, will probably be another TESLA steady & slow rise when they broke all their shorts on them.

 

[Kojak.sixpack]

2/25?

GME will have to gamma into the real squeeze & if they are bad over the float, which they still are. XRT as of today is 100% over the float, no telling where GME is at, hard to trust anything & everything that has gone on. From the media to volume & price action misdirection. It is no secret a gamma brings on the real squeeze, depending on the narrative you believe. Today was the first time GME acted like a normal stock & that is concerning to me, it might be a good ole trap for retail as one of you suggested but, it still had its moments today. If GME trips 350, watch out.

AMC is freaking primed though lol, 99% utilization.

I have held from 348 to 38 & back up & hedged my way into the green. Buying all the dips. Sadly I have no idea where GME goes after 2/25. Where I will probably exit after the Cohen official announcement that will give a 20-40% rise.

Edit: S3 even came out & said GME will be squeezing, I didn’t read the article but saw the headline. My guess before reading it, will probably be another TESLA steady & slow rise when they broke all their shorts on them.

What was the significance of February 25th?

 

[MaroonOil]

I meant 3/25

We get GameStop E & Ryan Cohen becomes the official CEO.

 

[Jeffreauxdawg]

I guess I am done drawing weiners on charts... Turns out the Homewrecker I was calling for is nothing more than a chode.

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[GloryDawg]

You perverts see two dick and two sets of balls. I see a big hippie and a little hippie giving the middle finger to the police. *******

 

[Jeffreauxdawg]

You perverts see two dick and two sets of balls. I see a big hippie and a little hippie giving the middle finger to the police. *******

You have problems.**

 

[jethreauxdawg]

So I’ve just read the beginning of the Intelligent Investor. What I’ve read so far could be summarized by “Run away from meme stocks, once it’s blowing up the front page of Reddit, you’re too late.” Lessons learned.
Also how did Jim Cramer get a TV show? I would think being highlighted as giving terrible investment advice would exclude you from having an investment show.

 

[MaroonOil]

Still buying all the GME at the price points I like. Earnings wasn’t bad & RC will turn GameStop around, we can actually already see that happening with the new store layouts.

GME is still massively shorted, price don’t matter if you are playing for the squeeze. (Which ofc I am)

I have donated 150k+ to our fine university.(I didn’t want to know what it all went to, as I’m sure it would have made me mad, showing y’all how much I care/don’t care. Anyways, I gave back to my home away from home that started my success)

All that to say, I’m not phased & hedging like a bat out of hell. This is a bull & bear battleground & not for the faint of heart investor, I refuse to lose & this saga isn’t over yet.

 

[jethreauxdawg]

Good luck

Still buying all the GME at the price points I like. Earnings wasn’t bad & RC will turn GameStop around, we can actually already see that happening with the new store layouts.

GME is still massively shorted, price don’t matter if you are playing for the squeeze. (Which ofc I am)

I have donated 150k+ to our fine university.(I didn’t want to know what it all went to, as I’m sure it would have made me mad, but I gave back to my home away from home that started my success)

All that to say I’m not phased & hedging like a bat out of hell. This is a bull & bear battleground & not for the faint investor, I refuse to lose & this saga isn’t over yet.

I wish you the best. Remember one of your earlier posts where you said GME was finally acting like a normal stock and that concerned you a little. Don’t forget that. It has steadily dropped since your comment.

 

[MaroonOil]

Thanks! If you want some free gains, coming in hot tomorrow at the open, panic buying tomorrow

 

[TheStateUofMS]

There's only 15% short interest in GME as of yesterday MaroonOil. This is going to end badly. It's a $30-$40 stock at best. It'll get there eventually.

Earnings "call" with ZERO analyst questions or guidance. Nice.

 

[TheStateUofMS]

This aged badly...

 

[TheStateUofMS]

It's not massively shorted

 

[MaroonOil]

If it wasn’t massively shorted, we wouldn’t be in this situation at all. How is that even debatable at this point?

Them not taking Q&A is bullish & was the right move. Just imagine the crazy questions that would have been thrown out & the repercussions could go both ways. The earnings weren’t bad either.

The price will come back to reality when it is over.

 

[TheStateUofMS]

It WAS massively shorted. It's 15% short right now according to S3 or it was yesterday or day before.

The only reason the stock is holding up is bc of the "diamond hands" or whatever you want to call it. It's going to end badly. There's no doubt about it.

 

[jethreauxdawg]

To give maroonoil credit

This aged badly...

It opened at $120 and sits at $163 now. That would’ve been a nice gain.

 

[Jeffreauxdawg]

You are wild man. I can't figure out where you are on this thing? How can it possibly be bullish that the earnings call did not take Q&A? Earnings/outlook discussion would be purely a fundamental approach and no analyst or Exec would delve into short interest etc.. If anything, I think they were avoiding conversation about issuing a new equity offering? If I were on the board, I would be all over that (After I sold my vested shares.)

So you are bullish on the fundamentals and you then say its not a about fundamentals its about a secret short squeeze that will happen because of all the secret shorts out there nobody can find.

Here's what I thought would happen. Massive sell off on earnings because blackout ends and insiders are able to sell for the first time since Mid January (Notice that 35% drop from earnings call Tuesday night to close on Wednesday.. That was insider distribution.) I honestly don't spend much time on it other than being fascinated by the wild opinions out there. I highly doubt there is the secret short stash that's going to come through. But I have been wrong before.

I know I joke around with the penis drawings, but its actually following technicals pretty well. If you want to trade this is guess you could (I don't mess with plutonium like this myself) because its actually following technical trends. See below. The falling wedge play might be something I keep on my radar. Safe entry on the bottom trend line with a stop loss just below and a sell at the top trend line is a great trade if you are willing to deal with the headline risk.

This chart shows trend and fib retrace on a daily chart(I'm leaving out the wild day from 2 weeks ago and using the actual pivot.) On Fib's, trends don't change until you close above the 61.8% retracement level. So a long way to break out of bearish territory.

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Next you can see the actual downtrend in action on a 30 minute chart. This tells me the algos are running the show. Its a very orchestrated drawdown IMO.
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Finally, there is the falling wedge. When the knife falls, algos will buy it back up to the top of the wedge so they can close out their long positions in a more orchestrated manor. In a falling wedge, you eventually get to the point where there are no more sellers (or buyers), but I think there will always be plenty of buyers on GME for the next few years so if you are looking for entry points, the bottom of the wedge or a breakout above are good spots with stop losses close behind.

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Again. I do not recommend touching this sucker with anything more than you would take to the casino, as it is such a battleground and can break your heart and wallet either way. But if you are going to... Have a plan. I just laid one out that shows this stock is actually acting somewhat predictable. Buy on support and sell on resistance.


Good luck.

 

[MaroonOil]

The battle going on & the current transition happening is bullish sentiment on a none Q&A. It tells us they acknowledge one wrong question could both ruin the momentum or indicate a SEC violation, it just wasn’t smart to do. The earnings were fine & they said they had enough cash to not dilute. They also posted in their 10k of a short probability for legal liable reasons there.

I’m riding this out, the buying demand is undeniable & I’m starting question how this even goes down. Why does it go down with the huge demand frenzy I see? Anyways, back to normal, GME doing GME things.

All the ETFs, all of them that carry GME are shorted & Reddit keeps a good watch dog on all this, still hit & miss. New shorts get borrowed to play the price, that dance is being done since GME is too high on fundamentals. FTDs still have to be rebought & I don’t know how long they can keep that from happening.

Anyways, I’m enjoying it, buy the dip & ride this thing, rinse & repeat, you can’t lose right now if you want to day trade it. I strictly watch the volume, buy dips, & only buy the the last 10 minutes. Best of luck to all of you!

 

[karlchilders.sixpack]

Maybe not, but

somebody has sombody bent over a barrel, and is poking the hell out of them.

It is still a $14/15 stock.

 

[MaroonOil]

30-40, best case 60 but hey, short it at 15 if you know that much. Again, new shorts get borrowed every day on this price action, yesterday some brokers ran out. When do we stop going back & forth on that, idk.

The buy orders versus the sell orders are off the charts. Completely lopsided to buying demand. If this demand somehow magically sustains over a long period of time(I give that a 2% chance, like us winning a Natty in football) GME never sees 80 again.

Anyways, a lot of ways to make money on this & we will never see this again. I’m still trying to figure out when to place Puts, opening isn’t there yet

 

[karlchilders.sixpack]

If you are saying it will never come back to earth...

GME never sees 80 again

I'll take a few dollars of that action.