Updated

AMC ready to fade. Too Much Big Short Money to Overcome

I like the theory of beating the Hedge Funds and their over capitalized naked shorts

but the reality of the markets is that they exist to hurt us (the poor and middle class).

I'm expecting a fake breakout sometime between now and Christmas, this will pull in a final round of suckers.

then going into the new year, this will print a definitive new lower low on a ton of volume.

The AMC Movie Theatre business fundamentals don't matter at all, this is a meme asset that is narrative and emotion driven only

Note

we are now approaching the fake breakout range. this is where the "Apes" will fomo in

Note

it is challenging for big institutions to get paper money and naked short Crypto Assets like Zcash which are primed to supply short squeeze vertical up

for AMC sadly the opposite is true, hedgies and institutions can readily take out paper naked short positions and ride you to the ground.

its not fair, but always remember that this is intentionally not a fair system.

Note

they might try and suck you in for one more smaller "breakout" before slamming the door closed.

its still safe to take profits here above $40

Note

really fighting against that blue resistance line

Note

falling toward the yellow line

Note

if it melts through the yellow line, the apes are going to learn about multi-year bagholding the hard way

Note

don't look into the abyss too long apes

Note

Apes now diving into the abyss

Note

2022 is going to be a nightmare for the apes. few will survive

Note

apes already getting a glimpse into the pain for 2022

Note

this has been absolutely brutal

Note

the bottom is not in

Note

Best Case Bottom scenario is $10.00 in late 2022

if the apes have absorbed all of the bagholder selling this entire year, and shares are holding a rounded bottom late in 2022, above $10.00 then its time to re-enter

Note

nice relief rally, i think $15.00 will be the core of the range for 2022. upside is $22 and downside is $11

Note

still building out attempted support around $15

Note

totally gutted

Note

the pain continues, and after the pain ends, the boredom will begin

noam_chom

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

noam_chom