Long

Gamestop- Idiosynchratic Systemic Risk

The rise and fall of GameStop's stock in 2021 became a landmark event in financial history, captured in the recent film "Dumb Money." This saga, fueled by unprecedented social media buzz and retail investor sentiment, culminated in a historic short squeeze and raised critical questions about market access and regulatory oversight.

The Spark: A Sentiment-Driven Squeeze

GameStop, facing declining brick-and-mortar sales, became a target for short sellers who saw its business model as outdated. However, a surge of online optimism, primarily on platforms like Reddit and Twitter, ignited a buying frenzy among retail investors. This sentiment-driven buying pressure triggered a dramatic short squeeze, propelling the stock price to dizzying heights in January 2021.

The Fallout: Buy Buttons and Direct Registration

While the price eventually corrected, the social media fervor persisted. Concerns about trading restrictions implemented by certain brokers during the squeeze further fueled the fire. This led retail investors to embrace Direct Registration of Shares (DRS), a process that removes shares from the clutches of brokers and places them directly with the company. The goal: to limit the availability of shares for shorting and potentially trigger another squeeze.

DRS: A Unique Market Phenomenon

With over 74 million shares DRS'd as of the last earnings report, GameStop represents a unique case in market history. No other non-penny stock has witnessed such a large-scale withdrawal of shares from the open market by retail investors. This unprecedented scenario has created a volatile market dynamic with the potential for significant price movements.

Technical Analysis: Signs of a Potential Breakout

GameStop's price chart exhibits classic characteristics of a stock primed for a short squeeze breakout. Price consolidation since the 2021 squeeze, falling volume and volatility, and rising short interest are all potential indicators of pent-up pressure.

The Socioeconomic and Elliott Wave Perspective

Analyzing market movements through a socioeconomic and Elliott Wave lens, we recognize the crucial role of collective sentiment and mood in driving stock prices. GameStop's price trajectory aligns with a clear 5-wave Elliott Wave pattern, suggesting a potential return to all-time highs and beyond.

Potential for Government Intervention

The exponential counterparty risks associated with a potential GameStop squeeze raise concerns about systemic market instability. Government intervention, in some form, cannot be ruled out to mitigate the potential fallout of unrecoverable margin calls on significant market players.

The Sequel Awaits: A Story Unfolding

As time unfolds, the GameStop saga continues to evolve, captivating both financial experts and retail investors alike. Whether a sequel to the "Dumb Money" film materializes remains to be seen, but one thing is certain: the story of GameStop is far from over, with its potential consequences for the market attracting keen attention worldwide

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We will let the chart speak for itself

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Price is at the ideal trigger level for a possible short squeeze

Targets identified

Lets see what happens

Hope Kenny G. is ready (shout out to the Superstonkers)

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Quick potential trade to earn 10%

Not financial advice

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Target Reached.

Expecting a pullback and then another move higher..let see how things progress

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Should see GME make another high..lets see

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Ok looking for a pullback. lets see

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Shes got legsssss (in my ZZ Top voice)!!!

GME has major legs right now and is definitely using them.

I think its safe to say that its officially squeezing as we predicted

How high this goes- who knows

Expecting a huge gap down on Monday and then from there let the shenanigans begin

Putting a couple of targets on the chart but the best thing to do really is watch key levels (e.g. previous highs), pivots and volume

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Ok got the gap down we were looking for..now we are watching for price to make new highs

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Still looking higher.

Price appears to want to test the next support but selling volume is fading so thinking price heads higher by EOD...lets see

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Appears we are very close to bottoming.

Next expected target as of now...we are not psychics btw

This is about probabilities and momentum..watch for new highs and new lows and react accordingly

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Momentum picking up

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As we said...lets see

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Ok nailed it again. Next target and support identified. Lets see how this plays out

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Tracking price like a hawk

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Annnddd..we nailed it again to end the day..next support and targets in scope..

Lets see how this progresses

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Ok price hit our support region..if it holds we are heading higher

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Price touched previous support..this region should hold and we should head higher

Lets see

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Ok a move higher should be happening soon..

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We are still looking higher.

FYI- a sustained brake of support levels is what would make us look lower..stay tuned

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price action is definitely corrective in nature since the run up...

Thinking we may tracing out a triangle and if this is correct expect a sizeable runup and then a break back down before we continue higher...

Lets see

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As expected so far...

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As expected...just watching support levels for now

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Moving as expected.

Still looking higher

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Price hit support..still looking higher

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Testing previous support

This level should hold..lets see

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We really need price to breakout over 17.19

If not there is potentially for another move lower (white zigzag line) before we continue higher...

Lets see

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This could break either way..

We still need to get about 17.19 - 17.39 area

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We really need to get over that 17.19 - 17.39 region

Until then we are looking down before we start looking up again

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Near term targets

Still need to break over 17.39

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Lets see if we can push over 17.39

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Zooming out a bit..lets see

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If GME is going to squeeze then now would be an ideal time

See our other post on SPX and XLF for details but the broader market is in a perilous position

GME shorts are going to have some tough decisions to make coming up as soon as tomorrow (early next week if SPX/XLF price consolidates)

Chart shows the levels that we think will have explosive price movements

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Nothings changed- yet

As with any stock we need to make higher highs for the push to continue

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We said on 05/09 that GME Shorts would have some tough decisions to make come early this week...well here we are

Price during the pre-market session is directly within the target we called out last week...

Expecting to open higher and then head lower before resuming the trip to greater price levels..

Obviously if this does squeeze we will not be posting as much because we have to manage our positions

Good luck to everyone!

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Well price went right to where we thought

We havent seen a real pullback yet which i think we will still see..

Thinking price fills that gap and then heads higher...

Lets see!

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If we can push thru the yellow box we should be off and running again

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Zooming out as I think this view is helpful

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The typical daily lunch time price consolidation we are seeing is a good thing.

Better than price breaking down lower

Anticipate price will start to get some legs again after 1:30pm est

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Ok here we go....

Lets see

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As expected...

Rest of the week should be fun lol

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Lots of fun in the pre-market lol

Watch out using market orders (buy or sell) in this environment- the next available price might be further away than you think.

Chart shows key levels we are watching..pay close attention volume!

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And..Here..We..Go

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Oh how we love trading halts..

If we can hold this level then we should move higher

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Although we hate them pullbacks are healthy and frankly needed

As usual just watching support and resistance

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The 70ish area is what we are watching next with a move to $90-$100 shortly after

Lets see!

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Having fun yet?

Pre-market tomorrow will tell us a lot about how tomorrow is going to go.

But overall we are expecting FIREWORKS... with a side of HALTS

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Morning!

Expect to see the boatload of shares that became available to borrow put to use early this morning

The cost-to-borrow rate (sheesh!) tells the story on the problem shorts have right now

Chart above is still valid

As usual we are just watching for breaks of support and resistance

Good luck!

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If price breaks down further then looking at the next support

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Specific Target

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Ok should head higher from here..

Lets see...

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As expected..lets see if we can grow some legs and begin moving

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Patience...you have been waiting since Jan 2021...do what it takes to be rewarded for it...

Price should move fairly quickly thru the yellow box..we just need to break that level

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Ok get ready...

Expecting some good movement (until they halt it) from here on out

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Progressing nicely

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Still looking much higher but thinking the 44 level will be our next resistance area

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Levels should hold up here..

Still targeting the 44 level next

Lets see!

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Nothings changed with above

With the broader market teetering (lets see how many get burned by this blowoff move up smh) we should see some major volatility throughout the end of the week as Shorts juggle GME and whatever happens in the market..

Exciting times!

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Morning!

Lets see where we open today.

You know the strategy- watch for breaks of highs and lows , support / resistance and volume

Patience is the key here as always

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Not seeing an indication this level wont hold

Still looking higher

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One more drop lower and then we should start the move higher

lets see

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I dont want it too but i still think we see one more low down to the support box before this takes off

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Our patience will be soon rewarded

little lower into the support box and we should begin a trek higher

Lets see

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Market dumping which is contributing to this move lower

But as usual just watching the support areas

Still looking higher

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Should move higher from here

IMHO the $30 calls that are expiring tomorrow is why price is at these levels

They are trying to keep the price as close to that strike price as possible lol.

The problem with stock manipulation though is that you cant out manipulate sentiment

Their only hope is hope is their tactics destroy sentiment..something tells me they are under estimating the level of sentiment within GME stock holders

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Ok this is what we were waiting for...

Now lets see if we can get some follow through

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Once we get over 31.22 things should start moving again

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The market falling is weighing GME down...

Notice the white trend line...price should head towards it

Lets see

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Like we said..market dumping is weighing

Lets see if we can hold the support below

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Here is the reality:

This is 100% being manipulated to stay below the $30 Calls that are expiring tomorrow

Trades are being diverted off exchange to relieve buying pressure.

If you look at volume with a Volume Delta indicator there are an excessive amount of candles on lower time frames that show NO BUY VOLUME..do you really believe that on stock with this type of volume?

Nothing about this price structure says that this move up is done

The reason we keep saying that we are looking higher is because the structure AND VOLUME tells us to look higher

That blatant manipulation has a cap on price pressure up now...but it wont and cant last..WHY- because you cant out manipulate sentiment!

You can only hope your manipulation kills sentiment...and they cant

Now as you see we have Wave targets on the chart.

And before you roll your eyes at Elliott Wave, do understand that it is EXACTLY what we are using to call these targets

We are calling it now:

Price will reach Wave 5 by Thursday..maybe Friday depending on the structure tomorrow

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Ok this sucks but looking at the options chain $20 Calls are going to be a major problem for Shorts as well...

Pretty sure there will try to push it down to that level.

What sucks is the $20 level is technically where price structure is pointing us

That would put us making it to wave 5 between Wed and Thursday..NO PROMISES because this is so manipulated but from a big picture Elliott Wave perspective this price structure is typical

Typical in the sense that price is adhering to Elliott Wave guidelines and bouncing between the levels and targets that we expect

This is why keep saying they CANT OUT MANIPULATE SENTIMENT

Shorts can ONLY win if they destroy the sentiment around the stock..

STAY PATIENT AND STAY POSITIVE

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Morning!

Chart above is the guide for the near term

Lets see what happens

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Ok price moved down into the target area as expected

Price has held the $20 area as expected

Should see some movement up now

Lets see...

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Heck of a week!

As you see price is headed towards the target

Wont bore you with near term Wave counts and all that stuff...lets all focus on targets.

Next week and every week leading up to Earnings should be volatile..

This week was your training (or maybe your refresher if you were present for the first squeeze)...youre gonna need it

Buckle Up..about to be a wild ride

OK here is what I think most want to know...how high can we go...this is how we see it

Wave Theory hasnt let us down yet on this so whether you think this is nonsense or not its working for us..

Doesnt mean it will happen but the count and chart tell us its possible.... AS LONG AS WE DO OUR PART TO KEEP SENTIMENT POSITIVE

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Look Up!

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Still looking higher aka price should hold and continue higher

PATIENCE!

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Patience starting to be rewarded

The rest of this week should be fun..

Looking MUCH HIGHER

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Word(s) of the day: Patience and Up

Watching the $30-$35 area as there is a lot of resistance at that level.

Thinking we head there and then consolidate before moving higher

Lets see

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Forgot to show that price ended directly in the target box that we identified last Fri..

Thats a good thing...shows price is tracking to expectation

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Good buying opportunity coming up

if break 21 then we will head down a little lower and should bottom around 20

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Updated target

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Still looking higher but cautiously watching for another low until we clear 22

lets see...

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Provided we get over 22 we should then fairly swiftly fill the gap

Lets see!

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Bad movie by the Shorts...LOOK UP

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And...cut!

Another day in the books...all in all..moving as expected

Once the market digests the Nvidia earnings GME should get moving..

Oh and as we said- bad move by the shorts lol

Their algos, although aggressive, always short price down at the wrong moments smh lol...nothing they are doing is breaking the price structure we are tracking..

Silly rabbits..tsk tsk

Ok lets do this again in the morning..see you in the A.M.

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Morning!

Looking higher today while keeping an eye on price holding key support levels.

We should be on our way to the 27 area

Lets see!

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As always bad timing by the shorts...LOOK UP

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And the casino is closed (for most)..

We are tracking this pullback that weve been in for the last week or so as a Triangle..

What does that mean? PRICE IS ABOUT TO EXPLODE...and SHORTS ARE ABOUT TO GET BURNED

Why do we say that?

Triangles ONLY appear in B waves (in an A-B-C corrective move) or Wave 4.

Triangles also are the final move in the wave in which they appear and precede the final move of the Wave of one larger degree..

elliottwave.com/waveopedia/triangles/

Well we are tracking this huge pullback weve seen off the recent highs as a Wave 4 which means this move towards Wave 5 will be dramatic

Price tends to be very explosive after a triangle completes so with GME and the options activity weve seen the last couple of days we are expecting some EXPLOSIVE price movement over the next week

Lets see

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Good morning! (emphasis on the Good)

Ok finally Nvidia has reported.

Now the market can get back to moving.

Chart above is the guide but as always just watching support levels

Definitely looking much higher over the next few days and into next week.

Lets see!

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Our patience is about to be rewarded...

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Almost there....

They arent going to make this easy...be vigilant

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Ok price is in the target area..

Its our turn now...

Lets see!

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Frustrated yet?

Tired yet?

Pissed off?

Ok good because THAT IS THEIR PLAN

There is right in front of our eyes manipulation going on with this stock...we can all see it..

But we will say it again for those in the back: YOU CANT OUT MANIPULATE SENTIMENT...

You can only destroy sentiment...

And the options buying weve seen over the last few days shows that more than a few of us understand whats happening here and see the potential..

PATIENCE..PATIENCE..PATIENCE

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Morning!

Will be traveling today so wont be posting but you know the routine...watch for breaks of support but overall looking higher

Lets see!

Chart above is the guide

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Morning!

Good movement so far..

Next target identified...

Should see price hold around here and head higher

lets see

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Ok lets see what type of pullback we get but we are definitely looking higher

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Ok thinking price heads here next

Lets see!

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Ok time to LOOK UP

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And cut...

Ok that was a pretty productive day.

Still looking higher.

Expecting a move towards the $35 area from here...

Lets see!

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Morning!

The casino is open so lets extract some chips.

Chart above shows the levels we are watching.

Lets see!

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Ideally we would bottom here and head higher but there is the potential for price to move a bit lower..

Lets see!

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The shorts are definitely putting that share offering to good use lol..

Support is still holding so the game is ABSOLUTELY still on..

PATIENCE...remember they are paying big $$$ EVERYDAY to continuously short this..

Remember we are not locked in this with them..THEY ARE LOCKED IN THIS WITH US

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Morning!

Price is hanging out around support.

Should see this get some legs soon..

Lets see!

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Ok getting some legs like we thought

Once get over the $25 area we should pick up the pace

Lets see

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Ok thats a wrap for today..

We have three words for you: COST TO BORROW

Oh its getting really spicy for the shorts lol..

Still looking MUCH higher

Catch you in the A.M.!

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Morning!

Casino will be open soon

After yesterdays action we anticipate momentum upward to pick up

Chart above has the targets

Lets see!

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Ok should head up from here...

Lets see

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Ok get ready..

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And thats a wrap...

Price held support and moved higher..

All in all a productive week.

Still looking higher..

Lets see what next week brings..

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Good morning!

Looks like we are in for an explosive day.

Lets see where we open and then we can define some better targets from there

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Ok these are the immediate levels we are watching

40 level is going to be a key level for right now

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Ok look for price to hold this support area..

Lets see!

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Ok should move higher from here

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Price structure is definitely setting up to run higher.

Hold tight...

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Get Ready!

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there we go!

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And thats a wrap.. +20% on the day..not bad

Man that was some intense shorting at the end of day.

Price still ended in the support area..SO WE ARE STILL LOOKING UP

Eyeing a return to the $40 area

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Morning!

Casino will be open shortly.

Things are getting spicy

MSM crying about Roaring Kitty lol

E Trade considering kicking the guy off their platform lol

Funny how MSM has no qualms with Hedge Funds and so called analysts peddling their drivel 24/7 on their platforms...smh

Ok looking HIGHER today and watching support as always..

Stay patient and lets make these hedge funds BLEED

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Upon further review thinking we hit the $50 area by tomorrow

Lets see!

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Ok should see price hold around here ideally

Should begin our trek back higher

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Ok and that will do it for today

Massive amount of shares to borrow constantly being available is being used to keep price contained

Conversely they are spending big $$$ to keep a lid on this..

Support is still holding and everything we are seeing says we are still headed much higher

Still thinking we head closer to $50 level by tomorrow but definitely by end of week

Lets see

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Morning!

Casino is about to open

Chart above is the guide

Support should hold and we should continue our trek higher

Watching the $50 level

Lets see!

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Progressing nicely

Should continue higher from here

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Ok setting up to move...lets see

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And cut!

Very productive day as we anticipated

Still think we are well on our way towards $50 by week end..

Lets see!

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Morning!

Ok the casino is open

Chart above is our guide for now

Lets see!

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Should head to 37 from here and then we should see a pullback to 32 and then we should be on our way to 40

Lets see

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Ok perfect..moving as expected

Anticipating a pullback of some sort...as always watching for breaks of support

Still think we are headed to 40+

Lets see

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And thats a wrap

Traveling so no chart updates right now

Very productive day! Shorts are in a real pickle right now lol

Expect a pullback to 37 then a continued move higher

Lets see!

P.S. yes we will be watching a certain persons livestream tomorrow too

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Morning!

Casino will be open soon.

Lots of "news" (ATMs, Livestreams,etc) after hours.

IGNORE THE NEWS PEOPLE

The only thing that matters is the price

And the price structure says we are going MUCH higher from here

No charts because we are traveling but as we said looking for a move back to 37ish and then we continue on to 50+

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Like we said: ignore the news aka FUD

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ok here we go...should be heading higher from here

Lets see

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Ok getting some legs..notice price bounced off the support box called out in the last chart we posted..thats good as that means the price structure is still in tact

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ok not near a computer to post our charts but this dip to previous support changes nothing from an elliott wave perspective

We are absolutely confident that we are now headed to 70 (yes i know 50 was our next target but this dip changed things)

Will get some charts up soon but again everything is going as expected

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Lots of FUD being spread about the ATM offering

It changes nothing...unless you let it

ATM offerings, Livestreams, News and anything else you name only have temp affects on price...and only because of temp impacts to sentiment

Look at the price on the Monthly, Weekly, Daily...are we still up from the lows? Yes Yes..have we broken any major support? No

WE ARE HEADED HIGHER...CHILL OUT

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One more thing: based on price structure unless we break below $9.94 this remains bullish

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Ok finally back in front of the computer

Nothing about ANY of the price movement last week says that we should be looking lower..

We should be looking MUCH higher

We highly encourage EVERYONE to pay LESS attention to news, forums and tweets and focus on the PRICE and VOLUME

Short Volume as many have noted is thru the roof

Delta volume shows that there has been in fact MORE bullish than bearish volume over the last two weeks...and price reflects that

The options chain is EXTREMELY bullish as we all know

As we speak we are almost 200% off the April lows

BUY THE STOCK...NOT THE FUD

Lets GO!

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Morning!

The casino will be open soon.

Chart above is the guide.

Like everyone else we are expecting some volatile price movements over the next 2 weeks.

Lets see!

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This push lower is near its end..

Expecting a potential move lower to around 24 and then we should move higher

Lets see!

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Ok well that was fun..

Price respected the support area we called out at the 24 level which is a good thing

As always still looking higher

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Morning!

Casino will be open soon

Lots of available shares to borrow so lets see how well they are able to moderate the buy pressure

Looking higher with an eye towards 70+ but as always looking for breaks of support and resistance

Lets see!

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Ok price is thinking about getting some legs...

Lets see

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Ok things are obviously getting spicy (i.e. the halts)

Price is definitely leaning higher

Lets see

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Price is moving higher as expected and reached the next micro level that we have been watching

Still have our eyes on the 70 ish level as the next major level that needs to be breached

Lets see!

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Morning!

Casino is almost open

Once we clear the 48 level we should be quickly on our way to 70

But as always watching for breaks of support and resistance

Lets see!

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Looking good!

Potential for a small push lower but see price taking out the 40 level soon after

Lets see

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Ok moving as expected

Price hit micro support

We should move higher from here

Lets see!

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And thats a wrap

Pretty intense shorting to end the day

To be expected and as is par for the course, ultimately we are above support

Looking higher

P.S. Citron Research and every company like them are blood sucking leaches and we hope every single one of them go bust and broke

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Morning!

Man are we ready for the casino to open

Word of the day: HIGHER

Chart above is the guide for now

Expecting volume to be extremely high over the next week which should lead to some good volatility

Lets see

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Ok there is the potential for this push down to the 22.50 level

Should get moving again after that

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Price continuing higher as expected

Lets see if the volume picks up a little more the last hour

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Well things are getting spicy arent they lol

Looking higher as always but if we get an decent influx of buy volume this thing could really take off.

Lets see!

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Morning!

Let me start by saying: BUY THE STOCK...NOT THE FUD

Casino will be open soon

Definitely looking higher as price structure is still overall pointing MUCH HIGHER

Chart above is the guide for now

Lets see!

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Well hasnt this been a week

Bottom Line: ABSOLUTELY NOTHING HAS CHANGED

We are still looking MUCH MUCH MUCH HIGHER

We are still WAY up off the lows with a STILL highly bullish options chain and now we have sentiment changing amongst some in mainstream media

Actually saw multiple highly bullish articles on GME today..even some saying explicitly to BUY...whens the last time you saw that?

The only thing that can stop this inevitable move up is somehow we allow them to sour our sentiment on the stock...NOTHING ELSE CAN STOP THIS

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

Lets go!!!

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Big picture update

Lets make this simple..

The big green box outlines the POTENTIAL max level this could squeeze to and the time it will take

Each fib level is a major level that will be respected by price

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Morning!

Almost time for the casino to open

Definitely looking higher as indicated by our last posts

Should be a very spicy week

Lets see

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

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Seems its setting up to move....lets see

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LOTS of heavy selling ahead of the meeting

Someone is positioning themselves for something...hmmn

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Possible move down to 25 incoming before we start moving higher

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Ok there we go

Should head higher now

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Clearer pic of where we are headed

Should head to 50 from here over the next week

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HIGHLY suggest that if you have any spare change you buy here..

Not sure we see these levels again ayntime soon after this week

Not financial advice of course

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And thats a wrap

Heavy selling as anticipated but not nearly enough to change the trajectory of the stock

We keep saying it but the price structure is extremely bullish which is why we keep saying that we are headed MUCH MUCH HIGHER

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

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Morning!

Over here sipping some coffee and waiting for the casino to open

As always we are looking higher as indicated by the above chart

And of course we are watching for breaks of support/ resistance

Lets go!

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Ok well that was a pretty uneventful day

Pushed down a little lower but didnt change the fact that we are headed HIGHER

Have a good holiday everyone!

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

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ITS GAMETIME

Expect EXPLOSIVE price action from June 20th to July 24th...and beyond

Notice the dates and the levels of the green boxes

For all of those who say they have DIAMOND HANDS...you are about to be tested

If you frequent REDDIT/TWITTER you are about to experience the most INTENSE FUD you have ever seen around a stock...

You are about to see this stock absolutely CRUCIFIED and strangely LOVED by the mainstream media

BUY BUTTONS are about to start mysteriously turning off

HALTS HALTS HALTS

All types of glitches will be reported

DRS transactions are about to be delayed/ stopped or you are about to see the cost to transfer go up

Your GME stock unrealized gains are about to reach levels you have NEVER SEEN BEFORE

And finally Roaring Kitty is about to unleash a BARAGE of tweets and he will be a billionaire again (btw- 07/04 is an important date...you will see)

AND THIS IS ONLY THE BEGINNING

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Morning!

Nothing else to add to the above

Just waiting for the casino to open

Lets go!

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We should see price start to get some real legs now

lets see!

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Shorts are in trouble once we get over 26.19

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And thats a wrap

This is getting ready to run

GET READY!

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Morning!

The casino is almost open

Expecting some good volatility today

As always looking higher and watching for breaks of support and resistance

Chart above is our guide as we are expecting price to generally stay within those green boxes over the next month

Lets see!

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Thinking price finds support here around 25 and we head higher

Lets see!

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As we said the 25 level is drawing a lot of attention

PATIENCE is needed as we expect price to get moving the last 2 hours of today which should setup for an explosive beginning of next week

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Well we did say price would get moving lol

Nothing at all changed today with this small push lower at the end of day

Just look at the chart and facts folks lol

-Higher lowers being made
-Drastically increasing average volume
-Extremely BULLISH options chain
-Extremely bullish sentiment

They have been trying to get this below 20 for a month now and they cant do it

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

Oh and another thing: there is a huge swath of people on certain Reddit forums who say that Technical Analysis doesnt work on GME because its manipulated---IGNORE THEM FOR THEY KNOW NOT WHAT THEY DO...smh

The algos that are doing this manipulation are coded to react and respond off certain TECHNICAL factors...this is also partly why technical analysis works on GME.

Note

Ok as we said in our June 19th post its GAMETIME

For the immediate future we are going to use this chart view

Couple of notes:

-EVERY Fib Level is a TARGET and should also be treated as support and resistance
-The yellow dotted vertical lines indicate dates where we anticipate seeing peaks in volatility
-The green/red triangles identify fractals and are always considered immediate support and resistance

And we are now going to make a bold call lol:

MOASS Target: between $98795.21 - $102,110.30 /share
Timeframe for peak: between Oct 2024 - Jan 2025

Those timeframes and targets have been been on our personal charts since the April low

Lets see how wrong we are :)

Note

MOASS Target and Timeframe Visualized

Note

Morning!

Casino will be open soon

End of the month through July should be really fun.

Fib levels are the targets.

Major support area identified by orange box

Lets see!

Note

And thats a wrap

Pretty uneventful day overall

Patience is the key as we expect there to be a marked increase in volatility through the end of July (fyi- some of the volatility will come from the overall market downturn thats in process)

Note

Morning!

As always looking HIGHER

Expecting the volatility to increase today in GME and across the market

Price is in really good shape for a move higher

Lets see

Above chart is relevant for now

Note

And thats a wrap!

Good volatility and move up end of day

Expect LOTS more of that over the next few weeks lol

WE ARE ABOUT TO BE REWARDED

Note

Wanted to post this view that has some additional fib levels

Remember every fib levels is a TARGET

Note

BTW 61.15 is the next main target we are watching at this point

Note

Morning!

Thinking some really good volatility is on the menu today

Chart above is the guide for now

Lets go!

Note

And thats a wrap

Another fairly uneventful day

Support is holding up nicely and still up off yesterdays lows..

Expected a little more volatility but not surprised as the market in general seems to be waiting on the debates and the PCE data later in the week.

Long story short: HIGHER

Note

Morning!

Waiting for the casino to open

Definitely should continue our trek higher..just need the volatility to pick up

And we think volatility is definitely on the menu over the next few weeks

Chart above is the guide for now

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

Lets go!

Note

And thats a wrap!

Finished green as expected

Setting up a to be an explosive beginning of next week and July 4th (hint hint lol)

Get Ready!

Note

Morning!

Well the casino is open

Looking higher as always and still expecting some fireworks over the next few weeks

Chart above is our guide as we watch the above fib levels

Lets go!

Note

Look Higher!

Note

Lol and thats a wrap

Its hilarious watching the obvious manipulation of GME on Fridays

Whats even funnier is how the media keeps saying RK is the one manipulating the price lol..smh

Anyways still looking MUCH HIGHER

From a technical Elliott Wave standpoint absolutely nothing has changed

The structure is extremely bullish and is primed to RUN

Next week should be INTERESTING

Note

Morning!

Ok lets get right to it:

Kansas City Shuffle, Chewy, RK...absolutely brilliant play- POTENTIALLY

Potentially because no matter what people NEED to keep a positive sentiment and NOT SELL

But in our opinion RK unequivocally has an edge related to the cyclic settlement of stock/etf purchases

We anticipate seeing GME call buying picking up around the 15th of this month targeting the Aug 16th $30 Calls..just a guess of course

So where does that leave GME?

STILL LOOKING MUCH HIGHER...

Chart above will work for now

Note

Oh thought we should mention that for whatever our opinion is worth we looked at the stuff around the emojis and there seems to be something to it lol...

PSA:

Lets say that we start to as they say, MOASS, this week/month...

Because of Systematic halts this will take weeks/months to play out..as did the first GME squeeze event

Note

Fret not for a RISE is on the way

Note

And thats a wrap!

Support is holding and we are seeing sustained buy pressure off the lows

All signs that we are headed higher still!

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

Lets go!

Note

Morning!

Casino is about to open and the chart above will do for now

Wanted to partially repost something we posted on June 19th as we hope you are ready:

ITS GAMETIME

Expect EXPLOSIVE price action from June 20th to July 24th...and beyond

For all of those who say they have DIAMOND HANDS...you are about to be tested

If you frequent REDDIT/TWITTER you are about to experience the most INTENSE FUD you have ever seen around a stock...

You are about to see this stock absolutely CRUCIFIED and strangely LOVED by the mainstream media

BUY BUTTONS are about to start mysteriously turning off

HALTS HALTS HALTS

All types of glitches will be reported

DRS transactions are about to be delayed/ stopped or you are about to see the cost to transfer go up

Your GME stock unrealized gains are about to reach levels you have NEVER SEEN BEFORE

And finally Roaring Kitty is about to unleash a BARAGE of tweets and he will be a billionaire again (btw- 07/04 is an important date...you will see)

AND THIS IS ONLY THE BEGINNING

Note

And thats a wrap!

Price held support and moved higher as anticipated

We really hope you all are buckled up and truly have diamond hands lol

Lets go!

Note

Happy Pre-Fourth of July!

Not much to say that we havent already said

Expecting lower volume and volatility today because of the holiday tomorrow but who knows with this gem of a stock lol

Chart above still works for now

Lets go!

Note

And thats a wrap!

Productive day!

We personally think Friday will be very volatile with next week being explosive

Lets see!

Note

Morning!

Another great day to Buy/Hold GME stock!

One word to describe the rest of this month and beyond: HIGHER

Price should make a beeline to 61.15 over the next week

Chart above has the path for now.

Lets see!

Note

And thats a wrap!

We were expecting GME to surprise us with some good volatility today..but alas it didnt happen

What DID happen is price held support and nothing happened that changed the BULLISH price structure

We also saw plenty of volatility in similarly shorted stocks that ran around the time of the May runup which is a sign IMHO that GME should see some good volume and volatility soon..

Still expecting next week to be volatile and potentially explosive

Lets see!

Note

We have had a few questions behind the scenes about whether or not we really have skin in the game on this

The orange dotted line at 23.31 represents our cost basis on a shade under 1000 shares

We also have a handful of options plays on this

So we are in this with you!

Note

Morning!

Casino will be open soon

Nothing to add to our previous analysis as of now

Chart above is the guide for now

Lets go!

Note

And cut!

Ok well that was a quiet but positive day

Not much to add here other than support held and we ended green

Slight tweak to our fibs so the next major level we are watching is 60.52 which the green arrow is pointing too

Lets go!

Note

Morning!

Watching to see how much initial buy pressure we get this morning

If we can stay green through the customary morning short attack thats a good sign we may stay green the rest of the day

Chart above works for now

Lets see!

Note

Thinking we see price start to move up off this 24 level

Lets see!

Note

And thats a wrap!

Ended green which is good!

The 24 level held as anticipated and called out earlier today

Nothing really new to add other than still looking HIGHER

Lets go!

Note

Morning!

Casino will be open soon

Like yesterday we are looking to see if we can stay green through the morning short attack

If we see that, its a good sign that we may rally

Chart above works for now

Lets see!

Note

And thats a wrap!

Well this was an interesting day

As we mentioned in the morning update staying green through the morning session is a good sign that we will be green by close

Thinking we see more of the same tomorrow

Buckle Up!

Note

Morning!

Casino will be open soon

One word for today: HIGHER

Chart above will do for now

P.S. you might not think there is a correlation but take note of the VIX today

Lets go!

Note

And thats a wrap!

Another GREEN DAY!

Weakness in the market definitely affected GME..

60.52 is still our next major target

Lets see what we get tomorrow!

Note

Morning!

Its Friday and you know the casino makes it extra fun at the end of the week

Not much to add other than we are looking higher

Support is clearly defined on the chart above with each fib as a target

L E T S GO

Note

And thats a wrap!

Well what do we have here..yet another GREEN day

Next week should be really interesting...

Pay close attention to XRT...hint

With that said as far as we are concerned we are expecting 60.52 to be the next major area where get resistance

L E T S G O

Note

SMH....

Ignore the news, get off Reddit if it causes you to feel paper-handed, TURN OFF THE NEWS, ignore the FUD and above all... BUY THE STOCK!!

Note

Morning!

The casino will be open shortly

Chart above is still the guide

Expecting lots of volatility in the broad markets so thinking this bleeds over into GME

Pay attention to the Fib Levels because we consider those major areas of focus on this journey!

L E T S G O

Note

Can you feel it building?

Note

Ands thats a wrap

Things are getting spicy across the market

GME with yet another GREEN day

I think we can all feel something brewing...

Note

Morning!

The casino will be open soon and man is today shaping up to be spicy lol

Chart above is the guide

B U C K L E U P

Note

Nothing to add...just love seeing these green days

Note

And thats a wrap!

GREEN GREEN GREEN

Ill save the hyperbole for our morning post lol

G E T R E A D Y

Note

Reiterating and expanding on a previous call. This is how we think MOASS plays out lol:

MOASS Target: between $98,795.21 - $102,110.30 /share
Timeframe for peak: between Oct 2024 - Jan 2025

Vast majority of casuals will paperhands and sell by the time price reaches 367.24

Moissanite (almost hard as diamond lol) handed people will sell at 1869.71

Only the TRULY DIAMOND HANDED will be able to hold beyond that level

Why? Because the pullback from 1869.71 is going to be LEGENDARY for 2 very distinct reasons

1. The pullback is going to be absolutely VICIOUS and make it back down to 253 which is a crushing drop

2. For those that HOLD through that dip are going to experience a HISTORY MAKING runup towards 13,817.26

What happens after that? Price eventually reaches its peak but here is the actually reality...only ONE (1) person gets the tippy top price (whatever that ends up being).

I wonder who that one trader is going to be?

Note

Morning!

Casino will be open soon.

Expecting more of what we have seen over the last few days: GREEN

L E T S G O

Note

And thats a wrap!

Not a green day but it was still a good day!

Support held and price gravitated towards the 30 level which if we breach is going to put a lot of pressure on the Options Chain

Things are looking good!

Note

Morning!

Casino is already open and we are seeing some downward pressure...30 level has them petrified lol

Dont worry...GREEN is on the menu lol

Chart above works for now

L E T S G O

Note

Pullbacks are healthy

Note

Dont worry...things will look better soon

Note

As expected...time to look up!

Note

And thats a wrap!

Decent pullback in GME today but a lot of that is timing as the market as whole was weak today

If you recall we warned that this market weakness was coming and it was relevant to what we are tracking here (see our posts on SPX for what we see coming)

With that said NOTHING HAS CHANGED LOL

Price respected support as anticipated and showed a strong reaction to the lower support levels which means we should continue to see support here

B U C K L E UP

Note

Morning!

Casino will be open soon

Some potential for a move lower down to the 24.50 area

But that doesnt matter as the price structure is saying that we are headed UP over the last past of the month as we have been predicting

B U C K L E U P

Chart above works for now

Note

If this mini dip has you feeling stressed look at a Volume Delta indicator (i like tradingviews built in version) on the Daily...notice what color the bar is

With that said we should bottom really soon

Note

And thats a wrap!

Overall a GOOD WEEK and you might not believe it but this week was even better than last week.

Instead of the price chart the below shows Volume Delta on the weekly timeframe

Does that look bearish lol?

Volume PRECEEDS price which means the true sentiment will show up there before the ticker

We have been saying the last couple weeks of July would be volatile and you can expect next week into the first week of August for GME to make SIGNIFICANT MOVEMENT..

B U C K L E UP

Note

We also want to address something that keeps coming up in the comments:

100K price target equals a 100T market cap..that isnt possible! Are you crazy!?!

For the record: WE AGREE!

100T market cap is INSANE...but thats NOT what we are saying is going to happen

We are saying like the original GME squeeze and every other squeeze you will see trades being executed at what will appear to be insane levels..but also like every other squeeze you will see price fall RAPIDLY after those trades go through.

Note

PSA:

Expanding on the above we want to clarify our price predictions and tell you exactly what we are saying once and for all:

We use Elliott Wave Theory as our primary technical analyst tool (dont care if you dont believe in EWT)

Without getting into the weeds of the theory itself the first squeeze that started Apr 2020 and ended Jan 2021, we count as a 5 Wave impulsive move

Once we bottomed in April 2024 we then made a smaller 5 Wave impulsive move up which completed ...and we have been pulling back correctively since

The bottom in Apr 2024 and subsequent move up allowed us to draw a Fib Extension from the Apr bottom which gives us our targets

This is why we keep saying EVERY FIB IS A TARGET

Its a simple as that.

Ok the real question is: Where do we REALLLLYYYY think price will top?

By the book (with a touch of Avi Gilburts Fib Pinball sprinkled in..do your googles to learn more) the IDEAL target based on GMEs price action since the Jan 2021 squeeze and subsequent pullback, price should reach the 1.764 Fib Extension which is $102,110.30.

Again that is the IDEALIZED TARGET.

We have a system based around Elliott Wave Theory that we use to trade so, yes we treat EVERY FIB as a target..BECAUSE WE TRADE SYSTEMATICALLY

With that said we think the vast majority of people will make their money in this trade somewhere between $253 - $609 and call it quits

With the next largest group getting out by $1869

That should cause a massive drop but since this is a squeeze we expect parabolic price moves that continue higher

How High above $1869?

By the book we would point to the $4895 level as the next big target on the way to the 1.382 fib at $13,817 (and then IDEALLY price continues to the higher fibs eventually topping at approx 100K)

But being we are talking absolutely INSANE prices we would say: WE HAVE NO IDEA HOW HIGH THIS GOES ABOVE $1869

ATMs, Halts, Overall Market Disruption and flat out Regulator intervention are things that will absolutely impact any significant price movements

Hopefully that clears things up and gives you a more realistic understanding of our GME posts here on TradingView

Note

Morning!

Casino will be open shortly

Expecting a spicy end to July and start of August

B U C K L E U P

Chart below works for now

Note

We said on Friday that price had the potential to move down to the 24.50 area

Nothing to see here folks other than a normal pullback in price

Note

And thats a wrap!

Another GREEN day :)

Not much to add other than definitely still looking MUCH higher over the next few weeks

Lots of friction underneath the hood of the broader markets so expecting tons of volatility over the next few weeks

B U C K L E U P

Note

(Sips coffee turns up Phil Collins , In the Air Tonight)

Morning!

Casino will be open soon

Still looking UP of course

Not much to add here other than that we are still in Pole Position on this race to the top

L E T S G O

Chart above still works for now

Note

And thats a wrap!

Yet another GREEN DAY

We are having a lot of GREEN days lately...wonder what thats about lol

I think we all know: UP is what thats about and UP is where we are headed

Note

Morning!

Casino will be open soon

As we mentioned on Monday there is lots of weakness across the broad markets which is bleeding over into GME

Doesnt matter though as the price structure says we should be looking UP overall

Chart above works for now

L E T S G O

Note

And thats a wrap!

Well that was a nice red day lol

We did warn you about the mess under the hood of the broader markets right?
We told you it would bleed over into GME right?

We are also telling you that we are STILL LOOKING HIGHER (market should rebound a bit over the next few days which will give us a push)

L E T S G O

Note

Morning!

Casino will be open shortly

Market is overall weak as we have been saying which is going to weigh on GME price

Our expectation is that we will see significant movement higher in GME as we get closer to month end leading through the first week in Aug (expecting the market to bounce higher soon)

Chart above works for now

L E T S G O

Note

And thats a wrap!

All in all a good day!

Had some pretty decent early selling to go along with the overall initial market weakness

The broader market found some strength and like we said it helped nudge us along higher

Expect more of the same synergy between market strength/ weakness and GME over the next few weeks

L E T S G O

Note

Morning! TGIF!

Casino will be open soon

As the market goes today, GME goes..to an extent

Expecting the usual Friday shorting and push to keep price near max pain

But above all we are STILL LOOKING MUCH HIGHER OVERALL

Chart above works for now

B U C K L E U P

Note

And thats a wrap!

Another GREEN DAY!

As we predicted GME found strength along with the broader market

EXPECT THAT TO CONTINUE OVER THE NEXT FEW WEEKS!!

B U C K L E U P

Note

Morning!

Hope everyone had a good weekend

Casino will be open shortly

Nothing new to add at this point

Expecting the broader market to bounce back which should help nudge GME price higher as well

Chart above works for now

B U C K L E U P

Note

And thats a wrap!

Pretty uneventful day

Saw some heavy selling at the end of day that coincided with the broader market selloff

We keep pointing out that GME will be affected by the broader market environment

Something to watch over the next couple weeks: SPX/IWM/DJI/XRT UP..GME will move UP too..and vice versa..to an extent

L E T S G O

Note

Morning!

Just waiting for them to open the doors on the Casino

Nothing to add beyond what we said in the last update

Chart above works for now

L E T S G O

Note

Pay attention to the correlation of XRT movements to GME

When XRT starts heading back up..GME should as well

Note

Ok we should find support around here and head higher...provided XRT and the broader market start moving higher

Note

Watch for a reaction to VWAP around 23.54..day traders are most likely waiting there to short this back down

If we break higher thru that level we should keep running

Note

Hopefully, if you didnt see it...now you see why we keep pointing out the correlation between the broader market. XRT and GME..

Once XRT fills this gap (or gets close to filling) and finds a floor GME should find a floor

Note

XRT still trying to fill its gap which is dragging GME down..

Thinking we see GME finally get some footing around the 22.25 level

Note

Ok thinking we are close here

Notice how as XRT has gotten closer to filling that gap GME is getting more bouncy..

Note

Take note of the the intraday VWAP for today

Shorts may still be lurking there..ALGOs are definitely watching

Note

And thats a wrap!

No surprises at all today

We have been warning about the weakness in the broader market and its potential affects on GME

Case in point: that last push lower coincided with a dump in XRT

That type of of thing will continue so get used to it for now...

L E T S G O

Note

Morning!

Casino will be open soon

Looks like the broader market is getting some strength so we should see GME move upwards today

L E T S G O

Chart above is the guide

Note

And thats a wrap!

Very nice day!

Market got some legs after the Fed comments and GME, as predicted, did too

EXPECT THE SYNERGY BETWEEN THE MARKET AND GME TO CONTINUE

L E T S G O

Note

Morning!

Casino is about to open

Nothing much to add other than we are still looking up

Watch for synergy between the market and GME

Chart above still works for now

L E T S G O

Note

When XRT turns back higher..GME will too

Note

Not financial advice but this is a good place to BUY if you have some spare change

This low around the 21.50 area may very well mark GMEs monthly low for Aug

Note

One word: BUY

Prediction: this move down in price will end up being the lower wick of what will be a BULLISH monthly candle

Note

Morning!

Casino will be open shortly and man is it spicy across the markets this morning lol

GME being dragged down pre-market along with everything else..

From a price structure standpoint NOTHING HAS CHANGED...and we know thats hard for some to believe..especially if you dont believe in the efficacy of Elliott Wave Theory (EWT)

As we have been pointing out, as XRT goes, GME will go for right now...

With that said we truly believe this move down so far in Aug will end up being the lower wick of the Aug monthly candle, which should be BULLISH

STAY ZEN AND B U C K L E U P

Note

Breathe...you are not wrong about GME

Note

And thats a wrap!

Things are getting SPICY

As the market finds some legs and moves back up expect GME to find a bottom and head higher as well

We told you this move down at the beginning of the month is going to most likely be the lower wick of what will end up being a BULLISH MONTHLY CANDLE...this is a major buying opportunity as we dont believe we see these prices again after this month

Note

Remember you heard it hear first:

MOASS TRIGGER LEVEL: 38.50

Short Hedge Funds CANNOT let price break over that level..

That is the level where price will get uncontrollable..

The danger zone area is where we will see a massive increase in volume in GME and is where the fuse ignites for MOASS

REMEMBER WHO TOLD YOU FIRST

Note

We have so much faith in Elliott Wave that we want to go on the record again regarding MOASS:

MOASS TARGET PRICE: $1869
(with potential for smaller volumes of trades going much higher as previously explained)

Timeframe: By Feb 2025

Note

Why is 38.50 the MOASS trigger level?:

VWAP and the correlation with the price at which the 2022 GME SWAP agreements were executed

Couple that with the explosive price movements around that level and its pretty clear to us that Shorts get in a pickle when price breaches that approx level

Note

Morning!

Well here we are...

The Market weakness that we have been talking about has materialized more than ever and is dragging GME down too..as we said

BUT...there is a reason we have had the above orange support box on the chart for months now...we knew that area would end up being important from a price structure standpoint

And as long as we hold that area we are OK...

Now we are about to see who is REALLY DIAMOND HANDS

B U C K L E U P

Chart above is the guide

Note

Ok lets have some fun with Elliott Wave and show how it can be a powerful tool to help determine direction

Provided we hold the 19.50 level we are headed to 21.13

Note

19.50 is holding so we are headed higher for now

Note

XRT is in agreement with the move higher

Note

The 21.13 level on GME should be hit when XRT hits 74...

Just pointing out the continued synthesis between their movements

Note

And thats a wrap!

GME recovered as we expected and is heading towards our micro targets as called out below

Should see some resistance around 21.13 but should continue higher towards the target...

Note

Morning

The casino will be open soon

The market looks to be gaining some bullish strength...for now...which will help give GME some juice to continue higher

As we said yesterday we are going to have some fun with Elliott Wave and track this at a more micro level

Chart above works for now

Note

BUY!

Note

The 21.13 level is providing some resistance as we called out yesterday but we should be heading higher soon

Note

Also note the synergy with XRT that we called out yesterday

Note

And thats a wrap!

GREAT DAY....as expected...

Expecting the green days to continue..

Take note of the Support/ Resistance identified on the chart..

Expecting price to respect those areas for the most part over the next few days but will adjust as needed

B U C K L E U P

Note

Morning!

The casino is already open but price is moving as expected

Expecting a green day today along with the broader market

Chart above works for now

L E T S G O

Note

Support holding

Shaping up to be a good day as of now

Note

Adjusting support a tad based on recent price action

Note

Get ready..almost time to move UP

Note

We dont show our Elliott Wave Counts that often but this is a good example of how Elliott Wave Theory can be used to define zones of support and resistance

With that said we should be heading higher soon

Note

Ok time to look up

Note

And thats a wrap!

Didnt get the green day we expected (expected drop took longer than we thought it would) BUT price moved exactly as expected

DEFINTIELY looking higher

B U C K L E U P

Note

Morning!

Casino will be open shortly

Market seems to have responded favorably to the Jobless Claims report which should help give the market some bullish strength

That will help nudge GME along on this trek higher

Chart above works for now

B U C K L E U P

Note

Looking good!

Note

Ok we are starting to enter an area of resistance

We should see some sort of pullback around the 22.50 area

Note

And thats a wrap!

Another good day!

Support held and price moved up to our resistance area

Expecting more upwards movement over the next week or so

We should all keep an eye on the broad markets as they will affect how GME moves..

B U C K L E U P

Note

Morning!

Casino will be open soon

Nothing much to add here other than we are expecting a green day

Chart above works for now

L E T S G O

Note

And thats a wrap!

Well we got the green day we were expecting but as we said price is in the resistance zone so things are a bit choppy

Price should get moving once we break above that region

L E T S G O

Note

TEST UPDATE TO CONFRIM IF OUR UPDATES ARE BEING SURPRESSED

Note

Morning!

The casino will be open soon.

Expecting another GREEN DAY today

BTW- we have not figured out why our updates are not refreshing the last updated date.

As of now we are adding it to the long list of strange happenings around GME lol but boy we hope Tradingview isnt a cog in the Hedge Funds wheel of deception

Note

And thats a wrap!

Didnt quite get the green day we hoped for (anybody seen the volume lol) but price is generally respecting the support/resistance areas we have called out

Once we are done consolidating here we should move pretty quickly to the 24 area of resistance and then we should see a decent pullback which will setup us up for a run to 30

30 is right in the middle of what we think is a DANGER ZONE for shorts btw

B U C K L E U P

Note

Morning!

Casino will be open shortly

Generally expecting more green movement today

We should see the broader market find some temporary strength which should help nudge GME along

Chart above works for now

BTW- we are working on getting a Youtube channel setup so that we can post our ideas on a more responsible platform. Tradingview is clearly suppressing GME related ideas. Their support team is being intentionally unhelpful and its sad to see lol. Really sucks that this platform is in bed with the Hedges

Note

PSA:

We published a new idea on GME (its just a continuation of this one).

We linked this idea under the related ideas

Lets see if they hide that one lol too

Heartbeat_Trading

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