GME under siege by a "short ladder attack".
Updated
I SUPPORT THE WSB CAUSE, BUT this will end badly.
Can you not see the amount of BS being posted on the WSB subreddit? People who have no experience trading (and admit it) are being upvoted to top comment. This is like the sheep leading the sheep, the same way the bitcoin subreddit was at 20k, all the while miners were dumping on their faces. (Source: CQ data)
Retail traders have weak hands. Smart money uses retail traders to exit their position at current prices. Retail sells the bottom and buys the tops. This never changes. On the GME reddit you see traders bragging about their 200s entry price, their 300s entry price.
Reminder that each time people buy something it creates a potential seller. Lots of buying into an ask wall and price dumps = traders get stopped out, they get margin called, their options become worthless, etc. It always ends badly.
Retail traders do not have infinite money. GME down = hands get weaker.
Short term I think there is a bounce but price will be unable to get past 415. If you are long GME, make your own choices but gamble responsibly.
FEEL FREE TO ARGUE WITH ME IN THE COMMENTS but keep things respectful.
Can you not see the amount of BS being posted on the WSB subreddit? People who have no experience trading (and admit it) are being upvoted to top comment. This is like the sheep leading the sheep, the same way the bitcoin subreddit was at 20k, all the while miners were dumping on their faces. (Source: CQ data)
Retail traders have weak hands. Smart money uses retail traders to exit their position at current prices. Retail sells the bottom and buys the tops. This never changes. On the GME reddit you see traders bragging about their 200s entry price, their 300s entry price.
Reminder that each time people buy something it creates a potential seller. Lots of buying into an ask wall and price dumps = traders get stopped out, they get margin called, their options become worthless, etc. It always ends badly.
Retail traders do not have infinite money. GME down = hands get weaker.
Short term I think there is a bounce but price will be unable to get past 415. If you are long GME, make your own choices but gamble responsibly.
FEEL FREE TO ARGUE WITH ME IN THE COMMENTS but keep things respectful.
Trade closed: target reached
~70-90 was the goal.Anyways, this won't go down without some pumps. In the end it will probably hold a decent price, higher than what it would have without these pumps.
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