Has the FINAL Short Squeeze begun?
Updated
Has the FINAL Short Squeeze begun? Is the Prophecy coming to pass? Is Armageddon finally here...... Hedgies will begin to run.... and by run, I mean COVER.... Good for us.
Price is up from 52+-, TO 80+ opening 30 minutes. Volume is higher than it has been in the previous 6 trading days for GME.
Broke multi day trend lines. Is reproaching the 200 day EMA at around 122 +-
If this happens, I believe it will rebuild support at these levels, and it will begin its take off to the stratus sphere. Why is this happening now?
3 potential reasons?
1. Price is Low... 50 or so a share at open and MANY who have heard the calls to action want to get in.
2. Many who are holding want to double down or average down (Increasing buying pressure)
3. Hedgies who are short GME, in great volume, need to act. The rising interest on their short positions, AND potential LOSS of gains from the Armageddon soon to fall upon us is incentivizing Hedgies who are overextended on their shorts to GET out asap before their realized gains are gone or before they CAN't get out.
Theoretically, if NO ONE SELLS. Everyone HOLDs with Diamond hands, and more shares are purchased, there will be NO outstanding shares for Hedgies to buy in order to cover their shorts. Causing the price to rise dramatically and only stabilizing/reversing when WE SELL. I will be waiting happily with diamond hands for the prophecy to unfold. Good luck. This is NOT investment advice. I don't know anything. Please don't listen to me and do your Own research........ I just REALLY Like the stock.
Price is up from 52+-, TO 80+ opening 30 minutes. Volume is higher than it has been in the previous 6 trading days for GME.
Broke multi day trend lines. Is reproaching the 200 day EMA at around 122 +-
If this happens, I believe it will rebuild support at these levels, and it will begin its take off to the stratus sphere. Why is this happening now?
3 potential reasons?
1. Price is Low... 50 or so a share at open and MANY who have heard the calls to action want to get in.
2. Many who are holding want to double down or average down (Increasing buying pressure)
3. Hedgies who are short GME, in great volume, need to act. The rising interest on their short positions, AND potential LOSS of gains from the Armageddon soon to fall upon us is incentivizing Hedgies who are overextended on their shorts to GET out asap before their realized gains are gone or before they CAN't get out.
Theoretically, if NO ONE SELLS. Everyone HOLDs with Diamond hands, and more shares are purchased, there will be NO outstanding shares for Hedgies to buy in order to cover their shorts. Causing the price to rise dramatically and only stabilizing/reversing when WE SELL. I will be waiting happily with diamond hands for the prophecy to unfold. Good luck. This is NOT investment advice. I don't know anything. Please don't listen to me and do your Own research........ I just REALLY Like the stock.
Note
UPDATE: We have all been sitting and waiting for the Squeeze, which has yet to arrive, however for those of us with our hands and feet in the ride at all times, we are having fun. My original assessment of the Squeeze Activation was incorrect and too pre-mature, my apologies for this as I fell for the hype, like most others. It was a fake break out, likely a result of a small Gamma Squeeze, probably triggered by ITM options contracts and not shorts. The Gamma Squeeze and the expiration of ITM options is the Fuel to this whole GME Saga... It is text book time. Go read up!
We've recently seen a super quick rise in price from around $45 to $97 in approx. 45 minutes, with halts in between, and a rise to $200 in after hours. For those of you holding positions in GME from around $45-50 a share, you must have been stoked! I sure was. Haven't seen that kind of green in my brokerage account.... Ever on a single trade. But I will state confidently, that I have not sold a single share or a single contract and do not plan to.
The Thesis for GME remains the same, though AMPLE data and information has surfaced further solidifying the thesis that there is a Short Squeeze in the pressure cooker... It is just a lot larger and more aggressive than previously understood. The details of this situation are far too in depth to cover here, but I will say that my target is well above our previous January intra-day high of $483.
I will add a link to a quick (reliable) synopsis of the GME situation here: youtu.be/mY_sk907MYg
If you are currently holding shares in GME, let me know your entry date/point and if your are preparing for the squeeze! Would love to chat. If you have questions/comments/concerns, I'd be more than happy to discuss! Good luck Apes, and let the Squeeze be Squoze.
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