One could say I'm reaching...A fun little analysis of GameStop. There's still an argument to be made for another impulse wave up if the top would be considered a 3.618 extension from the low last year.
Gamestop
ALERT - ETH Ready To Explode Higher This WeekendETH reached ATH yesterday of $1699 and has seen a healthy retrace back down to the $1556 level. Now ETH is forming an inverse Head and Shoulders pattern, and getting ready to explode higher over the weekend to reach $2K, before the incoming CME launch on 2/8.
Meanwhile, ETH is about to explode higher GME style, as a growing number of options traders are sitting on large unrealized losses following Ether’s (ETH) latest price surge.
Pankaj Balani, CEO of Delta Exchange told Cointelegraph that he has observed “a lot of naked call writing activity in ETH for deep out of the money call options all the way up to $2,000 and $3,000 strikes.”
A call option becomes deep out of the money if its strike price is significantly above the current price of an underlying asset — in this case, Ether.
Balani said: “As price surges, short call options positions are resulting in heavy unrealized losses, forcing option writers to buy more ETH in order to cover their short gamma exposure.”
Traders sold call options of strikes $2,000 and higher in December 2020 and January thinking Ether’s price would not appreciate as quickly and that their options would expire worthless.
“There is a chance that those sold options will not expire worthless,” he said.
As Ether moves higher, this scenario will only intensify, forcing additional buying activity.
In the options market, this feedback loop is referred to as a “gamma squeeze.”
ETH CREW: Let's converge and pull a GameStop-like gamma squeeze for ETH!!!
Cheers!
Source:
cointelegraph.com
Its not gameover for GMEIve been watching GME the last few days and today looked like a nice entry on the 1h. There still is room to go down, but i feel pretty confident it will pump on mondays open. Its under the 200 ma on the 1h and close to oversold on rsi. All i see is plenty of room to bounce up from here. Main takeaway here is wait for monday and see if theres a breakout. Either way its a buy and hold. Thank you and good luck in your trading.
Gamestop's Next Stop GMEIn this entire drop from $500 there hasn't been any support levels to catch the price. For now, I only see two levels of balance worth an entry. One is at $45 and the other is at $21. Not a super in-depth analysis, but in stocks like this I prefer to ignore all indicators and simply look at the levels the market has previous found of value.
AMC ST (February 2nd 2021)AMC Entertainment (February 2nd 2021 through March 2021)
Low: $0.15 - $2 - $4
High: $9.89
So in the short term, it's not looking good. Technically this could still get a bigger short squeeze in the future but we have a period of consolidation ahead of us for now if that will even be possible in my opinion. Otherwise this will get driven right into the ground. Grab the popcorn, it's heating up. The battle is on.
I do not have a lot of hope for the smaller retail traders right now. From what it looks like, a 4.236 fibonacci was fulfilled and there will need to be a LOT of buying to help recover past those levels again.
Now, if we imagine a scenario where the coveted pump happens so long as the bears aren't going to take over completely, the next levels to watch for serious selling action for could be: $40 - $64 - $88 - $102 - $165 - $264
But it needs to top its last high of $25 first, and it can be possible but is a lot less likely now that price has shuttered as much as it has the past couple days. Not looking good in my opinion but this will be interesting to watch.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
64 is comeback of GMEwhen volatility increases like that, don't use dynamic channels but just statics. 64 is strong static support and is an entry point and after 485 there isn't any dynamic resistance to 11691
$GME chart view 020421Looking again at the 30 minute chart of $GME, after a lackluster session... while the RSI appears to be slowly bottoming out, i would like to see it get much higher and gain momentum in the next few sessions, near or above 70. I would like to see the VI lines cross and stay above the moving average. My best speculation at this point is that 65-75 may serve as a consolidation levels, where we will either see accumulation with higher volume, or see it break below 65 and continue to have volume, RSI and VI go south. I think in a trade like this, volume and momentum is key as any other data point or fundamentals is out the window. As before, watch for entry points and don't chase, save your ammo and be sure to set limits and stops on this one. Good luck.
GME price action technically soundA simple TA starting from the low in April 2020 up to today. The peak represents Wave 3. If this analysis is accurate, then it would suggest that we are currently still at the Wave 4 level waiting for an impulse wave up to Wave 5.
GME SHORT SIGNALGREEN HEART WAS A SIGNAL TO GO LONG BUT THE RED HEARTS ARE SIGNALS TO SHORT. VOLUME IS VERY LOW. SELL BEFORE IT CRASHES!
A Game Well Played (GME)Yes, I actually presented the possibility of a massive short squeeze to all-time high levels for GME stock back in October. Here is the original analysis:
There were clearly some opportunistic investors who bought the lows on this one and made out like bandits. Unfortunately I wasn't one of them (I made the initial post by request). Even those who bought below $5 and sold at $30 did very well. The idea was that GME might actually be undervalued. Even Michael Burry ('Big Short' fame) had invested in the company. Time will tell if Gamestop can restructure in such a way that proves profitable and time-enduring. But clearly, this stock is a fan-favorite. The Millennials involved in the short squeeze certainly have an affinity for nostalgia. Just look at Nokia and AMC (remember when we could go to movie theaters?)
Many on WSB are now wondering what's going on, clearly. The herd-mentality is quite extraordinary, and together a large group of smaller investors was able to squeeze whales out of their positions. Unfortunately, the wealthy elite are the ones with the liquidity and access to massive amounts of borrowing. In numbers, when people collaborate they can certainly have an impact, and it's inspiring to see that happen here. HOWEVER, human nature always takes over, and people get both fearful and greedy. These emotions drive the markets. Big investors have the wealth to afford short term losses. In their mind, the market always goes up long term, so they will be able to recover their losses. But the wealth disparity is so great that when an individual risks their life savings on something like this, it will take a very long time to recover. So the fear is correspondingly much greater, and that fear makes the stock owner a paper hand. To really have "diamond hands" you need to be able to stomach losses of 50% or greater. Those who bought GME above $300 (I suspect there are a lot of them) are already down to less than a third of their original investment.
The name of the game is always liquidity. Unfortunately, after Robinhood restricted orders, buying pressure eased up, allowing prices to fall. Charts were going around displaying "low volume sells," but that's not the entire picture. In reality, it's the lack of buyers. Even though there aren't that many people selling necessarily, price can still drop if there are even less buyers to eat up the supply from the sellers. So price has dropped right back to where I'd expect it would - roughly near the previous all-time-high. Psychologically, the $65-75 range should be a moment of maximum pain for anyone who bought during the meteoric rise. And therefore, their panic-selling should provide the most liquidity for new buyers. If GME is to actually move up again, I expected these levels to be tested. This is the first time I see a potential buying opportunity. If GME falls below $65, it can head right back to my trendlines and much lower support levels. This is the risk. If one believes in this company's value long-term, these are the levels to look for entries. And yes, it can go all the way back to $15-17 and still remain in an uptrend!
Here it is zoomed in, so you can see my trendlines more easily. The green horizontal line is the previous ATH
There is still a chance for further squeeze action (yes, even towards those ridiculous $1000+ targets), but GME will need to hold above my trendlines, and ideally above the previous ATH. Ultimately though, once the final squeeze is done (if there is one) I expect the stock's price to fall back to earth and land somewhere in the $10-20 range. We'll see! I am not personally buying GME unless it gets back into that range and shows some promising business moves. But the $65-75 range is where I'd look for the first line of strong support, if I were trading this (previous ATH). Right now I'm looking to begin investing for the long term after building some capital using crypto market gains. Currently, I'm building small positions in stocks/ETF's that I think have room to grow, despite very precarious economic conditions. I do think we're nearing some sort of climax to a large debt/asset bubble. I'm very curious to see what happens in the next few years. Perhaps sectors other than big tech (green energy, new infrastructure, marijuana, nuclear, etc) can take the reigns and we can avoid a serious economic collapse. It all depend on the world's leadership, and what they do about the wealth gap.
I see a lot of people my age investing and trading for the first time. So in some ways, I am at an advantage with respect to my cohort, since I have a pretty good idea of how the markets work. It's important to have a PLAN, and many entered this frenzy without one. Some will become long-term investors, but many will lose enough money to impact them for the rest of their lives.
Part of this IS general investing advice, but this post is NOT a recommendation to buy or sell any particular stock. This is for speculation and education only. All I can say is be very careful, assess risk, and TAKE PROFIT. Profit and capital preservation is your POWER against fear. FEAR makes one a paper hand. And I acknowledge many around the world do not have the wealth or financial safety net to handle losses. To many, the market offers opportunities for those who don't come from privilege. But especially in those cases, it's immensely important to exercise RISK MANAGEMENT. Take that profit, enjoy it, and carefully plan the next move when you are ready.
-Victor Cobra
Gamestop , this will not end good We all know this. I don't short because I like this movement, and would not bet against it for a few dollars.
Gamestop Endgame - Think Aboutif u are a gamestop holder this post is for you. i, the great coinholio, shorted gamestonk last year, buying puts at $1.5 June 2021 for $0.40. i recently sold these puts for the same price, due to hedge fund retards broken IV algos lol. turns out a $300 dropping to $150 makes bots do some crazy options buys... my other position has been a long on the gamecock since $100 and sell at $255 (50%) and $110 (50%). i am all out of gamestock and do not plan to buy back in due to the risk.
if you are still holding, you probably look at wall street bets on reddit and see all these kinds of posts about "short ladder attacks" and "hodl". the truth is, hodl isn't always the right choice. in march 2019, btc hodl was the wrong choice, clearly evident by the halving and the looming toll of corona.
what u have to understand as a trader is that not everyone can make money on these plays. wall street bets wants you to think that this is "regular joe" vs "hedge funds", but cmon, lets get real... these have been hedge funds vs hegde funds 80% of the time. they aren't on the same side, they are always competing against each other and cannabalizing each other, and they have a lot more capital.
lets look at some of my opinions on what really happened
gamefomo retards will point out short interest percentages, and how its over 100%, the will adjust the numbers and calculations and do all this fancy cope, which you will believe because it sounds legit, but let me ask you this: what evidence do you have that these hedge funds didn't just close their shorts earlier and re-short at $400, causing the short interest to stay at the same %? in fact, isn't that what the ideal adversary would do? make you believe that the short interest % is the same place where it would be?
silver? of course nobody is buying silver, but wsb copers want you to believe that these hedge funds are the ones paying for "disinformation campaigns" against "wsb". keep in mine--it is unlikely retail traders are what is moving this market, i think that the primary movers are other hedge funds. they have more capital, are smarter than us, and make use of hft. understand your adversary, and know that in order to win, you must beat the next guy by out running the bear. you will never beat them--it is their job to do this nerd shit bro.
now back to this $400 dollar shorts theory i have. there were a lot of $800 calls that were boughtted a day ago, what was the purpose of this large volume of calls? i tell us my thinks about it: me thinks that these were the same short hedge funds covering for the small probability that wsb can actually drive the shares up past $800. let me tell you what this means: retard hedge funds re-shorted, they are very confident this is the end of the squeeze, but they is not 100% sure, so they put some money in options to cushion the blow in case they are wrong. this is normal action, and not indicative that there is a move upwards again.
the one final thing i want u to think about as a pro trader: imagine you are omniscient god, and know the direction of every stock in teh worl. you are a trillionare, and u are drinking marmalade in trader gandy heaven. you use your powers to know you are at the pivot at the gamestop squeeze, and then you log in to wsb... what kind of posts do you see?
do you see
a: people telling you that the squeeze is done and you should sell (lmao)
or
b: people telling you to keep holding
answer: of course retard, they tell you to keep holding so you can sell. this is a hamster circus, first in first out, last man standing eats the biscuit. gamestop might go to $5000, but the odds are that you will be the one to sell at that price are zero. short ladder attacks dont exist. melvion is out. the endgame is you either selling or getting rekt.
jk, just hold bro, tee-hee! diamond hams!
My Thoughts on GameStop, AMC, and HypeI wrote this post today to share my thoughts on what I think is a really interesting mental framework to use when thinking about trading or investing. I hope this post helps people make better decisions and I personally have made all of these mistakes. Yes, like many, I have lost on bad trades or investments, too. It's a reality of markets. Okay let's get started:
Did you know there are 3000+ other stocks in the market? That's right... 3000. Add in crypto and that's easily another 1000+ crypto projects. Add in forex and futures and that's easily another 500+ futures and forex trades. The point I am trying to make is, there is opportunity everywhere and never one reason to chase a single asset or feel like you missed out. Take your time. Be patient. Don't chase. Look at the entire market. It's wide open to you. There are trading and investing ideas everywhere. Patience is your best friend.
The next point I want to talk about, and related to what I wrote above is FOMO (Fear of Missing Out). My good friend tells me to embrace JOMO (Joy of Missing Out). The point here is that the market has been open for 100+ years. Crypto is open 24/7! It is not going anywhere. No one is telling you to buy or sell. Each decision is yours to own and only yours. You have to take ownership of your portfolio. There is no manipulation or scam going on other than your decision making in a marketplace that has been open for a long time and one that is now being enhanced by the proliferation of technology.
The same way you research a car or TV, hours of research, reading reviews, studying your budget, is the same way you should approach markets. There is no rush to do anything. You won't "miss the move." As I said, the market has been open 100+ years. JOMO is a great strategy in certain times. It's okay to miss out on a move because it will be open tomorrow, and the next day, and the next. Time is your friend.
I hope this framework is helping and now here's one more piece of advice: an old trader rule says "if a stock makes the news, you're late." What that means is someone who was more prepared, who had built a long-term plan, was involved before the news became a thing. It's important to remember that people do this for a living - studying companies, writing about them, reading about them, and building a position over time before the news cycle begins. You need to know this to think about who you are going up against when buying into news or hype. Otherwise you will chase news headlines and continue to be "late." Now of course, some people do chase headlines for a living, buying on big news announcements, but just remember that someone out there was there long before it happened. The awareness of this will really change your perspective on markets.
I hope this post helps and I wrote it because, like I said in the intro, this has all happened to me. I try to think about the markets with this framework in mind. The recent mania in AMC and GME and others has me thinking about all of this and I wanted to share it with you all.
Thanks for reading!
$GME - The Squeeze is coming. Final Boss Fight. Tomorrow.My original post: reddit.com/r/wallstreetbets/comments/lbds1e/final_boss_fight_its_happening_tomorrow_with/
Guys, it's happening. They know they are screwed. Yellen is having an emergency meeting tomorrow or the day after with the SEC heads, Federal Reserve, Federal Bank, Bank of New York and the CFTC and the meeting is about Gamestop Volatility!!!
yahoo.com/news/exclusive-treasurys-yellen-call-regulator-014419687.html
reddit.com/r/wallstreetbets/comments/lbdpbr/treasury_secretary_janet_yellen_to_call_regulator/
"What volatility?" I'm sure you're asking.
THE ONE COMING FROM THE SQUEEZE. They are mega fucked. Today only around 1.5% of float GME remains. There is sufficient real research on this sub that shows that we are ACTUALLY diamond handing.
reddit.com/r/wallstreetbets/comments/lb9s3f/bloomberg_terminal_looks_mostly_green/ (SEE LOCKED IN SHARES TOP LEFT RETARDS)
On another note, some people's sell limit at 3.2k and 5k got filled today for 1 single GME share on this sub.
reddit.com/r/wallstreetbets/comments/l7h8jv/gme_getting_filled_at_above_1000/
reddit.com/r/wallstreetbets/comments/l6z9d0/gme_filled_at_51k_a_share_this_morning_for_me/
Thesis:
Goldman Sachs and the big boys have deleveraged their stake in GME and said they are reducing risk while also calling what already happened as the squeeze and that other hedges deleveraged as well. I can't tell if this is FUD or if they truly believe this. This info is in their daily customer subscription mailers, only actual GS customers get these mailers afaik. I don't know what is the truth anymore.
If Yellen wants to meet for volatility on a fizzling stock that is 98.4% ish locked in by buyers, this screams all kinds of alarms in my head. They are either going to try and stop the party or they are looking for money to pay us and not crash everything at the same time.
Tomorrow is the final fight. Yellen and all the bigwigs are the bosses.
Also i think it makes sense for the squeeze to happen this week before Friday due to the naked short puts the HFTs have been selling that are likely 2/05 of expiry. They DO NOT want this squeeze to happen next week when all those shorts are gone and the price is back way up. They also don't want the squeeze to happen on Friday due to the extreme volatility due to their naked 2/05 puts.
If all that makes sense, this means that the squeeze is coming tomorrow or the day after and NOT next week or this Friday.
If none of this happens, Cohen still has this smoking gun to trigger it. reddit.com/r/wallstreetbets/comments/lbc6aa/cohen_still_has_the_opportunity_to_buy_another_7/?utm_medium=android_app&utm_source=share
Final words.
-Set your sell limits.
-SET YOUR SELL LIMITS.
-YES YOU.
-FOR THE NEXT 2 DAYS STRAIGHT.
-There's SOME consensus on the sub that realistically it should be ~800. Add a few lottos at 5k and 10k too as some people were lucky to get filled on 3.2k and 5k today. Don't get too greedy or you might not fill.
reddit.com/r/wallstreetbets/comments/lagd2m/millions_in_gme_calls_bought_today_at_800_hold/
Good luck retards. I am 220k in on GME and 80k in on AMC at 50% loss as we all are.
$GME chart viewLet's take a look at the 30 minute chart of GME, since this is a volatile and fast moving stock of late.
While many of the redditors are putting in more money, only to see the price go down in large percentages, they need to be looking at the charts and past patterns, with volume and RSI, instead of being in a tunnel of the WSB sub and only following the cries of "hold" "diamond hands" rhetoric. Also assuming that they know what the institutional investors are doing is also nonsense, in my opinion; these are very biased, self serving, and in the end, delusional to the point where their money is being put not because of any fact, but wishes and hopes to the upside.
if you look at the arrow marked spots on this chart back in the middle of January, you see three things in common: consolidation, rise in volume, and the rise in RSI. These eventually serve as entry points to the stock and you can see the breakout short time thereafter.
What we don't see right now is these three things. Volume isn't rising, even if it's higher than average; there is no consolidation; there is no rise in RSI. To keep buying at this point is a futile exercise, only to spend your cash at a price where it's doomed to go lower, at best sideways.
Look for these three factors before considering putting money in and catching the next rise higher; even then there are no guarantees. Set your limits and stops to protect yourself on this one. Good luck.
GME under siege by a "short ladder attack".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.
Gamestop On Balance Volume stays highThe price tanks hard, but the volume doesn't cover this.
This underpins the theory, that price at GameStop NYSE:GME stock is currently primarily driven down by short ladder attacks. Retailers or not selling big. They are holding the line!
You can easily see this today on daily and hourly chart.
So I think the price will recover to much higher levels, if retail selling pressure will not increase, as hedge fonds have to cover their shorts at some point and the expected shortsqueeze is about to come.
GME SAVA SPCE OCGN Charts Intraday!Chart reviews of the 4 stocks I'm watching. Also going over my trades for today.
