GME to $50 SupportUpdating monthly chart trade from before. We have hit the first monthly MA support. I think its inevitable we go lower to the lower MA for support which coincidentally aligns with the $50 resistance range that may now become support. Judging by the timeline it could be another year before any kind of MOASS, which is good for any long term holders. Good luck!
Moass
$GME JAN PUMP starts next Monday!oh hello hello hello there my fellow GME CHADS! I expected price action to be flat (-/+5%) the past two weeks, and i still think that is possible if we have another up day tomorrow. I originally anticipated the start of the Jan Bull Cycle to begin on 1/10 and nothing has changed that! If anything, the aggressive shorting made me even more bullish for the PUMP!!! Remember buying fear is the way to go and right now the bears and MM are tryna install a lot of fear in us GME CHADS but as GME Diamond Hands CHADS we dont sell or get fearful, we buy the dips!!! This was a wonderful dip for me as i loaded up on some $160 calls that are gonna turn into lambos after this GME JAN PUMP!!! Buy your moon tickets now CHADS and remember the shorts never closed!!! NFT MARKETPLACE, 0.5$ puts exp soon, DRS!!! Lots to be excited for this coming year my friends.
RC poop tweet and GME’s future price action RC has tweeted on several occasions something poop themed. From Harry’s ski chateau blowout to an ancient looking compooper chair to taking a glorious dump in the metarverse. I anticipate a retest of the lower trend line before price begins to reflect the massive upside we all know GME has. Maybe RC was hinting at more bearish PA before the rip to the heavens.
MOASS or loss porn? An opinion on AMC Entertainment.Dear babbling smooth brained baboons of the interweb, it's your ol’ boy Magnus here!
I have come to present a case for AMC. I do believe we are about to witness the end of the “battle for $40” in the war of “The smooth brained simians vs. The hedgies“.
Now dear fellow, I know you have never seen such artistic magnificence before! But do stop licking the screen and allow us to move along, ei?
Well, as you can see. According to my most sophisticated calculations we should either MOASS or have lots and lots of epic loss porn for our ape brethren over at r/wallstreetbets before the year is out!
Disclaimer: This is not financial advice. It is an opinion. Magnus is not a financial advisor.
Is history repeating itself? GameStop-the run up part two. It appears that GME is preparing for launch on the monthly time frame. Candles from pre January liquidity test are printing same pattern.
My preferred method of trading GME is quite simple. I buy big bags via IEX, I DRS as soon as shares settle, I rinse and repeat.
Big moves are comingFrom a cyclical perspective, and with Heikin Ashi candle sticks, we can see better the cycle of AMC. It forms sort a huge cup and handle on the weekly chart, a reverse h&s in the 1h chart, a neutral RSI in short et midterm charts and a volume divergence where bears have less and less momentum creating higher lows. I don't thing there is going to be a final sell test, but i could see that we stay neutral for a day or 2, and have a strong move up after market maker clean up the options chain. With Fib levels i see this kind of move, plus with Elliott wave we look like we're finishing the a-b-c-d-e bearish pattern (like dave pointed in his video) in the longer term perspective and ready for a reversal very soon. Last thing, there is lots of Gamma in the options chain close to Jan 2022, so it could be triggered around this date. NFA, just my opinion on the stock I love haha! Cheers!
Crucial SPY test ,MEME counter argument The Fed..
Scholars running the show are now, after denying the fact that the Evergrande mess was contained, are now admitting that the ramifications could spill into the U.S. Economy.
The Fed..
Also sent out a WARNING that the act of holding a meme stock threatens the stability of the U.S. Financial system.
I would like to point out that holding meme stocks isn't the actual problem. Though I am very biased on this, as I am, and have been accumulating AMC for about a year now, the issue is what has happened to make "MEME" stocks an issue along with why it's being called a "MEME" stock.
In my early 20's I worked as a crane rat, learning everything from mechanical to electrical engineering along with ladder logic programming, how to diagnose an issue with a piece of machinery crucial to any random company that needed one repaired on the fly.
If it was a mechanical problem, MOST times it was an easy fix. However when it was an electrical problem there was a lot of wire chasing looking for a short , an issue with software, a bad high or low voltage coil. If it was a fuse, what made the fuse , or circuit pop? Was it a short, or was there a mechanical problem like a bad bearing that led to an overdraw of current that popped or blew the circuit?
In the event that it was certainly a mechanical issue it was fixed by replacing a bearing or what not.
Let's look at the accusation of holding a "MEME" stock as a disruptor in our beautiful financial system.
Let's compare our Financial system as an electrical circuit , which it basically is. You work, you get paid, you spend, money goes back to the manufacturer and you get paid again. The more efficiently you spend your money, you develop a savings and invest in a stock that seems to be doing really well, in the hopes you can increase your nest egg.
When the circuit is broken the fuse blows and the system goes down, not just because of a mechanical issue but it could also be a software issue.
Let's look at the mechanics of the financial system as well.
(1) From Investopedia, "Individual and institutional investors come together on stock exchanges to buy and sell shares in a public venue. Share prices are set by supply and demand as buyers and sellers place orders. Order flow and bid-ask spreads are often maintained by specialists or market makers to ensure an orderly and fair market."
Seems legit right? Everyone is happy, everything works, and best of all its cyclical . I absolutely love this system! It is FLAWLESS! It works, the machine is in tip top order, clean and ready to rock.
It's only when one of the 3 main and/or 6 sub parts of this machine goes bad that we find issues in the circuitry, mechanical and software end of it, and it fails.
These 3 main and 6 sub parts are as listed in the quote above from Investopedia:
1.)The Electrical;
I.) Individual
II.) Institutional Investor
2.)The Mechanical;
III.) The buyer
IV.) The seller
3.)The Software;
V.) The Specialist
VI.) The Market-Maker
Let's test my in the field diagnosis of this machine:
1.) Looks like the Electrical is working just fine. Stocks have been bought and sold by both investors and institutional investors on a day to day, month to month and year to year basis. Heck I even know a guy who has held Microsoft for 35 years. He keeps reminding me how it "IPO'd at 21 bucks a share". Seems legit to me, This is how it's supposed to work.
(2) From the "Wall Street and the Stock Exchanges: Historical Resources web page:
" Stock exchanges have a long history in the United States. In 1790, the Philadelphia Stock Exchange, originally named the Board of Brokers of Philadelphia, was founded. Two years later saw another big competitor—the New York Stock Exchange."
If "1" is working, let's check the mechanical end of this machine: The buyer and seller
III.) Looks like the BUYER end of this machine is working. I can certainly see it's been heavily used and may have had some problems along the way, which I can certainly hope have been repaired. {Robinhood} . Further diagnosis is needed. In this case I would write a note to myself and carry on with the diagnosis.
IV.) The seller. This looks pretty good, minor wear to it, but it is functioning as intended. Certainly not as bad as the "BUYER" end of it.
the Electrical end of this machine has had some problems, a note has been added but overall still seems to be functioning correctly.
This puts me at my third stage of diagnosis. If the electrical and the mechanical aspect of this machine are working, and I haven't overlooked anything, the problem must be in the software.
Let's analyze first the directions of in which the market is supposed to work:
From the instruction manual :
(1) "Individual and institutional investors come together on stock exchanges to buy and sell shares in a public venue. Share prices are set by supply and demand as buyers and sellers place orders. Order flow and bid-ask spreads are often maintained by specialists or market makers to ensure an orderly and fair market." ~ Investopedia
Well, would you look at that!?!? Seems We found the glitch in the machine.
"Order flow and bid-ask spreads are often maintained by specialists or market makers to ensure an orderly and fair market." AND
"Order flow and bid-ask spreads are often maintained by specialists or market makers to ensure an orderly and fair market."
Seems we found the issue, it also seems why we may have found why the "Buyer" showed some defectiveness as well.
This is why no one singular person or anybody should feel singled out for ruining a perfectly working machine. It is when "Special instructions" are issued to a machine without the engineers approval that the warranty is void.
The repair is very very simple. As a field tech, I would simply allow the machine to fail, remove the software and build upon the roots that established it as a working machine.
Let's start with a buy is a buy. what does this mean? This means no dark pools. Not for you, me or God. A lit exchange is necessary to have an open and fair market. A buy is a buy and a sell is a sell . There isn't a loop hole in that. what it does bring to light is a buyer beware and ensure stop losses are set.
T1 settlement. My electric company has the ability to shut my power off remotely, we have high tech machines that do transactions at light speed, but it takes 3 days to transfer money from one place to another? come on, this i T# and T2 settlement shit is rubbish.
Abolish PFOF. This actually should be placed at the top of the list. With todays applications on the Cellular networks, there is absolutely no reason PFOF should exist! Want free trades? Deal with this advertisement first. Or subscribe to our non advertisement plan for blah blah blah a month.
a system much like Bitcoin or Ethereum, where every transaction can be placed recorded and viewed publicly. Which is tied hand in hand with the anti-dark pool update.
Here is your machine from the 1790's working as intended, more efficient and more transparent. When something goes wrong you know exactly where the error occurred.
I am thinking of doing a Yellen , Pelosi essay next. It will be titled Cybernetic Untrustworthy Network Tyrants as soon as I finish some well deserved solitude from the markets and my working life.
Credits :
(1) Investopedia.com "How does the Stock Market work"
(2) Https:guides.loc.gov "Wall Street and the Stock Exchanges: Historical Resources
(1)
AMC " 1 banana 2 " The handle of this pattern is just about complete. if we break 44.34 which will end the cup and handle pattern, the measured move, is right around 54.33. Under normal circumstances and I stress the word "NORMAL", the measured move generally exceeds the dip of the cup. Under FOMO its anyone's guess where it goes. Either way apes, the bananas are on sale! Get some while they're cheap.
Good luck to all , and Happy Friday to everyone!
$AMC bringing tendies just in time for thanksgiving!Here is my rough estimate for AMC prices this month based on the previous cycle. last couple weeks line up to a T and I expect the prices to continue following this pattern. Im guessing AMC hits between 140 and 280 on the 23rd as the peak for this cycle.
Possible $AMC Squeeze This MonthSimple trend analysis of $AMC.
I'm seeing many similarities in Jan-Jun as I am in Jun-Oct.
If we continue to follow the pattern from the previous squeeze just as we have been for the last 5 months, we could see the following:
Nov 4th - 50
Nov 16th - 60
Nov 17th - 73
Nov 18th - 100
Nov 23rd - 246
Will this be enough to trigger The MOASS?
Only time will tell.
AMC Future Move?Look at the similarities, where it retraces and bounces. Also the George Dubyah (aka Double Bottom). Looks like crap but it tends to be following same pattern but longer since HF dont want this to move like it did. Think of it as trying to make the fight longer, but at some point it ends. I feel like the breaking point where they start to cover will be around $90-100 mark because GME battled around this area before it made its move higher up. Think its a psychological point where they will give up and start covering. After that, who knows where we will go.... Actually its the $118-132 mark without the shorts covering. With shorts covering, is a different question that remains unanswered. Therefore, P I C K Y O U R F L O O R , N A M E Y O U R P R I C E
Possible $AMC Squeeze In NovemberSimple trend analysis of $AMC.
I'm seeing many similarities in Jan-Jun as I am in Jun-Oct. If cycle theory is true, we could see a repeat of the last two squeezes playing out on the $AMC chart in November.
Will this be enough to trigger The MOASS?
Only time will tell.