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$GME - November 2022 run, keep it shortThe 2022 November quarterly GME run is here. I'm looking at my indicators to see whether we're gonna have an Opex or Nopex. 2/4 of my indicators tell me that it's a coinflp between an OPEX and a Nopex. Sorry, i know this is not what you wanted to hear, but... 1) Indicator 1 - Swaps (Negative) Swaps on GME the other peripheral stocks like AMC/BBBY/XRT are minimal as usual... This means that there's no swap based volume support for this rally and that it's possibly all moving just due to dealer hedging for 0 to 1dte options for this big Opex. TLDR: Swaps say there won't be a big move up next week. 2) Indicator 2 - XRT Put OI Drop (Positive) According to a source who has his own indicator based on XRT's Put OI where if the OI drops on certain dates, it indicates that a run is coming soon... he says that the Put OI drop has occurred and that we're up for a run. This indicator has worked for him 2/3 times so far, so his indicator is positive for this run. We had a previous Nopex where the indicator strongly showed we're due for a run but we instead dumped. 3) Indicator 3 - Market Opex Behavior (Mixed) There's a certain behavior the market does during Opex which strongly indicates whether it's an Opex or Nopex. -We dump for the second and third week of the month (Sorta happened) -Near the end of the third week (this week) there's a magic market recovery on Thursday and or Friday (Happened) -Vix starts to drop on Friday (Happened) This indicates extreme confidence for a run next week. It's one of my strongest indicators. However, in the previous run for August and the one in May, what has started happening is that the entire market is that some big names in the market pump on the first couple of weeks of the month, then they dump and while they're dumping, some of the other less known memes are pumping in the second week. On the third week, GME the main memes run for 2 days indicating something will happen next week, but then as the weekend passes and Monday comes, the market dies and it dies all the way into the next month for 15-20 days. 4) Indicator - 4 MSM Behavior Basically the current market gives me no choice but to buy a few calls for next week for GME, then i need to see if the MSM will tell us all that the world is ending on Monday with Monkeypox(Where did the marketing team on Monkeypox go btw?) or an ICBM from North Korea or something about inflation suddenly being super serious during the weekend, then it means they want everyone to sell and this we're in for a GME run and price pump. If there's no reports of world ending events, be scared and dump your calls. 5) Indicator 5 - OCC Hedging Loans The OCC shows how much collateral is being posted for short positions. Basically if there's gonna be pump on Monday, there will also be an increase in the OCC's Hedging Balance for certain stocks. So far the data shows a small trend upwards as of a few days ago, but it is unconfirmed as it's still a really small curve. The big data comes out tomorrow because the OCC data is EOD data for today, and so we'll know then if someone's doing something next week. 6) Indicator 6 - Borrow Fee The OCC hedging loans & the borrow fee go together. If one increases, the other will increase along with it and this indicates that we'll have a massive pump next week. The borrow fee has increased a little bit but not enough to indicate a run. Also the OCC hedging balance has not increased yet to indicate a run. Again, must wait to see how today develops. The prudent action here is to get calls first, ask later (Chukumba) Lastly Keep in mind that if we do run up and not down next Tuesday, the initial spike is usually the biggest e.g it's all downhill after that. If the spike isn't big enough for the day, it means that the run isn't on next weeks' Tuesday, but the week after. You have to adjust your strat accordingly. These cyclical runs behave in a certain way that i've been watching for the past 2 years now. TLDR, i'll update this post with new comments of what's up over the weekend and on Monday to tell you if we're running or not. Conclusion I think the market's gonna dump and that we're seeing some pumping today is because of heding requirements for 0 day to expiry options. There will obviously be the usual price pump on SPY and many stocks 15 minutes before close as brokers pre-emptively close people's expiring options which will cause a tiny pump, but i think that's all she sang. I need to see today's EOD OCC data to be able to say that we'll have an SLD Opex next week and not a Nopex. So far i'm negative for a successful opex, but i have to grab a few calls to be in just in case. Also keep in mind FTX just fell and if it was reaaally being used for locates, then this opex could be insanely good unless they have a temporary stopgap for now. The reason why i didn't want to mention when the cycle may occur in my last post is because people buying calls on the day of the pump MAY (unconfirmed) cause price suppression due to hedging requirements and may be why our SLD/Opex runs are so weak or inexistent. Alternatively the reason i believe more likely to be the reason for diminished Opex/SLD runs is because of the successful campaing on Reddit to make people not buy options over time. No option buying, no dealer movements, no price movement. Again, equally, it could all be because everyone DOES buy calls & hedging those on the dealer side is what screws us. Regardless, this last of part in my conclusions is more close to theories and tinfoil than something you should listen to i think (Up to you really). I wish you luck on whatever you decide to do. I'm keeping my long puts on most of the market and some straddles i have on other names like BRK.B & RBLX. For GME i already bought a few calls a few days ago on low IV and i'm hesitant to get more at this point with this IV jackup, but i might grab a couple more... i dunno. You can bet ya that CC sellers will take advantage of this IV and will sell CC's into it... so be careful, don't go nuts on this cycle. Until next time regards.
NYSE:GMELong
by leenixusu
4
15 min Double top!!!We can see the Confirmation of a 15 min Double top this morning when looking at Gamestop. Also the Relative Strength Index is weighing heavily on the overbought side With the moving average convergence divergence also looking to cross downward. Possible small 2 to 3 dollar dip in the next coming day or days before it starts to make another run back up leading into the last Quadruple witching for the year which will take place on Dec 17, I think we should see GME at new quarterly high about 2 weeks prior to witching and then will fade back off until next quarter in 2023.
NYSE:GME
by impossiblebull
GME LONG IDEA Markets look like they recovering not fully convinved looking that being said this the hot take on GME if price breaks those orange levels i see a good clean 34% yield as there is no significant resistance ahead (also could be perceived as a double bottom) still marked out the levels just in case it rejects the orange the exclamation mark heeds warning targets (how deep its grave is going) or potential short tp's LIKE FOR UPDATES COMMENT UR CHARTS N FUNDAMENTALS SENNA SEASON
NYSE:GME
by Bekiumuzi_Dube
$GME rare opportunity 👁‍🗨 *This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Here @SimplyShowMeTheMoney we strive to educate our traders on the importance of being able to recognize rare occurrences in the market structure on a chart. Today GameStop $GME presented us with a rare opportunity in its structure that my team simply could not ignore. We watched $GME open at 12% and shoot up to around 20% before retracing all gains back down to the negative 1 hour before the final bell. This comes as we enter a busy earnings week with a 2-day fed meeting that begins tomorrow and numerous data reports that could ultimately dictate the direction of the feds and the market. $GME is no stranger to making headlines. With midterm elections right around the corner we wouldn't be surprised if $GME made a ridiculous move in either direction. My team was able to secure shares of $GME at $28 while it was red this afternoon. We have an automatic stop loss set at $27 due to the obvious risk factors associated with $GME. Entry: $28 Stop loss: $27 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NYSE:GMELong
by SimplyShowMeTheMoney
4
WATCH GME AND THE MEME STOCKSHere's my GME chart. Election week has potential to explode. If you can, a nice buy zone is forming right under $26. I'd say the max upside is $64, but momentum could carry it higher. I'd still recommending exiting at $64 if it were to get that high (unlikely scenario) Realistically, $25 to $31 seems to be a nice trade window, with the potential to trade the extra upside if it were to keep going. stop is around $21 I feel this movement will be quick when it happens.
NYSE:GMELong
by nicktussing77
1
$GME - Nov 1 Single Day RunThe first Tuesday after monthly options expire there will be some price movement for the entire market due to option T+1 and Share T+2 settlement from Friday's monthly expiries. As always, this will probably be a single day event. There's a possible downside of $19-21 before anything, or this may be the bottom, up to you to decide. I only know that there will be movement on Nov 1, no idea what happens before or after that. I don't know if this is the correct buy in area, i only know the price goes up on Nov 1. If i knew what happens beforehand i'd be rich. I'm more confident in the 1'st of Nov than i am for Nov 22.
NYSE:GMELong
by leenixusu
40
GME: Dip buying offers good risk/rewardGME Intraday - We look to Buy at 25.18 (stop at 20.18) The primary trend remains bearish. Price action looks to be forming a bottom, with higher lows being posted. The previous day's rally has been sold into. Dips continue to attract buyers. Risk/reward favours buying a dip with a stop below last week's low. Our profit targets will be 45.18 and 50.00 Resistance: 35.00 / 45.50 / 50.00 Support: 23.50 / 19.55 / 15.00 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
NYSE:GMELong
by VantageMarkets