Bagholders beware. I am going to short GME. Recent pinbar on the daily off its dynamic support after breaking through it. I expect this to continue cooling off for a bit. MACD cross about to happen on the daily chart as well.
If you're going to short, don't do it until atleast post earnings (23/03). Any catalyst from earnings and we could see a continuation of the gamma squeeze which could morph into a short squeeze.
neatfreak301
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@harrisoncamm, excellent point. I would not short it before Earning reports. Suicidal.
km77
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The best time to short is before earnings for maximum risk reward if you are crazy like that. Seems everyone is forgetting that it will take at least a year for GME to start showing positive growth in their ER as it takes time for their new marketing strategy to take hold. If their ER is less than projections, which it likely will be due to console manufacture shortages causing loss in sales for them, this stock is going to plummet post ER. At that point would be the best time to go long on the stock as this retail bubble cycle finally comes to a close and real world fundamentals take over the stock again.
UnknownUnicorn15938338
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@km77, Disagree lightly as of now, probably strongly after tomorrow. What you are saying is exactly right, but I think most people, especially the bulk of individual investors worldwide, underestimate how far GameStop Corp actually is with the move to digital. I am almost certain they will beat 10Q tomorrow, and let's see what else will be announced tomorrow - market opportunity is tremendous, the Corp just had shitty managers that didn't tap into it, this might change very soon. Yes, real world fundamentals will take over sooner or later, and the fundamental value of this company is not even met with it's current price/share.
km77
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@masHugac GME will be worth the current trading price and even more years from now I am sure as well, but the current price and any future higher projections is nothing more than speculative at this point and I would have to disagree that this is its fundamental value as of right now. Yes big restructuring taking place at the helm of a tried and capable CEO, but fundamentally it will take a year if not longer to see this current speculative price be fundamentally supported as well. Ultimately I agree we will have to wait and see the up coming ER to really get a feel for the long term, just based on my own DD and the current economic impact COVID has had on manufacturing of consoles which has hampered supply, and more customers turning toward other avenues of purchasing of games via digital download direct from Sony/Microsoft and taking advantage of competitive discounts offered by Amazon, I still strongly believe the upcoming ER will not be anything amazing to catapult this stock further or even validate its current price short term. If anything, further information on future plans with the company and future projections will be key in the up coming earnings report, more so than earnings per share. I could see this as the only possible potetional to help this stock short term in addition to long term.
UnknownUnicorn15938338
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@km77 "If anything, further information on future plans with the company and future projections will be key in the up coming earnings report, more so than earnings per share. I could see this as the only possible potetional to help this stock short term in addition to long term."
Agreed there
ravma01
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lmao going short into a huge fucking cup and handle