I posted an idea on GME yesterday where I did not even mention the price going down, I was very neutral and did not give reasons for the price going down 90%.
Still some bagholders that bought at the top got angry and started insulting me, maybe they think they can cyber bully me into silence? Lol. Oh boy, here we go.
How I wish I could buy a put on GME here from Europe. But I can't, what I can do though is paper trade. If I could I'd buy a put expiring DEC 2021 with a strike price of 100.
The Gamestop story is similar to the Blockbuster story, it's always the same story all over again, history repeats itself but this time it's REALLY the same story, to the details.
Their model just is not working. And if they were going to magically change they would have gone it long ago.
I am not saying a hobo has better odds that GME management, don't worry about them I'm sure they can bounce back if they want to, with another project.
Simpliest solution is to use the US government+FED trick:
- Sell some shares, use all the money from the sales to keep the business running
- Keep your entire salary and company profits in your pocket
- Start talking to people are you
==> "Monetize" the shares to have a starting capital for a new business and use the people you know and trust and can rely on to be part of it
You can compare GME to Bitcoin & Tesla, that went way up, but not before going way down:
I would buy a put and target $10, I would not sell it before the price drops below 100 in any case.
I could add to it on the way down, give it another kick while it's down. Once the price gets to 10 bucks thought I'm not sure it's worth it.
Or maybe it goes like HMNY
& BLIA
& SEARS
& LHHM (kek)
& ENE
& RSH
& TOY (Toys R Us)
& Remington Arms Company, LLC (after 200 years damn)
& Vanity (private)
& MCDIF
& SSI (Stage Stores, Gordmans)
& Southeastern Grocers
& SNH (I bought at 9 cents or so because I think bigger fools will buy btw :p nah honestly they still have over 100k employees and billions in revenues...but the price did go down 100%)
& CHUC
& WM/WAMU (the comeback! oh wait no haha)
& Worldcom (funny one)
& INTE
& JCP
& PCG
& Chrysler LLC/Chrysler Group LLC/FCA US LLC/bought by the dutch
& HTZ
& (Chuck E Cheese)
& Diesel
& BONT
& Claire’s (bought by vultures at Elliott mngmt the guys that tried to seize a warhip from Argentina trust me it's not to save the business)
& 24 Hour Fitness
& PYX (a "new era of hemp products you just don't get it")
& XL
& RIDE
& SUNE
& DRYS (congratulations to those that bought at 2000 and held but to be fair those that bought "cheap" at 20 and held also lost everything)
& MNKD
& VRX (awww ticker is gone from tradingview good thing I saved some screenshots)
& CXRXF
& GEVO
& PVCT
& GBSN
& MGTI
& EBIO
& ANY
& NWBO
& What was that company where trading was halted and held at zero?
& LINE
& SDRL (Well I guess the gap got filled - 100% good job fomo buyer & diamond hands This chart wow 🤣)
& INSY
& ANTH
& NSE:DHFL
& NSE:JPPOWER
& PC Jeweller (very famous Indian scam)
& Monsanto
& Mory Group (thousands of lost jobs, 6 years later 1500 workers sue the company that bought the bag)
& LSE: TCG. If you want to find a dead company in the US you scan bagholding forums, if you want to find one in France & around you look for "lost jobs"
& Lufthansa
& GLE (I worked for them - not as a trader. Their management said blockchain was the guarenteed future. Does it feel good watching others fail? Yes ^^)
& URW (France)
& DELGIA (Belgian stock up 250% in 2 days then went to zero)
& Every single stock that is ever trending on stocktwits that I didn't already mention
& Many many many more
& GME soon
I doubt any GME bagholder will come explain to me why these companies, 1 by 1, are different from GME :)
I am sure for 1000 shares that went to zero there is 1 or 2 that survived.
GME price is higher today than when it was making money. Surviving would mean staying around $20. Or less, entirely new business from ground up as I said.
Not everyone is a casino gambler, some people even despise gambling with a passion (🙋♂️).
Some people actually buy companies based on their fair value, and these people tend to have a lot of money.
And other people buy & sell for all sort of reason, for example if an employee gets a few dozen shares as bonus, and he thinks the price is very high, he is mor elikely to sell.
Linear chart:
Log chart:
Ending words
I have been trying to look more at stocks, expand the number of instruments I trade rather than look for mediocre setups in my comfort zone, and how much frustration and regret I am getting not being able to short GME... But nothing I can do about it.
GME is a pump and dump. It's going to zero. This is my paper trade.
Still some bagholders that bought at the top got angry and started insulting me, maybe they think they can cyber bully me into silence? Lol. Oh boy, here we go.
How I wish I could buy a put on GME here from Europe. But I can't, what I can do though is paper trade. If I could I'd buy a put expiring DEC 2021 with a strike price of 100.
The Gamestop story is similar to the Blockbuster story, it's always the same story all over again, history repeats itself but this time it's REALLY the same story, to the details.
Their model just is not working. And if they were going to magically change they would have gone it long ago.
I am not saying a hobo has better odds that GME management, don't worry about them I'm sure they can bounce back if they want to, with another project.
Simpliest solution is to use the US government+FED trick:
- Sell some shares, use all the money from the sales to keep the business running
- Keep your entire salary and company profits in your pocket
- Start talking to people are you
==> "Monetize" the shares to have a starting capital for a new business and use the people you know and trust and can rely on to be part of it
You can compare GME to Bitcoin & Tesla, that went way up, but not before going way down:
I would buy a put and target $10, I would not sell it before the price drops below 100 in any case.
I could add to it on the way down, give it another kick while it's down. Once the price gets to 10 bucks thought I'm not sure it's worth it.
Or maybe it goes like HMNY
& BLIA
& SEARS
& LHHM (kek)
& ENE
& RSH
& TOY (Toys R Us)
& Remington Arms Company, LLC (after 200 years damn)
& Vanity (private)
& MCDIF
& SSI (Stage Stores, Gordmans)
& Southeastern Grocers
& SNH (I bought at 9 cents or so because I think bigger fools will buy btw :p nah honestly they still have over 100k employees and billions in revenues...but the price did go down 100%)
& CHUC
& WM/WAMU (the comeback! oh wait no haha)
& Worldcom (funny one)
& INTE
& JCP
& PCG
& Chrysler LLC/Chrysler Group LLC/FCA US LLC/bought by the dutch
& HTZ
& (Chuck E Cheese)
& Diesel
& BONT
& Claire’s (bought by vultures at Elliott mngmt the guys that tried to seize a warhip from Argentina trust me it's not to save the business)
& 24 Hour Fitness
& PYX (a "new era of hemp products you just don't get it")
& XL
& RIDE
& SUNE
& DRYS (congratulations to those that bought at 2000 and held but to be fair those that bought "cheap" at 20 and held also lost everything)
& MNKD
& VRX (awww ticker is gone from tradingview good thing I saved some screenshots)
& CXRXF
& GEVO
& PVCT
& GBSN
& MGTI
& EBIO
& ANY
& NWBO
& What was that company where trading was halted and held at zero?
& LINE
& SDRL (Well I guess the gap got filled - 100% good job fomo buyer & diamond hands This chart wow 🤣)
& INSY
& ANTH
& NSE:DHFL
& NSE:JPPOWER
& PC Jeweller (very famous Indian scam)
& Monsanto
& Mory Group (thousands of lost jobs, 6 years later 1500 workers sue the company that bought the bag)
& LSE: TCG. If you want to find a dead company in the US you scan bagholding forums, if you want to find one in France & around you look for "lost jobs"
& Lufthansa
& GLE (I worked for them - not as a trader. Their management said blockchain was the guarenteed future. Does it feel good watching others fail? Yes ^^)
& URW (France)
& DELGIA (Belgian stock up 250% in 2 days then went to zero)
& Every single stock that is ever trending on stocktwits that I didn't already mention
& Many many many more
& GME soon
I doubt any GME bagholder will come explain to me why these companies, 1 by 1, are different from GME :)
I am sure for 1000 shares that went to zero there is 1 or 2 that survived.
GME price is higher today than when it was making money. Surviving would mean staying around $20. Or less, entirely new business from ground up as I said.
Not everyone is a casino gambler, some people even despise gambling with a passion (🙋♂️).
Some people actually buy companies based on their fair value, and these people tend to have a lot of money.
And other people buy & sell for all sort of reason, for example if an employee gets a few dozen shares as bonus, and he thinks the price is very high, he is mor elikely to sell.
Linear chart:
Log chart:
Ending words
I have been trying to look more at stocks, expand the number of instruments I trade rather than look for mediocre setups in my comfort zone, and how much frustration and regret I am getting not being able to short GME... But nothing I can do about it.
GME is a pump and dump. It's going to zero. This is my paper trade.
