Hi ya'll
I'm not a financial advisor nor is this financial advice. I'm just an ape that likes drawing with crayons.
That having been said, i believe that GME is on the verge of bullish reversal plainly based on chart technical analysis and patterns. As you see there's a nice ~1 month bullish wedge that is almost at it's end e.g breakout could be imminent. In addition to this, i've found a divergence point or a reversal point that i believe is where bullish reversal will occur. How i find these point is by using either flexible trendlines or just normal trendlines and compare their converging points with where bullish wedges end. If they are close enough together and there are other patterns to support them, then i consider them to be reversal points.
In the example in the screenshot you'll see there is 1 such convergence point based on the flexible trendlines & based on the ending point of the bullish wedge, you see that they are super close to each other. Based on this, i believe that bullish reversal is imminent.
I'm invested in GME for several hundred thousand dollars. Not revealing my position to prevent mining and hedging by the big boys or others.
Last Night
Last night ~50k GME shares and a few hundred thousand ETF shares were borrowed to short GME with. Source: gme.crazyawesomecompany.com/
It is in my opinion that last night's drop was a mix of the following:
What does the above mean?
Last night there was a single $637 MILLION order showing up in the books after hours. This was likely the NSCC having taken over someone's short/long positions since that entity failed to post their margin SLD. I think soon we're going to see a liquidation of these assets to cover that entity's short overly naked short position on GME. Last night GME's 10k report also showed that GME is likely headed for a short squeeze as it's been mentioned in the 10k report itself as legally required by law to do so if your stock is experiencing this type of volatility. Nothing special, but nothing to cough at either.
This first liquidation is likely the first one to occur in a series of liquidations. More are likely to occur as we go forward in time and failures to deliver increase as it slowly becomes harder and harder for failures to deliver to be hidden in SWAPS on other assets like ETFs or treasury bonds. The clock is ticking in my opinion and it's just a matter of time until whoever is on the hook for 200+ million short GME shares out of the 45 million available (not really available anymore lol) share trading pool... Once these 200 million shares (400% of the share float) start to get covered as some hedge fund positions are liquidated and forced bought in on market price by the NSCC more and more naked shorters are expected to get burned causing a cascade margin call by the NSCC due to the new DTCC rules that require the NSCC and others to margin call brokers and brokers of brokers ON THE SPOT INTRADAY and asking them for an extra SLD to prove their ability to function. Once this cascade starts, you can expect GME to skyrocket.
Until then it's all going to be fun and games between retail and these very ballsy big short position owners and their ever growing short positions. I bet you some of these 'clever' suits are just small firms and even retail people selling naked calls and shorts and just generally having naked positions not knowing that 250% of the entire share float is bought out. They are going to get horribly burned WHEN this blows up in their faces. Reminder, naked shorting by firms/institutions is illegal.
tldr: Buy, Hold. Be insane. Red is just a number. GME's price doesn't matter, it'll go up and down, enjoy it like a rollercoaster. Any price is a bargain right now... it really is. Once this blows up into a short squeeze into the multiple thousands, tens of thousands, or just generally an infinite short squeeze due to the 250% float overboughtness..... Yeah you're going to wish you were a part of it. I DON'T believe they will get out of this whole ordeal unscathed. This is history in the making.
I'm not a financial advisor nor is this financial advice. I'm just an ape that likes drawing with crayons.
That having been said, i believe that GME is on the verge of bullish reversal plainly based on chart technical analysis and patterns. As you see there's a nice ~1 month bullish wedge that is almost at it's end e.g breakout could be imminent. In addition to this, i've found a divergence point or a reversal point that i believe is where bullish reversal will occur. How i find these point is by using either flexible trendlines or just normal trendlines and compare their converging points with where bullish wedges end. If they are close enough together and there are other patterns to support them, then i consider them to be reversal points.
In the example in the screenshot you'll see there is 1 such convergence point based on the flexible trendlines & based on the ending point of the bullish wedge, you see that they are super close to each other. Based on this, i believe that bullish reversal is imminent.
I'm invested in GME for several hundred thousand dollars. Not revealing my position to prevent mining and hedging by the big boys or others.
Last Night
Last night ~50k GME shares and a few hundred thousand ETF shares were borrowed to short GME with. Source: gme.crazyawesomecompany.com/
It is in my opinion that last night's drop was a mix of the following:
- Fabricated by the hedge funds to created FUD / Fear Uncertainty and Doubt to shake people off GME.
- Some weak pathetic paperhands who sold as soon as they saw red.
- NSCC taking over some hedge fund's or other instution's positions due to the failure of one or more entities to provide their SLD (Supplementary Liquidity) when they were margin called after Friday's Quadruple Witching Day (T+2 settlement from Friday).
- Other unknown factors
What does the above mean?
Last night there was a single $637 MILLION order showing up in the books after hours. This was likely the NSCC having taken over someone's short/long positions since that entity failed to post their margin SLD. I think soon we're going to see a liquidation of these assets to cover that entity's short overly naked short position on GME. Last night GME's 10k report also showed that GME is likely headed for a short squeeze as it's been mentioned in the 10k report itself as legally required by law to do so if your stock is experiencing this type of volatility. Nothing special, but nothing to cough at either.
This first liquidation is likely the first one to occur in a series of liquidations. More are likely to occur as we go forward in time and failures to deliver increase as it slowly becomes harder and harder for failures to deliver to be hidden in SWAPS on other assets like ETFs or treasury bonds. The clock is ticking in my opinion and it's just a matter of time until whoever is on the hook for 200+ million short GME shares out of the 45 million available (not really available anymore lol) share trading pool... Once these 200 million shares (400% of the share float) start to get covered as some hedge fund positions are liquidated and forced bought in on market price by the NSCC more and more naked shorters are expected to get burned causing a cascade margin call by the NSCC due to the new DTCC rules that require the NSCC and others to margin call brokers and brokers of brokers ON THE SPOT INTRADAY and asking them for an extra SLD to prove their ability to function. Once this cascade starts, you can expect GME to skyrocket.
Until then it's all going to be fun and games between retail and these very ballsy big short position owners and their ever growing short positions. I bet you some of these 'clever' suits are just small firms and even retail people selling naked calls and shorts and just generally having naked positions not knowing that 250% of the entire share float is bought out. They are going to get horribly burned WHEN this blows up in their faces. Reminder, naked shorting by firms/institutions is illegal.
tldr: Buy, Hold. Be insane. Red is just a number. GME's price doesn't matter, it'll go up and down, enjoy it like a rollercoaster. Any price is a bargain right now... it really is. Once this blows up into a short squeeze into the multiple thousands, tens of thousands, or just generally an infinite short squeeze due to the 250% float overboughtness..... Yeah you're going to wish you were a part of it. I DON'T believe they will get out of this whole ordeal unscathed. This is history in the making.