Game Stop [GME] - 7/15/21 - It's going DOWN.
Here's my analysis on GME. It's been weakening for a month and we just got a death cross. Not a good look. Headed down for the foreseeable future. Must hold at Support #1. If it can hold, that's a good sign. If it breaks below that, it's gonna be a LONG summer. If you're still holding at that point, I'd probably just HODL and move on to other stocks and wait until the next time it pumps. In my opinion, this is a very RISKY asset. It's a pump and dump. My approach to trading this would be to enter when it creates a floor... and then sell for profit when it gets pumped. Rinse and repeat until this stock no longer is being pumped and dumped and they move onto the next one.
Not financial advice, but just my thoughts after observing GME over this past year and hearing all the rumors and theories out there. The idea of a MOASS is keeping investors from selling when it gets pumped and even has investors buying HIGH. This can be a recipe for disaster. From my observation of these meme stocks, this is a risky game here, especially for new investors/traders. Don't worry about facing off with the "hedgies". That's likely to be a losing battle and that's not worth the headaches. The way I'd approach it is to get in at a low price when it drops... then sell after it pumps and take my money to the bank. Rinse and repeat until it's no longer being pumped and dumped. The reason we trade/invest is to make money. Gains are not guaranteed. We can't fall in love with a stock and we can't fall in love with an idea. We have to take profits when we see profits. In the end I could be wrong and the MOASS could be coming but I wouldn't bet my life savings on it. Maybe grab a couple of lottery tickets at the most. Just my 2 cents.
Not financial advice, but just my thoughts after observing GME over this past year and hearing all the rumors and theories out there. The idea of a MOASS is keeping investors from selling when it gets pumped and even has investors buying HIGH. This can be a recipe for disaster. From my observation of these meme stocks, this is a risky game here, especially for new investors/traders. Don't worry about facing off with the "hedgies". That's likely to be a losing battle and that's not worth the headaches. The way I'd approach it is to get in at a low price when it drops... then sell after it pumps and take my money to the bank. Rinse and repeat until it's no longer being pumped and dumped. The reason we trade/invest is to make money. Gains are not guaranteed. We can't fall in love with a stock and we can't fall in love with an idea. We have to take profits when we see profits. In the end I could be wrong and the MOASS could be coming but I wouldn't bet my life savings on it. Maybe grab a couple of lottery tickets at the most. Just my 2 cents.