You can see 5 waves has been completed with mass short squeezing and buying. Today gapped up and so far we have not been able to stay above the open.More than likely we will gap down over night and selling should start very soon. This is going to fall just as fast as it came up. Be careful.
Another one who needs to read up on what a short squeeze is and what happens when they're in it for well over 100%. 🤦♂️ smh
adriel.arrasmith
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@DaftMav, how long you been at this 6 months or a year? I’ve got in 10. Don’t think you can outsmart Wall Street consistently. You should read up on Elliott wave and investor psychology.
Mezmon2
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@Adriel.arrasmith, I was learning about investing back in 2003 and paper trading, started to get my feet wet for real just after the 2008 market crash. Rode the 2016-2017 crypto run up. so, if we're talking experience id say ive been doing this for about 13 years, 17 if you count the practice time. Through all these unstable times, I've learned to trade primarily based off of investor psychology. When you say something like "dont think you can outsmart wall street" and yet experienced wall street traders are who shorted a stock more 100% w/ naked calls ... seems a bit counterintuitive IMO. I dont think anyone really playing the short squeeze is trying to do so in any way that would be considered "consistently. Its a play on a once in a lifetime situation ... and the real squeeze has not started. As of this morning, we know w/ S3 data that the percent short is almost exactly the same as it was at its peak. Yeah, Elliot wave is done but dont discredit the fortitude of WSB (ie, investor psychology to push this into overdrive.
adriel.arrasmith
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@Mezmon2, I appreciate that. I don’t think that data is right though based on what I’ve seen. And I was wrong it did pop one more time, but this is it. These things repeat themselves over and over and the charts look very similar. Tlry, Bitcoin, SpCe, etc. GameStop is and was the greatest bubble of our life time. I love what these guys are doing from WSB by the way. Understandably though a lot of these people don’t really understand deeper market mechanics at play. Everyone who has or is going to buy game stop to new highs has.
Mezmon2
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@Adriel.arrasmith, Looks like we had one more pop and still held very strong. Now we'll potentially be going into Monday w/ a massive gamma squeeze in play. I'm telling ya...what has been going on here has been more psychological than anything else (hold at all cost) at the moment but will very soon give way to the squeeze dynamics. I've been lurking in WSB for the past year and the DD by a lot of the members is top notch. The general public thinks the squeeze potential is something the WSB just "decided on a week ago, they don't understand the depth to which the situation was broken down and scrutinized.The real squeeze hasn't started (IMO) and its only because institutions took the very risky stance of trying to double down instead of closing. We're now even seeing well known billionaires tweeting their support of the retail investor, both verbally and financially.
HabitualLineStepper_
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@Mezmon2, Noob here. What effect does reduced ability to trade during off hours have on retail traders? Seems likes shorts managed 50% and 70% moves on the downside, with an 80% recovery in between - overnight. Surely if this was institutional, it gives them further leverage, no?
Mezmon2
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@Habitual_Line_Stepper_, off hours trading really just tends to have lower volume than market hours and less liquidity. Though, I do have to say that GME is a bit unique at the moment. Pre market trading is usually where institutions do a lot of their moves. I think what we have been seeing with the large gap ups though is shorts covering. Now, If you're referring to the price action that occurred last night and this morning AHs, this was just blatant manipulation IMO. This mornings was obvious in that RH along with a few other brokerages halted buying GME just before market open. RH in particular has a massive GME following. This left the market wide open for the shorts/hedge funds to make some tricky moves. During the massive drop on market hours, what we basically saw was a short ladder attack. It was massively low volume but dropped us from 450 down to 109 at the lowest I believe. This is a coordinated where hedge funds buy and sell to one another at below the current ask to make it look like a huge sell off.
** All of this is my own personal speculation and is not intended as investment advice**