drewby4321

GameStop gained 100% today and was up another 100% after hours

NYSE:GME   GAMESTOP CORPORATION
There is a lot less short interest this time so don't expect this to last as long as the last frenzy.

1) WallStreetBets is back at it with Gamestop. Keep in mind they are a self-described very high risk community.

2) It will be very hard to enter and keep a position if you are not used to holding a very volatile stock.

3) There is an increase risk of loss. Stops need to be loose to stay in the trade so control position size to reduce possible loss.

4) If you tried to enter in the previous frenzy and lost money, now is a good opportunity to recoup some of the losses.
Comment: A couple clarifications:

1) Short interest may actually be high depending on perspective. I use MarketSmith which shows Short Interest of Daily Volume. In other words, how many days of average volume it take to clear the shorts. That was at 0.6. So shorts could be cleared within a single session.

2) I'm not suggesting that people who lost money the last time to go back into this stock to recoup. I meant to say that if you were holding with paper losses, then now is a chance to recoup some of that loss by selling.

Finally, I regretted not drawing the WSB guy on a chart last time. I love the character and wanted to take the chance now to make him chart art. :)
Website: https://www.drewby.com

Twitter: https://www.twitter.com/drewrobbins

All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.

Comments

Your chart art is some of the best! We've featured it in Editors' Picks. As your post says and the comments below - methodical thinking is the best approach. It's also okay to grab some popcorn and enjoy the show.
200 coins
+31 Reply
drewby4321 TradingView
@TradingView, thanks! Yes, the FOMO is strong on this one and its hard to not place a little bet. But I'm holding to my system, I like the money I have. :)
+10 Reply
Mhouston23 TradingView
@TradingView, You right, it's going to 1000$ this time
+19 Reply
Secmess TradingView
For anyone reading the comment, his point about "There is a lot less short interest this time" is totally wrong.
Various ETFs have their SI% jump by a lot when GME SI% drops -- the insitutions are moving their short position to conceal it.

It's honestly disappointing how such a basic mechanic is not known to this "analyst", and have his post featured just because of the art.
+3 Reply
drewby4321 Secmess
@Secmess, How is the short-squeeze on XRT working out for GME? I really wish you were right, because I would enjoy the bump in my MGNI position!

"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Reply
Secmess drewby4321
@drewby4321, "the short-squeeze on XRT" lol, another proof you have zero idea on what are you talking about.

Also, what's up with the quotes, am I in Instagram or something?
+2 Reply
drewby4321 Secmess
@Secmess, We are waiting for you to explain it.

The quote was not mine. Thus the quotes. Just like you quoted my text.
Reply
Secmess drewby4321
@drewby4321, I guess I can just let the current price explain what is going to come.
+1 Reply
drewby4321 Secmess
@Secmess, you came back! lol. Are you referring to the high, low or close?
Reply
Bismillah26 drewby4321
@drewby4321, haha,,,,"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”

I gotta remember this one, It's soo true though
Reply
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