Some people have been worried about
Gamestop correlates strongly with inverse VIX. Correlation broke on Oct 31st 2022 for some reason and restored Jan 6th 2023.I believe we may be playing out the Vix movement from Oct 31st onwards delayed. VIX has gone down since then so we should go up.Vix has kept its trend and should go lower today and Gme should pop today. I believe we may be playing out delayed price action from when correlation broke (labeled with a 4) Would like to see a 10% up day and to break 24 today. Other meme stocks have rebounded to the price level they were at before they got shorted down. I expect gme to eventually get back to $25-$27. Depending on optiion interest that could cause a large run up past that. Also, ftd's have started on gme again stocksera.pythonanywhere.com/ticker/failure_to_deliver/?quote=gme and are due in febuary further helping gme. all in all, it's been a rough several months, but everything is looking really good for a run on gme soon.
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noticed on the gme monthly that our recent peaks have been 3 trading days apart. so I hope to go up today and to make a new peak ($24) by eod tomorrow.Note
Well yesterday we did indeed make a new peak in the $24 range. I am very excited. GME and VIX are still following the same pattern, so I expect vix to make a new low and gme to go down today and early monday and make a new high in the $25 range Tuesday. I hope that at that price hedging of the option chain will cause gme to rip. Will do more research over the weekend but I think gme has a big run next week and I think it will start Tuesday.Note
I will be posting a new idea during the weekend after some research but gme and vix are still doing what I want them to. If crypto moons this weekend that's a good sign.Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.