GME: Jan 2022 vs. Feb and May 2021 (revision)
This is just a revision of a previous idea. Same concept. There are certain similarities in chart patterns and behavior leading up to a runup in price. If you don't know what happened on 2/24/21, you should go look.
Meaningless thoughts:
One could say that these patterns also exist in other portions of the cycle - if you squint real hard, you can see this actually happens multiple times in a row each cycle, starting steeply down overall, and eventually leveling out into something like a double-bottom. That's the one thing that is not in a hodlers favor this cycle: no double bottom, yet.
but....(pun intended)
this is qualitatively the worst down cycle since January 2021. Depending on your perspective, one could argue no double bottom in February, either.......
I wouldn't be surprised if GME dropped to $40, at some point.
I wouldn't be surprised if it made a detour to $150 first.
I also wouldn't be surprised if it didn't.
I WOULD be surprised if it hit $40, and never came back. (not counting for splits, apocalypse, etc.)
Keep your finger on the trigger.
PEACE
Meaningless thoughts:
One could say that these patterns also exist in other portions of the cycle - if you squint real hard, you can see this actually happens multiple times in a row each cycle, starting steeply down overall, and eventually leveling out into something like a double-bottom. That's the one thing that is not in a hodlers favor this cycle: no double bottom, yet.
but....(pun intended)
this is qualitatively the worst down cycle since January 2021. Depending on your perspective, one could argue no double bottom in February, either.......
I wouldn't be surprised if GME dropped to $40, at some point.
I wouldn't be surprised if it made a detour to $150 first.
I also wouldn't be surprised if it didn't.
I WOULD be surprised if it hit $40, and never came back. (not counting for splits, apocalypse, etc.)
Keep your finger on the trigger.
PEACE
Note
Sorry. I keep turning off the indicators via double-clicking, but only recently realized it brings them back when you publish an Idea. I'm too lazy... I mean, uh, busy - to fix it now. Feel free to bring up those charts on your own and compare the dynamics in those timeframes.Note
I've been hearing the phrase "dead cat bounce" a lot lately. Got me thinking about physics and bio.The bounce of the dead cat, I imagine, is dependent upon its progress in stages of rigor mortis.
If said dead cat is not observed to be dead, but it's life-state is determined by a system governed by quantum mechanics, it will exist in a superposition of living- and dead-states, and cannot be said to be dead until it is observed to be so.
If said dead cat hits the ground at relativistic velocity, or worse, acceleration, thereby existing in a non-inertial frame, what the heck would happen then?
Actually, I think XKCD covered something like this in their first "what if?" post.
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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.