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Gamestop

GME Seeing Heavy Support, Will we see a Retest of 300+?After a near 50% crash over just 5 days, GameStop (GME) is seeing heavy support at the 21 day EMA, and we're back at a 222 handle. My play here would be to exclusively short GME when we see the upper band of the flag tested near 300+. But, to be honest, with risk so incredibly sporadic, and flows (and price) essentially blurred by MM and Fed manipulation, I'm staying away from GME until I see another massive rally. Then my plan would be to short back to sub 250's...
NYSE:GME
by Hedge_Of_The_World
8
$GME - Support TimeAnd again the shorter whale has used 1 million XRT shares and 100k to dump on GME longs. Doesn't matter. Trend: -Check out the trendlines and see the obvious support at the red line. -Check the resistance at the top blue line. Where are we going next? That's right, $350 is the new bottom, ~$600 could be the new range. New Range: Going into the new $350-600 range has implications of it's own though, this is the area the hedgies will feel the most pain. We've seen this from their attempt to unpin the price from $350 last week (close to getting margin called) and their further attempt this week with the attack today on the 15'th to further unpin the price from $260. The first unpinning must have been a 100% attack. The second unpinning may have been a friendly whale (or not) putting us in the oversold RSI area and giving reddit apes their much wanted juicy dip (Not that they'd need a dip to buy GME) especially with their stimmy check arriving in 2 days. It's estimated that ~3 billion worth of stimulus money will be going into GME and you can bet the other side of the trade is doing their damn best in both legal and illegal ways to make people think that their stimulus has no effect. HODL Don't be fooled by cheap HF tactics. If you're buying GME, you're not buying a normal stock. Adding a stop loss is a guaranteed way to get burned with the wild "volatility" swings (really just HF doing very illegal stuff because retail doesn't just all dump 10 mil shares on the exact same 1 minute on the 10'th of March) GME will swing wildly up and down. Don't buy it if you expect only ups and can't handle 50% loss or can't buy the dips. Don't try and swing trade GME, you'll get burned. If you're ready to make big bucks with GME, the only strat is to buy, hold and buy the dips. Get ready to be shaken by the insane HF tactics, Fear Uncertainty and Doubt (FUD) being spready by all media like Yahoo Finance, Barrons, Market Watch, CNBC, E-Toro Social and tons of other places. Don't ingest media regarding GME from normal news outlets as they're all blatantly lying and misreporting on the truth. I suggest visiting: www.reddit.com This is where real research is being done.
NYSE:GMELong
by leenixusu
6
Going bananasAMC isn't getting as much institutional attention, and I think it's going to make a lot of people rich. My prediction is a pullback at around 18 to 22, and then it'll really blow. Similar to GME, there will be some dirty tricks to short ETFs that hold AMC shares, dark pool fuckery, all the stuff we've seen them do with GME already (and continue to). They can't do anything about the shares that retail investors refuse to sell, however. That's the word around the campfire and there just isn't a solution for that. If people buy and hold the people shorting eventually lose and have to buy in.
NYSE:AMCLong
by Incogniteaux
6
Gamestop Reckoning Part 1. VolumeAs the community of traders reckons with many a crazed new-comer and their love of gamestop GME and AMC we have to be glad that people are being more and more interested in trading. However, for many of us, trading isn't to make a statement: it isn't to make a point, to stick it to someone or to prove how resolute you are. For me at least, trading is the end result of an exciting process of creative research, imaginative planning and positioning, using algorithms that I've written to try to get a well-timed entry, and the satisfaction of not worrying about each pricepoint thereafter -- knowing that I like the stock because of the sub-industry position in our future as a society I like the stock because of the particular company's financials relative to any similar sub-industry member I feel that management, both based on metrics and intuition from listening to the researchers, COO, CEO, CTOs at the company actually believe in what they are doing. I feel that the timing is right from a technical perspective, relative to events, from an industry-cyclic standpoint, and broader market threats. Thus, in summary, my "advice" to anyone would be: buy a stock because you find it compelling, you can imagine what they do 5 years from now and its more than what they do now, you know the company is healthy, there aren't many threats, and you wouldn't be upset if it lost 10% because you are confident in its future. . If you feel this way about GME, then that's great. But its unlikely that you will make it through the above points without a bit of heartburn -- especially given the following: EARNINGS COME NEXT WEEK . This is a time to ask yourself the following question: what is a fair price? Did 100% gain exceed your fair price? How about 500%? I'll leave that to you. Today lets look at GME's Volume using the OBV Correlation Indicator. The OBV Correlation Indicator can be set to correlate with any reference. I've chosen QQQ Secondarily the direction of chart stock's OBV is encoded with color: So if the histogram is negative AND red this means the correlation is negative and the obv direction is downward for GME. Lastly price correlation is encoded with a line, and price direction with color. Thus a negative red line means the price directions are also anti-correlated and price is downward. In the case of GameStop we see the natural pre-earnings pattern. A lower price correlation than usual to the broader market A lower volume correlation than usual to the broader market. But we see something else here. We see accelerating negative correlation in Obv of GME and the index as well as obv oscillator decreasing at an increasing rate. This is all one moment in time. However we have to remember earnings are about rectification: rectifying the price with perception, rectifying expectation with guidance, and also rectifying expectation with position --- i.e., a time to take profits. Ask yourself this: Do you see whatever will be said by management as being something to sustain a 1,000% increase in price? Do you imagine a buyout would be offered at 1,000% its price at last earnings? This week: Watch the relative volumes, watch the decoupling of volume and price using this indicator (OBV correlation indicator), and if you are holding GME, consider looking like a genius and selling now.
NYSE:GMEShort
by BradfordFournier
8