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GME

$GME & SPY: Things are not looking goodI previously mentioned a run for GME and BBBY on August 23. Whilst some other retail meme stocks like BBIG or NEGG may pump until the 23'rd, the rest of the market is showing big signs of a correction. Typically during a correction, the entire market follows suite. In rare occasions just a handful of stocks may squeeze during a correction and this may be one of those occasions, but it's more likely that all stocks will follow suite and correct. The timing of this correction is PERFECT to drag meme stocks down. The whole market showed a huge and unusual super powerful rally over the past 30 days which is indicative of de-rirsking or liquidation auctions in my opinion. RSI's have become overbought on the 1 year and 5 year timeframes (Daily and Weekly Candles). Such a fast rally indicates that there's a big "want" to bring everything down very very fast e.g a "correction". I'm out of my GME/BBBY bets with some profit as i believe that the next market correction/crash has started and i've bought SPY puts along with some puts on other companies (not meme stocks). The IV on GME and BBBY has been overpumped to stupid levels yesterday and it will take at least 2 months for this to cool down to tradeable levels and i think that's the whole point of why they pumped so much yesterday. Don't be caught bag holding or hodling because other bagholders who bought the top told you to do so otherwise you might be hurt. It took a month of rallying in everything EXCEPT meme stocks only for them to pump on the last few days before the market correction. GME and BBBY were the LAST to pump and i think this is intentional as the market is now dying. There's no fundamental reason for the market to rally this much other than to create another bigger correction to go much much lower and BBBY GME were the last to rally. GME and BBBY are going to "crash" starting from the top thanks to the whole market correcting. The run was supposed to be on the 23'rd. -TSLA is splitting on the 24'th. Big splits of this kind tend to drag the whole market down a LOT around their splits and these corrections last around 15 during the splits before the market rallies again. -AMC's Ape Coin which is in it's own a technical split is happening on the 22'nd. I believe this is all perfectly timed and GME's run is perfectly sandwiched between the 22'nd and 24'th splits for the reasons i mentioned above. Due to this i'd suggest not holding long calls on GME/BBBY or shares |(unless you're DRS'ing and don't care about the price because current prices don't matter if you're DRS'ing). If you're trading GME actively like me, i think this is the best course of action. The point is to be safe during trading as things are not looking good in general. We'll see if this month's run has been postponed to September 20 by using Net Capital rules. I think this is the case. What is uncertain about all of this is that maybe this is the kind of crash where the whole market crashes and some stocks mega squeeze. This might be that, but i don't know... So i'm personally out and i'm not hodling through such a big event. You do you. Not Financial Advice. I'm not a financial advisor.
AMEX:SPYShort
by leenixusu
12
$GME - August dump then runLooks like August might be a repeat of March 23 ish but possibly with a lot more upside even at these prices.. Not sharing too much details on this and why. Up to you if you're goiing to follow it. This is not financial advice. Also i can be wrong, but i don't think i am in this case. Warning: Read the text below very carefully. Do not skim it. It contains several very important warnings about this run up or down. What i estimate to be the August Opex into SLD settlement week: Aug 9-19 GME retraces down to $36, the whole market dumps, Vix pumps a little bit and MSM scares everyone with war and inflation and the next big crash etc, then suddenly around the 24'th of August everything goes green and suddenly war and inflation are over and markets pump. That's it in a nutshell. Now that i'm done dunking on hedge stock, back to the play. -Aug 9 to 19 the entire market dumps including GME and BBBY and the rest as it always does. -Things start to go a bit bullish at around the 19'th give or take a few days. The timing here is up to you. -The main run is expected to be at around the 24'th give or take a day or two. -The direction is unknown. I only know there is a big price event on this day. It may be big downs or big ups. -I would personally get pretty OTM options here at +25% spot price or more as this run looks like it might be the biggest one yet. (Remember, nothing is guaranteed in life, none of this may happen, maybe get some near the money calls instead and be safe before you lose money and start swearing???) If you're a degenerate, you basically know the drill. If you're new to all this, best close this page now and consider investing in an index or ETF as this is an extremely risky play as you're likely to lose money here. I'm serious. Reminder: -The market is likely to be down starting on the 9'th of August till around the 19'th of August give or take a day or two at most. -GME, BBBY and most other meme stocks like EXPR and all the 2021 runners like VUZI and FCEL and all those weird tickers that went nuts are likely to pump a bit, some will pump more some will pump extremely little. The ones that are expected to move the most are GME/BBBY and unfortunately AMC but for different reasons. -The actual price target is unknown and the numbers on the chart are a vague estimate based on swaps and resistances. Info: -All i can say is that if March was a x1, then August is a x27. The notional amounts traded in swaps is absolutely bonkers and indicates that this is either another March run or a January 28 run. -There's also the chance that everything has been derisked on the 8'th of August and there may be no run after Opex in August. This is extremely important. We may see action similar to November 23 where everything crashed as there are similarities with August and November. Be EXTREMELY careful. The data on this is still being reviewed, but preliminarily it looks very good. This may change without notice upon discovering something new. About the whole meme stock thing: Basically any meme stock you buy you're gonna be fine. GME, BBBY, AMC etc. I don't like AMC and i wouldn't suggest touching it as it's used as a hedge against the entire meme basket. Pumping it helps end the GME/BBBY and general meme pump quicker. AMC pumps because it's being bought to be posted as collateral to the OCC's stock loan hedging program where you can post another security part of a short pair like GME/AMC to hedge against the other part of the short pair. In this case, AMC is being bought whenever GME/BBBY go up and is delivered to the OCC's loan hedging program. This is why AMC pumps for no reason on other stock's dividends or splits or whatever, it's hedging, just not the kind anyone expected. Updates to this play: -I typically post updates to my trade and regarding the play itself almost live due to how important it is to keep everyone updated for this kind of trade. I will be posting comments and updates to this post when the play is live and in progress. You need to be dilligent in reading those notes and updates in time and acting accordingly and correctly reacting to them otherwise you may exit or enter a position late and lose or even make more money than expected. -I sometimes exit positions early. I've lost plenty of extra gains due to this. Others have ignored my advice are have for the most part made a lot more money than i have. Keep this in mind. A random post of mine on Reddit about this, old and not updated. It's a DD about this cycle. I've been following the GME/Meme cycles for over a year and a half now and have been reading regulations, market mechanics, gathering data from FOIAs or other sources like equity swaps, options, etc and this is the culmination of my research e.g the ability to predict certain dates where there will be movement up or down on meme stocks and generally the market as a whole. I cannot predict precise price targets nor price direction. I can predict dates on which events will happen that cause either upwards price movement or downwards price movement. I do not know which of the two it will be. www.reddit.com None of this is financial advice. I am not a financial advisor. This play is extremely risky.
NYSE:GMELong
by leenixusu
45
Game can't be stopped!GameStop Short Term We look to Buy at 39.54 (stop at 35.95) Preferred trade is to buy on dips. There is scope for mild selling at the open but losses should be limited. This stock has recently been in the news headlines. Further upside is expected although we prefer to set longs at our bespoke support levels at 40.00, resulting in improved risk/reward. Our profit targets will be 49.69 and 51.17 Resistance: 50.00 / 57.00 / 86.00 Support: 40.00 / 32.25 / 21.67 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:GMELong
by Saxo
The Bulls Are Back Baby! : PT 69NYSE:GME Hello, On the daily timeframe, there is a potential golden cross formation, and on top of that closing above the 200MA. The last time this happened was Sept 2020 and we all know what happened to this stock. The RSI is very telling -- Bullish -- as every time it crossed we saw at least a 153% increase (March 2022 RC Buy), 62.79% in May, 17% in June, and 42% in July. Today, it crossed again! I have priced in a minimum 20% move up and we'll probably retest the 0.786($43.45 - $173 pre-split). Aug 2nd was part of the T+69 theory and I have no idea what happened because I ate too many crayons. Fibs point to 69 good luck all! Not financial or sexual advice.
NYSE:GMELong
by SierrasTrades
GME Long Term Mega FlagWe have before us an ordeal of the most grievous kind. We have before us many many long months of struggle and of suffering. You ask, what is our goal? I can say: It is to wage war, by buying, holding, and then buying again with all our might and with all the strength that God can give us; to wage war against the shill and suits that bend us over everyday, never surpassed in the dark, lamentable catalog of human crime. That is our goal... GME has been the most frustrating, Challenging, and possibly the biggest trade I've ever been in. That being said my conviction has never been stronger going into the rest of the year (Especially the short term outlook)... NFT market place, Stock Split Dividend. I'm adding to my position every week because I can. Nothing but time costs me to hold my shares, we will be on Banana Planet sooner than you think. I currently expect a continuance of bullish price action going into the split dat of the 21st, then a slight dump back down into support right before we make our final ascent into the atmosphere on the journey to Banana Planet :Price target $420 (Post Split) $1700 (Pre Split) Good luck to all my Apes, and to the Shill Shorts...I hope you get out before we burn your positions to the ground.
NYSE:GMELong
by Captain_Cam
27
AMC hasn't looked this good in 8 months The CM Slingshot Indicator for AMC has finally turned green. The last time it was green was November 29, 2021 (about eight months ago). The stock also closed above the 200 MA , which hasn't happened since Dec 8, 2021 (also about 8 months ago). I'm looking for AMC to close above around $23-$25 to signal a breakout of the macro descending channel. Also looking to see increasing volume. The next few weeks should be interesting....Not financial advice.
NYSE:AMCLong
by learywj
Updated Analysis on $GME #GME - pop for tomorrow? #gamestopThis chart is so interesting. You can really get such a good idea from looking at the 3 month time frame, and how the lower moving averages have some catching up to do with the price. However, there are also several smaller time frame moving averages pushing tightly against the price, as well as (previously mentioned), a trend line breakthrough, a retouch, and a fibonacci at play. I'm wondering if we don't pump to the highest fibonacci extension around $67-$68, which would give a new trend line, and also lines with the bollinger band on the month. If we did this, it would make sense & line with the lowest extension possible on the overall inverse fibonacci pattern in play- which has the target price around $6 something. It'd obviously take several months (into early Jan 2024 it seems) for us to arrive at that lower fib extension. However, it makes sense that a pop upward would be needed first, in order to form that new trendline. It looks like maybe there is a tiny gap that needs to be filled tomorrow from today's close & then I just don't see HOW we could drop any further from there (on this week's candle)- especially given the weekly stoch rsi. It also is interesting to me that there seemed to be a real battle to make sure today's day candle closed green.
NYSE:GMELong
by UnknownUnicorn1935796
1
Channel Breakout Example Really solid example of how channel breakouts often retest resistance AFTER resistance has already been broken. I like to think of it as testing the buyers and supply/demand zone to see if resistance can now act as support which would confirm another leg up as we see in Uber. Good rule to follow is to not enter trades as soon as they breakout from a channel as the trend reversal is not confirmed by anything yet. we can see multiple channel breakouts where price did not continue rising once the channel was broken. Volume confirmation (increaising volume with increasing price) is also important when identifying true breakouts, nice highs when lower than average volume is generally a sign of price disparity defined as divergence.
NYSE:UBER
by chartxzy