Gamestop Reddit short squeeze

rainy

Kingfisher
I think this goes to $250-300 minimum and that's without covering the shorts and resulting squeeze. I think the squeeze takes us into the 4 digits. Placed an order for 50 more shares for this short term ride which I'll reinvest later. Simply borrowing from some of my dead stocks for this run.
 

eradicator

Peacock
Gold Member
I think this goes to $250-300 minimum and that's without covering the shorts and resulting squeeze. I think the squeeze takes us into the 4 digits. Placed an order for 50 more shares for this short term ride which I'll reinvest later. Simply borrowing from some of my dead stocks for this run.
It’s already at 290 so that’s not even a prediction. I’m not sure how high it goes? But props to the guys who got in early
 

C-Note

Hummingbird
Gold Member
AMC briefly hit $74 yesterday. Seems to me that shorting the stock would be a fairly attractive option right now, as it should be back to $10 within a couple of weeks. I wonder if the hedge funds are shorting it to try to cover their losses from the current squeeze?
 

rainy

Kingfisher
AMC briefly hit $74 yesterday. Seems to me that shorting the stock would be a fairly attractive option right now, as it should be back to $10 within a couple of weeks. I wonder if the hedge funds are shorting it to try to cover their losses from the current squeeze?
They'll try but borrowing shares to short is getting much tougher and more expensive.

We saw a coordinated attack at open by the MSM on AMC to short shares and the price dropped. Recovering now though.
 

rainy

Kingfisher
Huge sells offs on LVL2 by whales. Trying to hold this down. Retail is buying them up. Large buy blocks. Other retail investors getting shaken out due to FUD.

Volatile today.

Also a few million shares were borrowed by MM's today to short at 19%+. This still isn't the squeeze. It's the game before the squeeze and these guys just shorted even more at incredibly high rates. Holding until they cover.
 

FrancisK

Kingfisher
Gold Member
Bought and sold twice again today, I hope you guys are making your money off of this instead of buying into Reddit loser garbage. There are going to be profiteers and bag holders, there is no middle.
 

rainy

Kingfisher
I'm sure some retail panicked and sold. But this was as coordinated an attack as they come. AMC and GME charts are identical for this morning. Huge short attack at open. Collusion with CNBC and Wall St Journal too who printed lies first thing this morning.

Now we're back to $60. Imagine doing that and and we still finish green on the day. And now there's also a new wave of buyers who bought in the 40's. I want these MM's to get ruined.

E2-R_3yWQAAIWzJ
 

GodfatherPartTwo

Woodpecker
I'm sure some retail panicked and sold. But this was as coordinated an attack as they come. AMC and GME charts are identical for this morning. Huge short attack at open. Collusion with CNBC and Wall St Journal too who printed lies first thing this morning.

Now we're back to $60. Imagine doing that and and we still finish green on the day. And now there's also a new wave of buyers who bought in the 40's. I want these MM's to get ruined.

E2-R_3yWQAAIWzJ
Couldn't finish green on the day but GME didn't blast off in a straight line back in January either. It's clear that (((they))) are starting to batten down the hatches.
 

eradicator

Peacock
Gold Member
Couldn't finish green on the day but GME didn't blast off in a straight line back in January either. It's clear that (((they))) are starting to batten down the hatches.
So basically it will likely take months or years for the gmc/amc saga to play out.

and so long as you are buying call options on the dips and selling puts on the peaks you can profit. I bought yesterday at a strike of 50$ And it’s back at 50$ for now, I’ll try to sell on a peak and buy another dip, but I’m not a day trader, but like to make money
 

GodfatherPartTwo

Woodpecker
So basically it will likely take months or years for the gmc/amc saga to play out.

and so long as you are buying call options on the dips and selling puts on the peaks you can profit. I bought yesterday at a strike of 50$ And it’s back at 50$ for now, I’ll try to sell on a peak and buy another dip, but I’m not a day trader, but like to make money
I don't think the powers that be will let this go on for another year. I see it as now or never. The HF will keep digging their own hole but it's up to the retail investor to make sure they stay in it.
 

C-Note

Hummingbird
Gold Member
I don't think the powers that be will let this go on for another year. I see it as now or never. The HF will keep digging their own hole but it's up to the retail investor to make sure they stay in it.
No, there's no way that They will let this continue. They do not like not being able to control their environment. They're trying to figure out how to shut this down in a way that won't trigger the law of unintended consequences.

On Quora a couple of months ago, someone asked on one of the stock trading channels if it was right for Robin Hood to shut down trading on GME and one of the snooty brokers who answers questions replied "They should have read their terms of agreement as it expressly says that the app can shut down trading whenever it wants to." In a comment, I told her, "I know you don't like it that your insider friends lost some money, but it doesn't mean that the hoi polloi retail investors shouldn't have the same access to the markets that your friends do." She replied in a surprised and defensive tone, saying something like, "I'm not against retail investing and I don't support control of Wall Street by a connected group of elitists. I was just trying to say..."

I took from that and other reactions that the Street people were surprised at the pushback they got when they tried to assert control over the markets back in January or February and are now being more cautious about how they approach it. We should hear something from the Treasury Dept or SEC sometime later this year. If we don't I will be very surprised.
 

rainy

Kingfisher
Unless the SEC prevents short selling, squeezes will continue to happen. And GME and AMC aren't just shorted. They're being naked shorted with synthetic shares and dark pool shares. It's a new market dynamic that retail has figured this out and banded together. That's why I bought shares in April. Not because it's a meme. But because the technicals point to a massive short squeeze.

As an aside lots of call options must be exercised today. This will be interesting.
 

Ryoto

Pigeon
Would those of you with knowledge recommend buying AMC and Gamestop stock now or is it too late?

Also looking at Blackberry stock as an option.
 

C-Note

Hummingbird
Gold Member
Would those of you with knowledge recommend buying AMC and Gamestop stock now or is it too late?

Also looking at Blackberry stock as an option.
I think there will be a few more pushes in the future on GME stock, although the company isn't helping that much by issuing more public shares. Nevertheless, as opposed to most WSB meme stocks, that company actually has some future potential. The problem with Blackberry, AMC, and past meme stocks like Jaguar Health is that they are weak companies. Of course, I thought this push on AMC was going to fizzle quickly like the past two pushes and I sold my shares at $19 instead of waiting a few days and selling them at $70. So, take my opinion with a big grain of salt.

I probably won't be playing the GME game, however, as my investing style is too risk averse to be comfortable with it, unless the stock price drops to well under $100.
 

rainy

Kingfisher
Would those of you with knowledge recommend buying AMC and Gamestop stock now or is it too late?

Also looking at Blackberry stock as an option.
AMC is a bet. This thing is volatile. Don't put anything in you can't lose.

However, the shorts haven't covered yet. So everything which happened last week is unrelated to the short squeeze which has not yet happened. In order to stop the momentum when it was in the $60's the MM's borrowed millions at 19%+ interest to short even more. They did this with both AMC and GME and the charts were identical. Massive short attack. And despite their manipulation to end the week AMC built strong support around $50.

And while all the games were going on late last week Fintel still has AMC at a 99.9% short squeeze score. Because the run last week is unrelated. It's FOMO and people buying in in anticipation of the squeeze.


So if the squeeze does happen buying in at this level will return you a significant ROI. But are any of us 100% positive the squeeze will happen? No. There's the bet. I bought more last week but most of my position is at $9 so I can tolerate the risk. I've learned to be patient though.

Remember when GME hit high 300's in Jan, people bought in and it dropped to the 40's? Many sold for a heavy loss. It was in the basement for weeks. I just held. In March it was back in the 200's and I exited.

I wouldn't be surprised at all if there's more short attacks and AMC drops further. But I ultimately believe a squeeze will eventually happen and this goes well into the hundreds. It's one of the most heavily shorted stocks the market has ever seen, borrowing interest keeps climbing and the MM's have millions of synthetic and dark pool shares on top of it they've naked shorted. I wouldn't touch GME as I don't ever see it running up more than 20% from where it is now. And you'd really have to time your exit well. However if the AMC squeeze does happen it'll run 300-500% or more. That's just my opinion.

There's safer investment opportunities out there. Higher upside comes with higher risk.
 
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