DrStool Posted January 29, 2021 Report Share Posted January 29, 2021 I'm giving Jimbo, our new chief splainer, the lead again. Jimbo, take it away! 6 hours ago, Jimbo said: THE GAMESTOP GAME HAS BEEN STOPPED.....THE REVERSE HOTEL CALIFORNIA As I predicted trading in the most shorted stocks restricted. But not entirely suspended. No....rather trading has been "Slanted". i.e. the Redditers can only sell but they cannot buy!!!!!!!!! (A sort of reverse hotel California - in the song you can check in but never leave...well Redditors can leave (sell the stock) but they can never check in (buy the stock)). So if they cannot buy then who is on the other side of the trade when they sell, who are the buyers?????? Who is in the "Hotel California" position????????? Answer (drum roll please): The long short hedge funds who need to buy back the stock to close out their underwater short positions. The rules of the game have been flipped 180 degrees so that the Redditers no longer occupy the privileged "Buy" position, the long short funds do!!! A beautiful example of the current wall street power dynamic at work. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Today's Non Chart of the Day Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 When was the last time you saw a W pattern evolve into an inverted V? Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Non Chart of the Day 2, GME 30 minute bars at 4:10 AM ET. Link to comment Share on other sites More sharing options...
aussiebear Posted January 29, 2021 Report Share Posted January 29, 2021 Funny thing is we have a local GME, a junior explorer .. took off like a rocket temporarily when the newbies heard the news of US GME and didn't read the fine print .. went into a trading halt and then the selling set in 😶 Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 I bought some SILJ (junior silver miners ETF) yesterday. Sold it about a half hour before the close. I'm looking at another possible entry and exit today. I like the 3 minute bars on this one. Currently on the downside. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 I held two shorts and one long overnight. We'll see how that goes. Link to comment Share on other sites More sharing options...
aussiebear Posted January 29, 2021 Report Share Posted January 29, 2021 It was another outrageous week for me: turned over $7k buying and selling, slowly increasing my portfolio by taking back a portion of capital on the winners and using it to take a stake in others. Jimi, was that you who had shares in 100 small companies on the last big run? And paid for your house with the proceeds? Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Did you mean Jimbo? Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Hourly pattern distorted as hell, but the shape is bullish. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 2 hours ago, DrStool said: I bought some SILJ (junior silver miners ETF) yesterday. Sold it about a half hour before the close. I'm looking at another possible entry and exit today. I like the 3 minute bars on this one. Currently on the downside. So much for that. Doesn't look like they'll let me back in. Gap breakout through 15.50 area. Link to comment Share on other sites More sharing options...
aussiebear Posted January 29, 2021 Report Share Posted January 29, 2021 1 hour ago, DrStool said: Did you mean Jimbo? Pretty sure it was Jimi .. had a quick look through the archive but couldn't find his post. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 OK. Thought it something recent. Mea culpa. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Whoa. Link to comment Share on other sites More sharing options...
DrStool Posted January 29, 2021 Author Report Share Posted January 29, 2021 Coincided with J&J vaccine news/ Only 66% effective in trials. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.