DrStool 254 Posted February 2 Report Share Posted February 2 This is my 30 minute bar chart of GME this morning around 5 AM ET, for my technical analysis take. I put it on a semi log scale because I want you to see that while this looks like a top, and the price has come down from 500 to 171, two longer moving averages are still trending upward. The problem for HODLers is that the first MA is at 117, and the second is at 57. Margin accounts not already wiped out overnight will be wiped out well before the decline reaches these trend MAs. The other problem for later buyers is that resistance is now clustered around the 280s, so anybody who paid more has little hope of recovery. As far as those who bought premium bloated calls above 280, kiss that money goodbye. Even above 200 the premium decay will kill unless the rebound rally, when it comes, blows through that 280 area. It will be interesting. As for the mock it, yesterday I reported a 2-3 day cycle projection of 3800. A little later I said na ga da. Well guess what! Ga da! The 5 day cycle projection is currently 3835. At least. Here's the big picture: Last Week Won’t Lead to a Crash – Yet 2 - TECHNICAL TRADER JANUARY 31, 2021 There were lots of sell signals last week, but this isn’t the big one. Yet. We just need to be prepared for it. Technical Trader subscribers click here to download the report. Not a subscriber? Follow Lee’s weekly swing trade chart picks with Lee Adler’s Technical Trader, risk free for 90 days! These reports are for informational purposes, aimed at a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. Bloomberg US Treasury (BUST) Channel Sends Bullish Signal 1 - LIQUIDITY TRADER JANUARY 31, 2021 In the mid month QE update, I concluded the intro summary with this warning: Link to post Share on other sites
Last Week Won’t Lead to a Crash – Yet 2 - TECHNICAL TRADER JANUARY 31, 2021 There were lots of sell signals last week, but this isn’t the big one. Yet. We just need to be prepared for it. Technical Trader subscribers click here to download the report. Not a subscriber? Follow Lee’s weekly swing trade chart picks with Lee Adler’s Technical Trader, risk free for 90 days! These reports are for informational purposes, aimed at a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.
Bloomberg US Treasury (BUST) Channel Sends Bullish Signal 1 - LIQUIDITY TRADER JANUARY 31, 2021 In the mid month QE update, I concluded the intro summary with this warning:
DrStool 254 Posted February 2 Author Report Share Posted February 2 Here's Stock Proctology Proctology Perfesser Jimbo's take from Down Under last night. 10 hours ago, Jimbo said: A QE ENVIRONMENT IS A PARADISE FOR SPECULATORS As I have stated before a QE print environment creates a hothouse environment for speculators. Its great for speculators....not so much for investors. No good for short sellers. In this environment the most shorted stocks will find it easy to raise capital. i.e. the companies that lose the most capital receive the most capital. A sort of capital destruction situation. Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 Interesting data from the Bloomberg evening newsletter last night. Quote The fallout from last week’s short-squeeze madness continued on Monday. Robinhood Markets’ biggest backers kept on plowing billions of dollars into the beleaguered online brokerage. The cash infusions came as the trading app grappled with outraged customers and heightened regulatory scrutiny following its reaction to a day-trader assault on shorts of a certain video-game retailer. After absorbing a $20 billion hit, GameStop bears look like they’re starting to cover their positions as the company’s stock plunged 34%. Short interest in GameStop plummeted to 39% of free-floating shares from 114% in mid-January Link to post Share on other sites
Jimbo 25 Posted February 2 Report Share Posted February 2 THE GAME STOP GAME IS ALMOST OVER As the shorts cover the short squeeze melts away. Smart money has already sold out and moved onto silver. Link to post Share on other sites
itiswhatitis 1 Posted February 2 Report Share Posted February 2 Will all the shenanigans of GME, AMC, silver, etc. impact short sellers so the next time there is a big broad market sell off the shorts will not be there to cover? Making a crash, wipeout more likely? Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 Yes Link to post Share on other sites
MisFit Kid 46 Posted February 2 Report Share Posted February 2 Turn on those machines.....Mortimer......... Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 5 day cycle projection now 3865. Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 Loading up inventory for 2:30 turn time. Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 3 hours ago, DrStool said: 5 day cycle projection now 3865. Error. Should have been 3855. Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 Sure did get quiet out there, didn't it? Link to post Share on other sites
DrStool 254 Posted February 2 Author Report Share Posted February 2 Presented without comment for your listening pleasure. Link to post Share on other sites
SiP 41 Posted February 2 Report Share Posted February 2 markets are jokes. Link to post Share on other sites
SiP 41 Posted February 2 Report Share Posted February 2 https://www.youtube.com/watch?v=-DT7bX-B1Mg Link to post Share on other sites
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