| Author | Source |
|---|---|
| u/HomeDepotHank69 |
****I am not a financial advisor and this is not financial advice****
Good evening, apes. I hate my wife.
I come to you with just a tiny little update. This will be a very random update with my thoughts on the past few days.
FTD Cycle
Price-wise, the FTD cycle theory still seems plausible as we saw that nice increase on Monday. However, volume can only be described in one way:
I am hoping for a large increase in volume well over 10M sometime soon. This seems more plausible, and I know I already said that technicals don’t seem to apply to GME but I am a fucking simpleton and have no self-control, because of the fact that MACD has converged, RSI is still sitting neutral, TTM squeeze is ripe for some light blue candles, and IV is extremely low, which makes us ripe for a gamma squeeze. Also, I just wanna say that I absolutely LOVE all of the DD I see about elliot waves. I don’t really consider these technicals, I more consider them law. I am not an EW trader (though I’d like to be one day), so I can’t provide much DD on those. Nevertheless, I just wanted to say thank to everyone who does DD on EW because I absolutely love it, and it’s in our favor right now.
What is the FTD Cycle?
Both IV and volume are extremely low right now. Volume is disturbingly low. I am honestly shocked at how low it is. Our current setup says to me that volume just needs one thing:
So yeah, I’m just waiting on a little push. It’s also very strange to see so many of these days where we have minuscule volume and low price changes. With all of these low price changes, I think there’s a chance that we are still in that giant triangle and have yet to break out of it because it seems that our uptrend patterns are getting smaller and shorter and our downtrend patterns are getting smaller and shorter.
As I’ve said many times before, SPY and GME seem to have an inversely proportional relationship probably because funds have to sell off other assets when they cover GME. Well, thankfully SPY seems more oversold than ever right now (1 week chart):
Also absolutely hilarious that SPY might have resistance at 420.69. I hate to be a bear but this price is just unreasonable right now. Yeah, earnings have been good, but the market is pricing stocks like the recovery has already happened completely. I call BS.
Something interesting
You’ve all probably noticed that GME will spike up randomly in any given day. I’ve been noticing that a lot this week especially. Well, for the past two days, there have been these massive volume spikes around 1pm. It’s very strange because it’s the biggest volume candle for each of those days.
What does this mean? I’m not too sure, but it’s definitely strange. Could it be shorts covering SOME of their FTDs just so they don’t bleed out? I don’t know. Could it just be a coincidence? My answer to that is a resounding no. Why? First, I looked at boomer stocks like SPY, AAPL, MSFT, etc. to see if it was just a market-wide occurrence. Nope. But do you know who else it happened to today around 3pm? AM fucking C:
Now that’s just weird. Two stocks that we believe are abusively shorted both having their highest volume candles (green volume) in the second half of trading days around the same time while the rest of the market doesn’t? Seems very fishy to me. I’ve been looking at their charts and this happens a lot (as you’ve probably noticed). What I theorize is that this could be shorts covering the bare minimum to stay alive. I have no evidence to back that up but it’s just a theory.
A question
Apes, I usually come to you with knowledge, but now I am asking you FOR knowledge. So for the past few days I keep seeing OTC and OTCBB bids for GME that are above $10,000 (I saw one for 29,000). These aren’t just random, I’ve been seeing them for weeks and they come at random times throughout the day for like 10-20 minutes. Does anyone know what this could mean. Do the OTC markets represent dark pools and if so, what does this tell us? At first I thought it was just some dick face trying to fuck up the spread, but it just doesn’t make sense that I keep seeing this every day. Anyone have anything there?
FUD alleviation
Apes, I know that waiting sucks and it creates FUD in your mind. When the stock isn’t moving and going down, it’s very easy to become uncertain. I feel this too. However, anytime I catch myself thinking that it’s either A. not going to happen again or B. we’re wrong about short interest, I think of two things. 1 DFV doubled down even though he could retire in luxury right now. 2. GME’s chart is not behaving like a non-manipulated/shorted stock. I’ll echo what I’ve said in other DDs:
“It is not normal for a stock double in the span of a few hours on news of a CFO getting fired (2/24). It is not normal for a stock to open at above 250, go to 350 before noon and then fall down to 172 all before 2pm on absolutely no news (3/10). It is not normal for a stock to tank on earnings and then literally make back those losses the very next day on absolutely no news (3/25). It is not normal for a stock to double on news of the CFO being ousted but to go down 5% on news that the key player (Cohen) is being announced as the god of the board of directors. It is not normal for a stock to stay above $150 when every Wallstreet analyst says it’s not worth more than $50. It is not normal for a stock to have a negative beta. It is not normal for a stock to fluctuate in value by 10x over the span of a few months (up AND down) on very little fundamental news. It is not normal for multiple forums talking about the same stock to be infiltrated repeatedly by suspicious accounts trying to create FUD (i.e. shills really on exist on forums discussing GME, not regular retail investing forums like r/investing and r/stocks (which I am banned from hahahaha)). It is not normal for a stock to be universally hated by mainstream finance yet still be trading over 3x what they believe the fair value to be. It is not normal for a stock to get squeezed, fall back down, then almost regain its squeeze price on no fundamental news. I could go on and on.”
Stay strong, apes.
****I am not a financial advisor and this is not financial advice****