Study the Volkswagen short squeeze. 1) Huge spike. 2.) Mega dip. 3.) Cataclysmic pants annihilating spike as shorts began to all cover at the same time.
oh, and the Wolf has spoken
oh, and the Wolf has spoken
Misc Stock Market
- Thread starter ForsythSnow
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They’re calling today a “short ladder attack” which is short selling the stocks between themselves at lower and lower prices to drive down the price. We’ll see what happens tomorrow with GME. I think the dip continues. What I’m interested in is the covering frenzy. That is if it hasn’t happened yet.
Isn't that what took it to $500 in the first place?
The reason that VW spiked like it did is that Porsche bought 70% of the shares. Meant that shorts had to cover fast.
In this case, I think the original catalyst is gone, no matter what the short interest is, or where most of the shorts are (as nobody really knows for sure). Retail that wants to be in is in and I'm guessing that institutions have started the process of taking their ball and going back to playing the rest of the market.
Get another catalyst and maybe you restart the process though.
I'm guessing that GME drifts downward again and equities are up tomorrow (as it seems to be inverse lulz), but S&P futures have rammed into resistance apparently, so who knows. They probably try to consolidate for a try to break them tomorrow, and if not, the sell probably isn't over.
In this case, I think the original catalyst is gone, no matter what the short interest is, or where most of the shorts are (as nobody really knows for sure). Retail that wants to be in is in and I'm guessing that institutions have started the process of taking their ball and going back to playing the rest of the market.
Get another catalyst and maybe you restart the process though.
I'm guessing that GME drifts downward again and equities are up tomorrow (as it seems to be inverse lulz), but S&P futures have rammed into resistance apparently, so who knows. They probably try to consolidate for a try to break them tomorrow, and if not, the sell probably isn't over.
Dow, S&P, and Nasdaq futures all at 0.75%+ or higher...GME down to the 130s premarket....hi?
Instead of listening to people telling them to hold, they should have done like I did and unloaded after I made some money. If I had bought 1,000 shares at $2.10 a share, once it hit $400 a few days back, I would have cashed out.
I think what you had happen is the reddit stuff was used as cover for bigger players doing what they do. All of the rules tilt toward the big money. The little guy can do very little. Even when they band together, the big players change the rules. The GME thing was probably mostly WSB related, but that's probably about it.
Best thing the little guys can do with the silver market is buy physical inventory, while the big players push the prices down. That's the only thing that will eventually force a big time squeeze. And that is unlikely to happen.
DXY did contradict metals at least with this environment yesterday but...it also contradicted equities.
I'm guessing that the Fed probably repos soon. They actually haven't been doing "as" much since June, but now the dollar has finally woken up and if it's not beaten back soon it will hold back equities.
I'm guessing that the Fed probably repos soon. They actually haven't been doing "as" much since June, but now the dollar has finally woken up and if it's not beaten back soon it will hold back equities.
Thanks and seems very plausible
I closed my 500 of PSLV last night @ $10.15 for a small profit. But not worth the hassle IMO
Gamestop now below $100 as the overall market is relatively calm this morning.
It's like it would've been better for people to play this for profits instead of for a "movement".
It's like it would've been better for people to play this for profits instead of for a "movement".
I drew this support trend line for GME before bed last night and got the dip perfect. I mean within a dollar. If it stays above that bottom line it will continue to trade. 
I think it's safe to say the GME craze is officially over.
Anyone take my VXRT advice ? I’ve done 200% on it now! Went from 15 at open to 23 at close .
Closing in on 300% gain on my initial VXRT investment ! Let’s go, only regret is I didn’t accumulate what I did in MVIS for it. It would have paid off way more ! I held it for 2 months while it literally did nothing but bounce around from 6-8
PT for VXRT Is the dang moon. It’s closing in on a pill form vaccine for COVID among other viruses !