Results of GME/AMC "Infinity Squeeze 2.0"
- Thread starter zghorner
- Start date
Why can't GME finally go back down and then WSB runs it up again?
it could run up again sure...but I doubt it will be retail that does it. there are more GME bagholders right now than at every grocery store across the world...the retail buying is exhausted. Who knows though man Maybe once the stimulus checks start pouring in it will pump again. All I can say is that I have never in my life seen a group of people so thirsty for bullish news...and so in denial of what their positions are telling them at this moment.
Of course it can, just like Madoff can start another hedge fund, as long as the government lets it happen.
GME was never a sound play. The silver stocks, however, some of them were good ideas we may see a return to that trade in the near future. Fortuna for example went to $12 Cdn even before the whole Reddit thing then dropped to levels much lower then it should have been at. All the "Reddit" thing did is recover the drop in days ( then falter again ). Any of the smarter traders in that sudden move will revisit it just on the down low I believe. I'm surprised Gold miners have so far escaped any positive interest in short term trading communities but perhaps a few +10% daily gains after earnings ( which are likely ) would attract such attention. Something like Kinross could double in price if sentiment changes. ( it's been dead money since August ). Nobody said markets were efficient; I don't understand Kinross's price unless there are operational issues that aren't public domain. Currently have no position but may buy before Wednesday.
Assuming good numbers and no significant Gold price drop, Kinross currently $9.28 Cdn could go up a $1 from here by Wednesday afternoon, could easily trend back to $13 Cdn. Current P/E 8.5 all in costs to produce Gold around $900.
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The only reason it went up in the first place is because wsb found out it was being shorted by a hedge fund. If not for that no one would know gme.
exactly...it was an obvious candidate for a squeeze...all others that synced with it were sympathy plays IMO
If you want to see denial so thick you can taste it go on reddit or facebook trading groups and read the comments...AMC/GME still being pumped mega hard these kids still think they are sitting on a royal flush.
I was looking at selling puts the other day when the volatility was through the roof. You could sell a four and a half straight put for over $2.. I ran into a guy who actually bought those puts and now they're trading below 40 cents I just figured I'd like to stay out of that mess so I didn't do anything... Did I talk to just started trading and he actually bought shares over $300.. what I told him this is a small price to pay a couple hundred dollars to learn something about trading to try to make him feel better