the top is in

Overnight said:
Nah, the Sunday open is never indicative of the following NY open with any reliability. There's too much slack. I will be calling for a major gap down though, because there is a black swan happening, and that is Reddit. I should know this, for I am long in the index. My word is my bond, and I am always right. We are looking at a March 2020 forming. This time, however, it's going to sting worse.
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I completely agree with you regarding a March or worse type sell-off because things are so terrible now with the economy, taxes, covid and other Black Swan type events.

Although I hope for a gap down since I'm in inverses, it wouldn't surprise me to see an up day Monday, choppy day Tuesday and then selling resume towards the end of next week. Exciting times!

https://www.elitetrader.com/et/posts/5310658/
 
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remoteControl said:
This week:

1) my brother in law (full time non-finance job) emails me to brag about making $15k in a day trading

2) my best friend (full time non-finance job) texts me he is going long silver because r/wsb is going to create a squeeze. he knows I "have been long for fundamental reasons, but he is just reading the terrain"

3) a chart of GME makes the front page of the New York Times.

This is what tops are made of. You heard it here first.
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long silver to create a short squeeze?
I think it is foolish.

Don't read news, chats... blindly.


sliver, gold ( and perhaps copper, eur, gbp, oil etc etc etc)
are rather inter correlated.

so those Reddit users have to long tons of things like
silver gold copper eur gbp oil etc etc etc.

Perhaps it is possible as there are billions of Reddit users.

They should look for low-value product and create a short
squeeze. Also they need to study market inter correlation.
 
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If everybody just HOLDS, there will be NO TOP until ALL of the short sellers are out!! There are still short interest in GME, about 57.83 million of them, that means there are still short sellers out there who haven't covered. The short interest is currently still at $11.21B. The top is not in yet. They want to tell you the top is in to scare you to sell the shares so the short sellers can win. Don't fall for that trick!! Hold and you will win!!! The reason why the WSB is winning is because everybody is banding together. United we stand, divided we fall!! True in every single situation including this one!!

https://twitter.com/x/status/1355194252674953219
 
JSOP said:
If everybody just HOLDS, there will be NO TOP until ALL of the short sellers are out!! There are still short interest in GME, about 57.83 million of them, that means there are still short sellers out there who haven't covered. The short interest is currently still at $11.21B. The top is not in yet. They want to tell you the top is in to scare you to sell the shares so the short sellers can win. Don't fall for that trick!! Hold and you will win!!! The reason why the WSB is winning is because everybody is banding together. United we stand, divided we fall!! True in every single situation including this one!!

https://twitter.com/x/status/1355194252674953219
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lol. more evidence.
 
all i'm saying...
Screen Shot 2021-01-31 at 7.20.45 AM.png
 
remoteControl said:
all i'm saying...View attachment 250406
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Citron clearly stated there are more opportunities trying to find multi-bagger longs then shorting stocks. I've felt the same way since March. Even at these lofty levels for some sectors, there are good multi-bagger opportunities in unloved sectors like energy and I'm sure the healthcare industries are a hodge podge of overvalued and undervalued stocks ( I haven't looked lately ). I still believe the entire mining sector could double within 2 years. I don't really care what indexes do at this point there is no certainty in either direction. IT seems rich but the big firms are raking in the money even more during Covid.

Masked by the big move in certain high growth areas was the fact many value plays have been underperforming for at least 3 years. Any corrective move is going to be tempered by renewed buying in those areas imo. I'm not sure on the cyclicals except that every mining bull cycle has been at least a few years not 6 months.
 
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