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re: So I bought some Gamestop(GME)

Posted on 1/29/21 at 11:29 am to
Posted by SLafourche07
Member since Feb 2008
10040 posts
Posted on 1/29/21 at 11:29 am to
quote:

after yesterday, GME is unbelievably steady. wtf is going on?




The market has finally corrected itself. This is now the fair price for GME.
Posted by Chad504boy
4 posts
Member since Feb 2005
176131 posts
Posted on 1/29/21 at 11:30 am to
quote:

. wtf is going on?



buying ability has been crippled.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 11:33 am to
quote:

Volumes has come down as the value per share has gone up since Friday. It’s completely logical.


1) Whole shares are still restricted, not just fractional.

2) The most important part, an unfathomable amount of retailers are holding under the impression that it will ignite the squeeze.
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/29/21 at 11:36 am to
quote:

That pathetically low volume pisses me off so bad.

Its actually a good thing at the worst. It shows that the diamond hands are winning, and not much selling going on. Owners of the shares don't acquire interest like the shorters do. The pressure is building on them, while we are all in a big circle holding each other's diamond hands.

This shows 75% short float

This shows 121% short float

This shows 249% short float

Squeeze is still on, imo. Also on the VW squeeze, there was 6 days of red, before blast off. Diamonds hands.

This post was edited on 1/29/21 at 11:39 am
Posted by slackster
Houston
Member since Mar 2009
91341 posts
Posted on 1/29/21 at 11:41 am to
quote:

Look, in a completely rational market, I’d fully agree and believe but short % and what happened yesterday contends your argument. Yes some covered but they aren’t completely out

If you honestly think they all covered and got out, what’s your justification fir why they are asking regulators to step in?

You also mentioned yesterday’s dip as evidence, completely ignoring it was a manipulated dip. It was an almost forced sell.


Yesterday retail couldn’t really buy. Manipulated or not, it removed that variable. If there was a short squeeze still happening, particularly with the 7+ day shorts, yesterday busted that thesis for me. Stock got to $480, shorts would have been down astronomically and needed to cover, yet there was no buying pressure from them, and retail investors were folding or else 57MM shares wouldn’t have traded, many of them down considerably. The mechanics of a squeeze require you to get the ball rolling and then force the shorts to cover. That was 1/13-1/26. The action since then has been mostly retail investors swapping the stock while new shorts initiate positions, IMO.

The buy and hold to the moon is what everyone says, but the volume says everyone is perfectly happy taking their 10x return and getting out.

^obviously can’t prove any of this, it’s just my belief based on the action the past week or so.
Posted by Stiles
Member since Sep 2017
3454 posts
Posted on 1/29/21 at 11:42 am to
Volume right now

AMC: 361million
GME: 27mill

Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14470 posts
Posted on 1/29/21 at 11:43 am to
Posted by Grateful Reb
Member since Apr 2011
8070 posts
Posted on 1/29/21 at 11:44 am to
Has this been discussed yet today?

GameStop short sellers are still not surrendering despite nearly $20 billion in losses

quote:

Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.

I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”


Posted by slackster
Houston
Member since Mar 2009
91341 posts
Posted on 1/29/21 at 11:44 am to
quote:

It’s going over your head then. Everyone is holding


If everyone is holding how will we see over 100% of the float change hands yet again today after it happened yesterday too?
Posted by slackster
Houston
Member since Mar 2009
91341 posts
Posted on 1/29/21 at 11:45 am to
quote:

Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock.


My belief.
Posted by slackster
Houston
Member since Mar 2009
91341 posts
Posted on 1/29/21 at 11:53 am to
quote:

Shorts are still short


People are still short Tesla, but it’s not the ones from 1000% ago.
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 11:53 am to
quote:

If everyone is holding how will we see over 100% of the float change hands yet again today after it happened yesterday too?



You can trade the same shares, but you know this.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40296 posts
Posted on 1/29/21 at 11:55 am to
With everything else selling off, do yall think they are preparing?
Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
14470 posts
Posted on 1/29/21 at 11:56 am to
quote:


With everything else selling off, do yall think they are preparing?

Yes.
Posted by slackster
Houston
Member since Mar 2009
91341 posts
Posted on 1/29/21 at 11:56 am to
quote:

You can trade the same shares, but you know this.


Of course, but I’m using it as a benchmark.

You don’t trade 100% of float or 400% of float like earlier this week unless lots of people are not holding. Plenty are though, no doubt.
Posted by RedHawk
Baton Rouge
Member since Aug 2007
9532 posts
Posted on 1/29/21 at 11:58 am to
quote:

AMC: 361million


But zero movement in the stock. As many sellers as there are buyers.
Posted by truthbetold
Member since Aug 2008
7637 posts
Posted on 1/29/21 at 12:00 pm to
Posted by xenythx
Member since Dec 2007
33245 posts
Posted on 1/29/21 at 12:01 pm to
The concern now is if a bit of this squeeze doesn't happen today, how many people are gonna sell before market close because they got bored and "heard" Friday was supposed to be fireworks?
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18371 posts
Posted on 1/29/21 at 12:01 pm to
quote:

You don’t trade 100% of float or 400% of float like earlier this week unless lots of people are not holding


I’m not talking about earlier this week. Mainly referencing today. Even yesterday when retailers weren’t allowed to buy, some major dips were bought up instantly.

Also you say the squeeze has been happening. Tell me how you differentiate between the squeeze while also recognizing the influx of retailers jumping on a wave. Squeezes require positions to be held
Posted by boomtapp
Houston, Tejas
Member since Nov 2007
748 posts
Posted on 1/29/21 at 12:04 pm to
quote:

The concern now is if a bit of this squeeze doesn't happen today, how many people are gonna sell before market close because they got bored and "heard" Friday was supposed to be fireworks?


Not going to lie - I'm tempted to get out before COB. Not necessarily because of no fireworks today, but more the uncertainty of what a 48 hour weekend brings, which is plenty of time for the SEC or other manipulation to occur.

Be strong hands, be strong...
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