The GameStop Reckoning has just begun.
History favors the bold. Stories are never written about the meek or the weak. No, history favors those who bleed and donate their flesh to follow their conviction.
Who here lost money in the 2017 Bitcoin bull run? I was newer to trading and brand new to crypto at the time. WIth my eyes full of stars and dollar signs, I loaded up my Bitmex account and when to town on an over leveraged long position. Within 12 hours, I’d been liquidated for the first of many times. Crypto was the bloodiest learning experience a novice trader could encounter and for that, I’m truly grateful.
GameStop is an interesting beast. If you don’t know the story of how we arrived where we are, you will not learn that here. I’m going to briefly discuss what I believe will happen and provide some light for newer traders. GameStop’s fundamentals changed significantly. From almost knocking on bankruptcy’s door in March to Ryan Cohen taking three seats on the board, closing down shops and Dr. Michael Burry himself taking a huge position, things have changed big time. The media refutes this though. They have the same info we do but are spinning a totally different tale.
Things to consider:
1) how many other stocks are being shilled and pumped as the next GameStop style short squeeze (silver anyone?!)
2) the media alleging that big players already closed their shorts. (Hi! Where is the volume showing this?)
3) very low volume on this move down compared to the explosion of volume that confirmed our recent move up.
4) very new accounts popping up on Reddit in a certain forum, some alleging the sky is falling in GME, others weaving tales to draw sympathy for those poor, poor hedge funds who’s feelings we hurt.
5) short interest date is incomplete, vague and downright misleading.
I believe we are seeing a small correction due to margin req’s through the roof for GME, robbinushood allowing investors to buy one share a piece (if you forgot, we are too stupid and poor to take risks in their opinion) and other brokerages limiting trading as well. This correction in conjunction with the paid for media FUD machine REEKS of what they did during the election, the early days of Bitcoin and really anything else that threatens the status quo.
New traders, do you want to be a part of history or would you rather have yet another missed opportunity to tell your friends and family about? History requires us to bleed. No tales are written about people who hid and waited for the storm to pass. Hold strong. The monthly candle is quite telling. I think we see a small pause and then a green ripper towards the riches in Valhalla.
Who here lost money in the 2017 Bitcoin bull run? I was newer to trading and brand new to crypto at the time. WIth my eyes full of stars and dollar signs, I loaded up my Bitmex account and when to town on an over leveraged long position. Within 12 hours, I’d been liquidated for the first of many times. Crypto was the bloodiest learning experience a novice trader could encounter and for that, I’m truly grateful.
GameStop is an interesting beast. If you don’t know the story of how we arrived where we are, you will not learn that here. I’m going to briefly discuss what I believe will happen and provide some light for newer traders. GameStop’s fundamentals changed significantly. From almost knocking on bankruptcy’s door in March to Ryan Cohen taking three seats on the board, closing down shops and Dr. Michael Burry himself taking a huge position, things have changed big time. The media refutes this though. They have the same info we do but are spinning a totally different tale.
Things to consider:
1) how many other stocks are being shilled and pumped as the next GameStop style short squeeze (silver anyone?!)
2) the media alleging that big players already closed their shorts. (Hi! Where is the volume showing this?)
3) very low volume on this move down compared to the explosion of volume that confirmed our recent move up.
4) very new accounts popping up on Reddit in a certain forum, some alleging the sky is falling in GME, others weaving tales to draw sympathy for those poor, poor hedge funds who’s feelings we hurt.
5) short interest date is incomplete, vague and downright misleading.
I believe we are seeing a small correction due to margin req’s through the roof for GME, robbinushood allowing investors to buy one share a piece (if you forgot, we are too stupid and poor to take risks in their opinion) and other brokerages limiting trading as well. This correction in conjunction with the paid for media FUD machine REEKS of what they did during the election, the early days of Bitcoin and really anything else that threatens the status quo.
New traders, do you want to be a part of history or would you rather have yet another missed opportunity to tell your friends and family about? History requires us to bleed. No tales are written about people who hid and waited for the storm to pass. Hold strong. The monthly candle is quite telling. I think we see a small pause and then a green ripper towards the riches in Valhalla.
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