Quote:
Originally Posted by sabotai
dola,
So I just had a good yell at myself about being greedy and to stop being stupid. I just dumped 7 more shares at $185. Now I'm roughly even (with a little bit extra) with 3 shares of pure profit in the bank.
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Man you got the paper hands bad
... do hat you want, if it gives you peace of mind to be at a net zero position & pure "profit" on what you're holding, that's awesome, but whether a squeeze happens or not I trust the near term DD.
- The short interest numbers may lie, but option chains are verifiable, and whether the option writers have hedged or still have to procure shares, it's 6 million already in the money from the next two weeks combined, and a million more if it gets above even $200. That's a lot of buying pressure on a stock with as small a float as GME has. Even a little further out April 16 also has a ton that were bought OTM that are now ITM. (EDIT - LoL someone just dropped $52 million on 19k $200 calls for this Friday
https://twitter.com/TripleBarrelCap/...796291/photo/1 )
- They're still shorting the shit out of it (like 60% each day are shorts!) and they can barely even suppress it, let alone gain enough traction for a red day, despite fairly low volume last week. Even the joke that is mainstream financial media is finding it hard to ignore it or go LoL reddit bro's right? and is letting some neutral pieces out there now, which will only increase the buying pressure as FOMO jumpers come back in. I'm not counting on a squeeze and I'm sure it's not 100% of the reason, but the fact the DTCC is rushing through rule changes to require more liquidity and collateral from option writers and market makers I'm sure isn't entirely a coincidence.
- Most importantly, why did it jump today so much? Because of a bland press release that basically told us nothing we don't already know. I'm not sure if Ryan Cohen will officially become CEO and be announced after the next board meeting, but they'll have positive momentum with him and probably very very good Q4 earnings they'll announce 3/25. (New PS/XBox releases always juice their earnings.) Once you get people to start accepting them as an e-commerce retailer instead of a brick & mortar one it once again will lead to increased buying pressure.
tl;dr I came for the squeeze, but I stayed for the DD. If a gamma type squeeze does occur in the interim and it gets to $400-$500, or it starts to behave like a normal stock in the $200 range I'll consider selling 1/4 to 1/2 my shares to get to a net zero cost basis or lock in a few thousand in gains, but right now the short term upside potential is huge & I don't think there's much downside risk in the next few weeks with all the known catalysts lined up so I'm not sweating any drops.