Gme Peaked at 350 last hour 270 now , may go higher as the group chastised any who sell and book profits lol
market spooked this am , vix spike , SP 500 falling To 3815 which is a support level FB & MSFT had beat on earnings
The odd thing about GME ..is that usually heavily shorted stocks That rise ..see less shorts .)as shorts are forced to cover to avoid potentially infinite losses (as stock rises) ...well with GME As this stock rose from 15 to 60 on Friday and 125-150 Monday am ..more and more huge Wall Street hedge funds and millionaires piled Into NEW massive short positions ..believing this run up had to be over ..usually the winners who bought the stock would sell and book profits (but not so much with Wall Street bets) so selling was minimized and new shorts were maximized as WSB kept bidding up the stock in huge quantities and using massive call options ..the amount of NEW shorts left to Cover can take this stock over 500 if WSB doesn’t fold in morning (I.e book profits and try to sell high . I see them doing this end of week as long as short positions gets much lower
Just a update that Pfizer said they will be able to deliver a amazing 200 Million doses by end of May (100 million when you consider) the 2 shots ) wow that’s ahead of schedule
The money is mind boggling
I mean 2 weeks ago GTE was trading around 20$ and if you wanted call options expiring 1/29 with a strike price of 60$ it would have cost you like .30 or 30$ per lot . NOW that same 30$ option with 100 strike price is worth 10,000$ Or so (as GME is at 225 )
Some of those people bought hundreds of those
I am a little concerned about this snowballing into something more broadly destabilizing but not terribly so (Currently) ..would make a nice black swan-but I would guess we will see a pull back at SP around 3920 if not sooner that may cut the speculative legs out.from WSBets(and whoever piles on) ..*may
BB and BBBY , AMC went for a ride as well after hours
It seems like this group may contribute to some broad market instability soon , bc really ..what is their end game and they are sort of undermining some may say (illuminating) a sort of broken mechanism regarding pricing ..which is the basis of the entire market..but the thing is people are jumping on to this and it’s gaining steam as long as they are successful
A brief rug pull might be needed by end of week
193 after hours
The WSB crew has a disdain for Wall Street and the way they have been bailed out and deemed too big to fail, It’s sort of a vote against “biz as usual of the 1% always making out “ they want to bring the casino down and profit along the way if they can . Sort of watching in awe , and hoping they don’t cause some sort of contagion
NFL giving away 7500 SB tickets to vaccinated Health care workers
14,500 additional tickets are being sold
So there will be 22K in attendance or ..if that makes folks “jumpy” 28% of usual attendance
GTE today lol Went from 65 to 159 At 1030 then we’ll the market had a mini rug pull
at 1030 am there was a nice rug pull in FX and SPX that gutted speculation . Was fast . Raises my eyebrow .Would be a nice way to create margin calls and send WSB’s capital moving ability into something less. If not ,Something Is going to have to give somehow ...I mean
A stock going from 15 to 150 in 2 months on no real news and 65 to 150 in a day