01/29/2021 Live Update

[Cobra]

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Double bottom or not, wait and see.

[Cobra]

The members only update starts here: http://www.cobrasmarketview.com/2021/01 ... ay-update/

[JFR]

ES daily. Huge down bar on Wednesday. A very active doji yesterday. An inside bar today. Quiet after the fireworks? We will see about that. We seem to be in a time of chaos and anarchy.

[BullBear52x]

Mixed signal from yesterday, daily buy the dip triggered so bears need to see LL or up we go. Inside day will have to wait what will be the play here.

short term swing 5 DMA rejection was clear with over sold. this too might bring in a dip buyers. conflict signal at the cross road.

[JFR]

GME opens gap up.

[JFR]

I have mixed feelings about the GME et al market games.

I do like to see fair play between the giants and the retailers. Good luck with that.

But it seems to me the retailers in this case were kind of out for a revenge of sorts, to stick it to the hedge funds that were short GME. That is kind of dumb. Try to make money, not try to get a kind of revenge. And then the retailers put their own money at risk, when RobinHood, facing a liquidity issue, restricted orders. D'oh.

I like the fact that RobinHood has made the markets more accessible to retail. But young retailers have some growing pains to undertake, if they want to have some long term success in playing the markets. They pumped up the stock, like a pump and dump, so they were acting in just as bad faith as some hedge funds.

Just imo. Not up in arms. Just observing.

There are many sides to the issue.

[Al_Dente]

Today before the open:
zerohedge: It was only a matter of time before the SEC stepped in to "protect" investors from making money and ramming Wall Street's own strategies up its behind, and moments ago the world's most useless regulator published a statement in response to the short squeeze mania that has gripped markets.
The Commission said it will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities. Translation: any extreme shorts that hurt the hedge funds that are our close friends will likely soon be banned.
Here is the full statement, which is hilarious because after years of Wall Street selling worthless, massively overvalued IPOs to retail investors which always end up losing money when the bubble burst, is now so closely focused on the reverse situation, the one where Wall Street ends up being the patsy.
https://www.sec.gov/news/public-stateme ... 2021-01-29

[BullBear52x]

I have mixed feelings about the GME et al market games.

I do like to see fair play between the giants and the retailers. Good luck with that.

But it seems to me the retailers in this case were kind of out for a revenge of sorts, to stick it to the hedge funds that were short GME. That is kind of dumb. Try to make money, not try to get a kind of revenge. And then the retailers put their own money at risk, when RobinHood, facing a liquidity issue, restricted orders. D'oh.

I like the fact that RobinHood has made the markets more accessible to retail. But young retailers have some growing pains to undertake, if they want to have some long term success in playing the markets. They pumped up the stock, like a pump and dump, so they were acting in just as bad faith as some hedge funds.

Just imo. Not up in arms. Just observing.

There are many sides to the issue.

At current price it's bag holder valuation for GME without calculator.

[Al_Dente]

Meanwhile:
JNJ (a dow stock) falls after they released data about its one-dose coronavirus vaccine. The shot was 72% effective in the U.S., but less so in other regions.
NVAX said late Thursday its vaccine was more than 89% effective. 
Personal Income increased 0.6% in December, Spending decreased 0.2%
Robinhood raised $1 billion overnight 

[QED]

At current price it's bag holder valuation for GME without calculator.

Maybe GME will "grow" into its valuation like TSLA.

[BullBear52x]

I like this setup, ambush the weakness. if there will be a down trend day, this is it.

[JFR]

I have mixed feelings about the GME et al market games.

I do like to see fair play between the giants and the retailers. Good luck with that.

But it seems to me the retailers in this case were kind of out for a revenge of sorts, to stick it to the hedge funds that were short GME. That is kind of dumb. Try to make money, not try to get a kind of revenge. And then the retailers put their own money at risk, when RobinHood, facing a liquidity issue, restricted orders. D'oh.

I like the fact that RobinHood has made the markets more accessible to retail. But young retailers have some growing pains to undertake, if they want to have some long term success in playing the markets. They pumped up the stock, like a pump and dump, so they were acting in just as bad faith as some hedge funds.

Just imo. Not up in arms. Just observing.

There are many sides to the issue.

At current price it's bag holder valuation for GME without calculator.

Book value down from 22.8 to 4.76 on GME. EPS at -4.75. ROE at -57.9. Those are the definition of bag holder numbers. It's a dog with fleas that the young retailers have pumped up. They played with fire.

[Cobra]

Members only update at 10:07 am
http://www.cobrasmarketview.com/2021/01 ... ay-update/

[Cobra]

I have mixed feelings about the GME et al market games.

I do like to see fair play between the giants and the retailers. Good luck with that.

But it seems to me the retailers in this case were kind of out for a revenge of sorts, to stick it to the hedge funds that were short GME. That is kind of dumb. Try to make money, not try to get a kind of revenge. And then the retailers put their own money at risk, when RobinHood, facing a liquidity issue, restricted orders. D'oh.

I like the fact that RobinHood has made the markets more accessible to retail. But young retailers have some growing pains to undertake, if they want to have some long term success in playing the markets. They pumped up the stock, like a pump and dump, so they were acting in just as bad faith as some hedge funds.

Just imo. Not up in arms. Just observing.

There are many sides to the issue.

Well said!

[JFR]

I have mixed feelings about the GME et al market games.

I do like to see fair play between the giants and the retailers. Good luck with that.

But it seems to me the retailers in this case were kind of out for a revenge of sorts, to stick it to the hedge funds that were short GME. That is kind of dumb. Try to make money, not try to get a kind of revenge. And then the retailers put their own money at risk, when RobinHood, facing a liquidity issue, restricted orders. D'oh.

I like the fact that RobinHood has made the markets more accessible to retail. But young retailers have some growing pains to undertake, if they want to have some long term success in playing the markets. They pumped up the stock, like a pump and dump, so they were acting in just as bad faith as some hedge funds.

Just imo. Not up in arms. Just observing.

There are many sides to the issue.

Well said!

Thanks, Cobra.

In terms that Benjamin Graham (Warren Buffett's teacher) liked, the market value should be near to its book value, $4.76. And that is dropping with the constant losses.

[Al_Dente]

all higher lows AT THE MOMENT
except QQQ lower low

[Al_Dente]

Cumulative AD
Daily

[JFR]

https://www.washingtonpost.com/business ... ks-reddit/

Meanwhile, at least seven retail brokerage firms — including TD Ameritrade, Robinhood Crypto, E-Trade, Charles Schwab, Fidelity Investments, Vanguard and Interactive Brokers — experienced service disruptions Thursday morning, which many attributed to higher volume, although they did not specially cite the GameStop activity.

Merentino, 40, a carpenter in New Jersey, said he sold all of his other holdings and bought 16 shares of GameStop stock last week through Robinhood when he saw news the stock was trending. He said he joined the Reddit message board to keep up with the saga.

Thursday morning, Merentino said he watched the company’s stock drop in premarket trading and tried to buy more shares. He said Robinhood canceled the transaction and flashed the message, “Order to sell has been confirmed at $140 per share.” Merentino said he tried to hit cancel but the sale went through and he lost more than $2,000.

He said the app took the money from his bank account but won’t transfer the sale, so he’s stuck and can’t move to other brokerage firms. “I just got on this GameStop thing out of luck really, and now I got screwed,” he said. “I’m not an expert of Wall Street stuff, but I know if I walked down the street and took something out of somebody’s pocket, I know where I’d be.

Playing with fire, in a game he does not really understand. Of course, I expect he did not do any research on the fundamentals of GME. Of course not.

And RobinHood has opened up a pandora's box for new retail investors. New ways for the sheep to get fleeced.

[Cobra]

Testing EMA20, it's the bear's last chance for today.

[Al_Dente]

On the FOUR HOUR chart
Lately when RSI is overbought and hits 70 then starts down, it's been good for a few SPX bars down... or more
I apologize for not posting this on 1/22