Testing day high, key time. Breakout would mean some chances it's an uptrend day but since it's too late and mostly will be within the Friday's range, so I'll treat it as a range day anyway.
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Not a good sell setup, HH. better to wait and buy in on MA support. it's an inside day, it's hard to predict like Cobra said. the day still young, I will wait for failed bull action before get back in again. not a buy day for me.
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This bull shall have legs. The current widest bar could be an exhaustion bar or at least start to show a sign of exhaustion so should be a pullback or consolidation in the next couple of bars.
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SUMMARY UPDATE:
* Robinhood force-sold most accounts out of GME late last week, to meet clearing-firm demands. Robinhood CEO Vlad said they received a request at 3:30 a.m. Pacific Time on Thursday from the National Securities Clearing Corporation. NSCC wanted a $3 billion security deposit [later negotiated down to about $1.4 billion] to back up trades, “an order of magnitude more than [like 10x more than] what it typically is...” Vlad said.
* The forced selling left Robinhooders with millions of dollars in proceeds/profits (some losses).
* The Reddit folks migrated to SLV. [Not much squeeze potential there as the latest short-interest report shows only 3.92% of the SLV float is short, while as you recall GME got up to 130% + of the float short.]
* The boards touted PHYSICAL SILVER rather than SLV. Over the weekend, main street Gold and Silver Shops reported a mad rush of buying in physical silver. A few ran out of inventory.
ELSEWHERE: The founder of Wallstreetbets (on Reddit), Jaime Rogozinski, said over the weekend:
“This new group of people [the “little guys”] … they are using brokers that have the worst possible executions imaginable, they’re paying crazy spreads, delayed quotes, they’re hitting market orders all day long, I don’t think they know what limit means [they do], and they don’t care because they’re creating this massive wave, so what if they miss out on a few bucks, they’re turning a thousand dollars into a hundred thousand dollars … or fifty thousand dollars into fifty million dollars, they don’t care if they got three cents on the bid/ask spread, they don’t care if the execution got screwed up … they don’t even have bar charts… they don’t even care … it’s a new thing and it works ... “
Last edited by Al_Dente on Mon Feb 01, 2021 1:15 pm, edited 1 time in total.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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I’ll be darned:
GME is in the IWM (smalls). According to the issuer, GME is 0.71% of IWM as of 1/29, that’s its #2 holding (#1 being PLUG at 0.97% weight).
Seems like a small weighting, but IWM with 2,000 stocks is pretty well dispersed, with no single stock weighted more than 1%
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
The very first test of EMA20 in 2+ hours, watch for EMA buy setup which sometimes may only good for a scalp though.
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Bulls are strong, very strong like whatever. Haha. Last stand for bears is 5 DMA, we will find out the outcome by tomorrow. gap up overnight will be a buy. easy to see Yes or No
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Under mid BB, this is Hourly with daily BB equivalent setup. any ways dead cat bounce until a trade back up above mid BB to be bullish. so, bulls are not out of the woods just yet.
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