If you think today's markets are boring, think again! Remember the old Wall Street saying, “Never short a dull market”? That's because even when the market crawls, it can still pack a punch. Take GameStop, for example. Out of nowhere, shares doubled during the day and closed up a whopping 70% from Friday! Why, you ask? Not because of any groundbreaking company news or a shiny new business deal. Nope, it was all thanks to Keith Gill, aka “Roaring Kitty.” Yes, you read that right. The guy who turned the market upside down in 2021 with his meme stock mania just posted a cryptic image on X (you might still call it Twitter). That was enough to send traders into a frenzy, interpreting it as his big comeback. This guy posts one picture, and suddenly we’re back in the rollercoaster days of 2021. But before you jump in, let's set the stage right. This isn't 2021. The market's changed, the rules have tightened, and there’s more GameStop stock floating around than during the days of peak meme mania. Plus, the high-frequency trading firms? They've likely already positioned themselves to profit from this frenzy. Today's chaos saw over 175 million GameStop shares changing hands—30 times the usual volume. Trading halts? Yep, several of them. And for those betting against the stock, today was painful—a staggering $1.4 billion in unrealized losses. The buzz around GameStop has meme traders salivating, hoping for a repeat of the past. But here’s the catch—today’s conditions are different. A chunk of the stock is held by short sellers, sure, but with changed margin requirements and more stock available, expect a softer sequel rather than a full-blown rerun. So, what's the move? If you're feeling the pull of nostalgia and the itch for action, consider this a speculative play. Dive in but be nimble. Remember, fast gains can turn into faster losses. That’s the market for you—unpredictable, thrilling, and at times, downright bizarre. Whether it’s Roaring Kitty or some other wildcard, the game is always on. So, strap in, stay sharp, and maybe keep a bit of that gambling spirit ready, because in this market, you never know when you'll need it. Good trading, and remember – rent's due. Josh Belanger You're currently a free subscriber to Josh Belanger. For the full experience, upgrade your subscription. |
Senin, 13 Mei 2024
Stonk Jesus Has Risen!
This Data Tells Us Stocks May Be Ready to Shoot Higher
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This Data Tells Us Stocks May Be Ready to Shoot Higher
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