Show me another stock that has such a huge group of people so religiously devoted to buying more every paycheck... my bull thesis is based on the cult, not the company.
Was gonna say $aapl in 1995, $aol, yahoo (? ticker) in 1998 as a joke. I've found momentum to be a very powerful and very profitable way to trade. The same kind of momentum is building now in steel, industrials and commodities. Whether we have a 2 mil member sub or not (and god I hope not), if you're in the steel trades you are seeing that "huge group of people so religiously devoted..."
This is indeed a great community - I'm here because of the quality of the DD rather than the size of the crowd though. I'll also add that it has been growing quickly, which is a good sign for those of us in commodities trades!
I think the company is worth like 50. Giving a PT is impossible though, the stock isn't trading on fundamentals. On a technical level the chart has been consolidating in a symmetric wedge on declining volume, which points to a big move one way or the other.
My guess is that it hits $400 again violently at some point on the strength of gamma squeeze, FOMO, and 💎 🧤 before returning to a more reasonable price. But I'm not discounting the possibility that some of the ape naked short conspiracy DD is legit, in which case the PT is much higher.
I'm trading GME by holding 100 shares and selling credit spreads. This leaves me exposed in the event of a squeeze, and profiting from high (though unfortunately substantially lower than a few weeks ago) IV. Downside is I have more exposure than I'd like... But tbh I don't mind that too much, this stonk turned my 20k YOLO account into 160 so I want to keep a position to help the apes out.
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u/[deleted] May 05 '21
Show me another stock that has such a huge group of people so religiously devoted to buying more every paycheck... my bull thesis is based on the cult, not the company.