Imagine if the measured ABC move prints? Great chart P
pantheo
⋅
@DeanT, thnks, it will break up eventually, the question is when. Cheers :-)
DeanT
⋅
@pantheo, what will it take to clear the deck? Above March 2020 high is not enough IMO. Which Central Bank moves to protect their balance sheet first? First move will have the advantage.
pantheo
⋅
@DeanT, I really don't know. I don't think anyone does with this "war" on GME, AMC etc etc. It's really absurd to believe that retailers have the power to squeeze or change the trend by themselves, as many as they come along. This is clearly a war between hedge funds, presented by the media as a one of robinhood retailers. Some HF's smelled blood on Melvin and others and long the stocks to throw them out, feeding the media the story that retailers did it. I suspect they had already some kind of regulation ready or maybe lobbying the new administration and needed someone to sacrifice to make the story public. In this case retailers will be presented as victims to pass the regulation I suppose. I think maybe the high is in for GME, so the scenario will be transformed in such a way to "protect" retailers against losses in the future after many will start throwing in the towel when the stock starts diving below $250 and especially $200. I feel that things are dangerous right now that's why I trimmed and even closed most of my positions. Really few people are thinking the hidden danger in clearing houses and settlements that might occur in the next few days. I really don't know what will happen. All I now is that you can never win against people with unlimited sources of money. I even had to reboot IBR three times in the last two sessions to work on closing and trimming positions. Brokers, pushed by clearing houses, are in shaky position, hence they are not allowing free trades in the popular tickers now. If one goes bust, dominoes begin, FED to the rescue, few freshly printed trillions in and market will continue higher because of dollar debasement and inflation creeping into assets along with food shortages due to the disruption of supply chains that covid caused. It's all about the dollar now. If breaks out within next 4-6 weeks, take cover. Take care, cheers, P.