Heard of a dead cat bounce?
of course it's fishy!
it's more than controlling the rules of the game.
they own the dollars created loaned the government and given to us that we all gamble back to them.
it doesn't matter how many hands "we" win; we're playing with their chips.
and even worse; since they own the casino AND the chips *and* the rulemakers, they can just change the rules at will; **even when they lose**.
back when i had a reddit account, i got banned from all the memestonk subs because i told them all "well you realize even if you are right about a thing that *should* occur, the powers that be literally will Darth Vader style "alter the deal", the media will sell it, and you will be called a crazy loon left holding the bag while they count their trillions they had to begin with and now more **because they literally own all currency anyway since they are the fed**"
like i see so many posts there even now, today, where they'll post some media shill handwaving a clear violation of finance law in favor of you know who, **and they still seem surprised by it***.
this was evitable because even if crypto and memestonks *should* "win" they simply wouldn't allow it. a revolution of people "not sharing financial advise" is not going to defeat the federal reserve. this is because those things are backed ultimately by weapons of war; i'm not sure if crypto and memestonks are there yet.
i know i was certainly a *lot* younger than....well maybe anyone here other than been at the time, but when i witnessed businesses and banks being "too big to fail" and the 2010 flash crash, i knew no matter what i thought i might "know" about the market or could predict; only one rule above all else held true.
they will not lose. if you think you are in a position to win and they will take a loss; it won't happen. it just won't.
This sounds familiar.
Still hovering around less than $15 per share, interesting.
You just went long this? I guess for a pure gambling play maybe. You going off rsi or something showing in oversold territory or what initiated that entry?
I didn’t spend much. I’m going with my terrible instincts. Just gambling.
Gotta gamble sometimes. If IV gets really low you might consider some OTM call options just to get some leverage without margin and a convex payout scale...I made roughly $40k on amc calls during the initial spike.
I only vaguely understand those concepts. I need to keep learning. I’ve been way up a few times just buying those meme stocks but didn’t get out.
There is a book called "its when you sell that counts" by Don Cassidy that might help you with that. But I agree man it happened to me too in memes. Knowing when the juice is squeezed or you're wrong on the position is difficult with something that volatile. I had to move on and now I trade commodity futures exclusively and loving them.
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North East OK
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