Still think TITNC3: Return of the Iceberg was peak

https://youtu.be/yY877xAE9Jg

I know its not time for evening off topic shenanigans but a few of you may appreciate this.

If any of you remember the viral clip from battlefield 3 with the pilots in the jets, they pay homage to that clip in the trailer.

 

Just shy of a record close on S&P. Dow and Nasdaq’s up. Why am I feeling so poor?

 

because we all basically hedge against the market with degenerate meme stocks fueled by nothing but hope, conspiracy theories, and bananas.

 

And bananemas

 

This guy has been bang on for months now, sometimes to the exact dollar.

https://www.reddit.com/r/Superstonk/comments/nwyj77/elliot_waves_and_gme_why_im_jacked_to_infinity/

 

that's a lot of lines....
TL;DR - the cup and handle thesis is pretty interesting...

My 2 cents and crayons...I don't know how to draw, and i just push buttons with buy/sell written on them?

it's either gonna go up tomorrow...or go down, a lot.
there's some level of resistance at about every $20...good thing is we tagged the ~220 level (previous pivot on 5/28) and bounced off it.
it's sitting at 228 in AH. The $200 level looks pretty weak. $180 looks a lot stronger.
As far as i'm concerned just about everything from April and May is basically 'resting' period...there's no volume...we're seeing volume again and so this thing is blowing up...more volume = good.

Also, i got a magic ticket - so i'm hoping that happen

 

I'm in for more if it goes below 180 myself.

 

Right there with you on that one. This thing is acting way too fucky for things to be normal behind the scenes, and way too fucky for it to be retail paroxysms (retail doesn't get moody to the tune of 20% price changes on 4-6 million shares intraday).

Weird shit is happening. Liquidity is clearly low. To me, Occam's Razor = a whole lot of naked shorting in the low double and single digits that thought they'd never have to cover because this thing was going to zero who are now simply buying as much time as they can while they try to figure out what the fuck to do, because there are way too few shares and way too many parties that need them.

There's that saying about falling in love and going broke: They happen slowly, then all at once. Frankly, I think this is just how GME is going to look until the first domino falls, and then we're looking at a few days to a week or so of absolute mayhem.

 

I thought you fuckers said the shorts on GME where out of ammo? Looks like they still had a few rounds left. lol

Although the negative delta on a JUL 02 $550 I picked up this morning when GME was down $32 is kinda neat. lol

 

Every minute for the past 48hrs.

 

you got one of the magic tickets too?

 

I got 2. @Nimble9 mentioned the JUL 02 $600 so I picked up one of those. Then I was driving to work and decided to pick up a JUL 02 $550. My NVDA gains have allowed me to be a little more stupid then I normally would.

The place I'm working is a fishing camp in the middle of the Upper Owens. It's got ZERO cell service. When I left service GME was down about $29. When I got back in service the market had closed with GME down $82. Both those calls should have been toast. The $600 is down 20%. The $550 is up 10%. No fucking way that should ever happen hence the negative delta comment. Something is fuckard.

 

same....i picked up the 600 strike as well...when price was like $256...it dropped a little bit, but then never went below what i paid.

Last time guys! i've been beating this horse all day...

 

Wasn't a short attack. Look how linear it went down all day. That was gme issuing their 5m shares for their targeted $255 average.

 

Did we confirmation that’s what it was yet?

 

they filed to sell...not sure they did yet...
folks might've been selling out on the news...

from Barron's:

 

No, but the math adds up and the way the price dropped was very similar to the estimated time they did their first offering

 

From yesterday's 8-K:

"In addition, the Company intends to file with the U.S. Securities and Exchange Commission a prospectus supplement to the base prospectus included in the Company’s shelf registration statement on Form S-3 (File No. 333-251197) under which the Company may offer and sell up to 5 million shares of its common stock, from time to time, in “at-the-market” offerings. The Company intends to use net proceeds for general corporate purposes as well as for investing in growth initiatives and maintaining a strong balance sheet. The timing and amount of any sales of shares, if any, will depend on a variety of factors, including prevailing market conditions, the trading price of shares and other factors as determined by the Company."

There is no filing from them today. So they didn't unload shares unless they did it illegally.

 

The SEC posts the forms as soon as they are reviewed. That's almost always the same day.