Re: market discussion
« Reply #168 on: June 11, 2021, 09:47:52 AM »
These "Apes" keep putting out new information every day on why it's going to see a short squeeze and go to parabolic numbers.
maybe it will... but currently it's getting the hell beat out of it with no short squeeze in sight.
so far it's behaving just like any other "pump and dump".. just with a different catalyst.
I'm going to wait on the side lines.. see how low it drops.. wait for some consolidation ... and maybe buy some shares
right now my opinion is that it will slowly drop down to $30ish range.. give or take a couple dollars (but it could be even lower we will see).
i think it's likely it will hit that low.. settle for a little bit.. consolidate ... appear as if it's completely dead in the lower price range that it settles... then out of nowhere it will come back to life and probably make it back up into the mid 40's, but not much beyond that.
so my plan right now is to just sit and wait, ignore what the apes want to happen, and focus on what is objectively likely to happen... and i should get an opportunity to make around 50% profit on another AMC swing trade..