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Unfortunately Gamestop is going the way of the malls that house it. It's pretty sad, I've always went to Gamestop as a kid and we went to shopping malls often. I always found the shopping mall to be a solid and comfortable experience.
I miss there being multiple gaming stores as more of a norm. Once it was just Gamestop left it felt sterilized.
Ę̵̚x̸͎̾i̴͚̽s̵̻͐t̷͐ͅe̷̯͠n̴̤̚t̵̻̅i̵͉̿a̴̮͊l̵͍̂ ̴̹̕D̵̤̀e̸͓͂t̵̢͂e̴͕̓c̸̗̄t̴̗̿ï̶̪v̷̲̍é̵͔
It's interesting to see Reddit brutalizing shareholders who were shortselling, it's kind of like a "fuck you" to Wall Street. Robinhood shut down the trading for it, the federal trade commission is doing veiled threats like "any illegal activity will be punished." People don't even care, they're doing the same thing in other stocks too like AMC or Bath and Body Beyond.
This is about the time to be paying attention to the flow of money. I made a post in c4's crypto thoughts thread about an e-mail I got that I think sheds a lot of light on the situation. Gamestop is of course a dying business considering we're in the Internet age now and you just download games...this shit was really just about fucking over greedy hedge funds.
What happened was Elon Musk Tweeted the link for the reddit page, then after that, GME blew up.
![Posted Image]()
The people behind this aren't just a bunch of kids on reddit. They are professionals, very wealthy, and are connected somehow connected to Elon.
Did big firms really get rekt ? What an amature move to buy a chart that's clearly been manipulated. How does one expect GameStop to be so valuable under a pandemic to begin with ? It was clearly a bull trap.
mfw i made almost 10k from this
You ? I doubt it.
How far along was the bandwagon before Elon tweeted that? Did he get the ball rolling, or was it already rolling? It's interesting to note that Elon Musk is a memetic character himself. Few rich people have been able to integrate into memetics and tap into its power quite like Elon Musk.
The wreckage.
Because of the nature of this market it's difficult to say what comes next. Technically it should boom but economically it shouldn't, but it isn't normal either GME isn't supposed to be worth this much.
This pattern resembles the Bullish Gartley Pattern, which is a sign of an extreme incoming movement to the upside.
There are billionaires like Elon Musk and Mark Cuban that are advocates for the WSB movement. Justin Sun invested 10 million worth of shares into this movement, and probably other big companies possibly Binance also did this. Organizations like these will show face during this because WSB has a lot of power when it comes to pumping even cryptocurrencies, as they've demonstrated with ADA and Doge.
Robinhood for the majority of this movement only enabled selling while the option to purchase GME was disable, but now reactivated that option limiting retail investors to 20 shares each. Robinhood will most likely have a class action lawsuit pinned on them over this manipulation in favor of hedge fund companies. Other platforms will also have to answer for similar crimes.
The red bars under the chart indicate minor selloffs that will probably go back into the stock if it turns around tomorrow.
The large green bars to the left between the 13th and 15th are probably the hedge funds pumping the price of GME, only to bed Futures on it then drive the price down by selling their positions. Higher risk higher reward, so they will short/borrow money they don't have to make a killing.
2 Hedge funds died at this point in time.
MACD on this 1h chart shows signs of a reversal hence the length and colour of the red bars, and the red and blue lines ready to cross and move to the upside. The MACD on other charts indicate a coming drop which could easily turn into a fakeout granted the 1h determines anything longer than it.
RSI is also bullish, not as low as it could be, but the climate for entry is present.
Tomorrow when the markets open, it's going to determine if this movement carries on. If it does it will spike up hard, probably harder than it did on the first day. That's IF, it does. The little guys might be spent while some of them will most likely sell as soon as they can.