Thread by @paulburrer

$GME thread that hopefully brings light and not heat. Lots of FUD (in both directions) out there. I try and be aware of it, but I think it is more important to understand what's really happening. @alphatrends AVWAPS don't lie. I have been trading this since October.

Let's begin

We gapped up from $20 to mid $30's Jan 13th at the Open. I thought it was the beginning of the squeeze I had been waiting for since SI was at 102% iirc. That first VWAP is set to that Gap Up BO. Look at how well price AND VOLUME respected the gap.

For an entire week, that held. That's when I thought, "Hmm. Usually on a SS squeeze its a quick violent rise and then you get some type of collapse." That didn't happen. Also SI didn't decline. Then I looked at @CheddarFlow dark pool prints

https://twitter.com/paulburrer/status/1349789970396041217?s=20

Another Hmm. If this was a bunch of kidz getting lulz, then they had conned some large institutions to be in on the game. Possible, but not likely.

Continuing... last Friday, price started gapping up ABOVE the BO VWAP. Look at the @TrendSpider chart again.

This was INCREDIBLY BULLISH on top of the already bullish Gap and hold. Was this really due to a bunch of tweens WSB spending stimulus money? Search from:paulburrer gme dark pool to see what I mean.

Now when I look at each days VWAP since Jan 13th, I see support is being found at the previous days VWAP. Don't usually see that at the top of a SS. I did see lots of top callers last night on Twitter.

I know two things:

1. $GME WILL TOP
2. I won't know it until it has happened.

I still have 2 calls left to manage. I am not buying any as the derivative system is functionally broken (at least in this stock).

https://twitter.com/paulburrer/status/1347606860074012672?s=20

Here's the interesting part (at least for me):

I *MIGHT* buy common as the squeeze STILL HASN'T HAPPENED. That's right. There is more Short Interest now than there was when it gapped up from $20 to mid $30's. Shorting $GME (IMO) is from a R/R perspective not worth it.

I can make the case that going long in anticipation of the SS might be worth it.

https://twitter.com/ihors3/status/1354477089471295492?s=20

These are very dangerous times in this stock. Short are down $25BILLION.

No one knows what is going to happen from a regulatory perspective (the Hunt brothers are nodding their heads).

Execution risk is a thing.

Anyhoo, I hope this helps and BE SAFE!

@AOTtrades @traderstewie @n_bancroft2 @PatternProfits @87AlwaysRed @HawkStocks @Trader182 @ibex_matt @SunriseTrader @GaelicAidan @RodAlzmann @ryancohen @michaeljburry @Trendspider_J @Canny4 @allstarcharts

$GME was taken down to the highest high AVWAP. I had my buy set to the BO VWAP. Didn't get filled. Todays will be set to yesterday's low AVWAP. ~$225 ish.

Darkpool buys reported yesterday over $600M. I think WSB *was* a fig covering larger players that were taking the shorts out and shooting them. The squeeze is still in play as more shorts appear to be coming in to replace those that have been destroyed.

Still have my 2 calls. I have one set to yesterdays high sell of $42,600. I paid $85 3 weeks ago.

Truly Remarkable.

So Monday we find out how many retail $GME call holders that got assigned have the $ to take delivery. I am seeing zip, zero, nada in the price action that tells me to exit my last 4/16 $40 Calls. If an important AVWAP is lost, I’ll re evaluate. Alerts set. Emotion out.

Oh and if you didn’t see it, $GME put in a IHS on the 65M chart.

$GME $187.12 is the level I am waiting for. Will see how it responds & act according to plan

The cool thing about this $GME price action is you can see on 1/28, they tried to bull rush the longs and scare em into selling at the open.

Buyers that respect the AVWAP stepped in and kicked the shorts teeth in (again). Today, they waited till the close. Will buyers step up?

Nibbled $GME @ $190