In yesterday’s post (HERE) we said you should get out of GameStop because it looks like it’s Game Over.
And if you didn’t get out of it, then you should do it today before the boyz in the “Club” put the final nails in its coffin.
Meanwhile the peanut gallery is chanting: “But, But, all my friends are making a killing. And Reddit is…”
Stop right there!
All of your friends are NOT making a killing.
And Reddit, Robinhood, along with all the guru-wannabes out there, are NOT making the markets move.
In fact, they’re lining up like livestock begging to be slaughtered by the 1%.
Here’s what most people are missing.
Any hedge fund manager worth his salt would not be shorting GameStop in the first place.
It’s a thinly traded stock.
Translation: There aren’t enough shares available for the big boyz to mess with.
And yet the Presstitutes are saying things like “GameStop is getting inside Wall Street’s head.”
The only thing getting inside Wall Street’s head is the sound of the Cash Register Ringing.
And before all this ongoing madness of GameStop ends, the boyz will be ringing the cash register.
Unfortunately, there will be blood all over the street.
Just make sure it’s not yours.
The point here is the boyz are doing the old “Look Here, Don’t Look There” act to keep you from listening to what the markets are really saying.
Example: The DJIA was up over +648 points early in trading yesterday but ended up losing 348 points before the close.
The news driving it was that the GDP for the 4th quarter in 2020 was +4%. (Estimates we’re actually higher)
Pretty impressive, right?
What they don’t point out is that our total economy in 2020 contracted by 3.5%.
And it was our worst performance since 1946.
Meanwhile everyone’s focused on GameStop’s roller coaster ride from $347 to $483 back down to $112 then back up over $300 and closing at $193.60.
Ironically (or NOT) the after-market trading saw GameStop surge over 118 points to $312.
So, basically what you’re witnessing is a classic Wall Street 1% move to jam the 99%.
Don’t take the bait.
You won’t beat them.
Instead, you should learn how to trade like them.
And when you do, you’ll prosper AND thrive in Turbulent Times.
Find out how in our “…In Plain English” newsletter (HERE).
It’s Not Just About Finance.