Long Weekend Mega-Post
My bullish balls feel like steel
Martin Luther King Holiday
If you are not aware, this Monday is Martin Luther King Day - meaning that the market will be closed and will reopen Tueday. This will lead to another Long-Weekend Effect or Holiday Effect. In short: high trading activity before a weekend/holiday (today) - then the following trading day (Tuesday) the majority short on market-open leading to a red-day which could stretch for 1-3 days.
My Strategy: Buy (today on the dips) and Hold through weekend, Sell Tuesday at market open if things look green before it opens. Wait for people to cash out while it becomes a red day, then wait another day or two to bottom out before buying back in. This also gives you a few days chance to re-evaluate your positions and make some better decisions for 2021, or for swing trading.
GameStop Short Squeeze
Here's Jim Cramer explaining what has been happening so far, and what is still currently happening. And here's a WallStreet Journal report if you feel like reading.
The beautiful thing is that the GME rocket is not done mooning! More squeeze to come... My strategy: wait for a considerable dip down to 34 (high risk) 36 (mid risk) or 38 (low risk) and buy in, then hold through the long weekend and sell again Tuesday pre-market open order.
Clearly the new Meme Stonk - buy low sell high - same strategy as GME!
Palantir's Rocket is almost done charging
Check out the afterhours performance (+5%). Why did that happen? All thanks to Cathie Wood from ARK ETF gobbling up almost 500,000 PLTR shares! Anything this magnificent stonker touches turns to gold... And she just happens to buy them at $24-25, only 12 days before Palantir's major presentation coming before their Earnings Report - which will definitely be a good one following their huge amount of contracts and new clients who signed up for their services last year. [Reddit DD]
So yes, buy now, especially if it dips today double up your positions, but I am expecting a green day today following ARK's news. People like to get on the band wagon - probably people will short GME, TSLA, and other meme stonks to get back into PLTR.
One thing to keep in mind is the lock-up period happening 3 trading days after the Earnings Report - if by then PLTR has mooned around mid 30s, that shit is going to get shorted big time on this day. More on this next week.
Tesla squeeze incoming?
Fridays tend to see a nice squeeze from the TSLA shorters... I'm counting on you dumb-fuck bears today!
Stimulus of almost $2Trillion announced yesterday
Thanks Biden for pumping up the market just in time for the Holiday effect! Also, expect a nice surge in Bitcoin and other cryptocurrencies during this weekend following further devaluation of the USD thanks to this pack.
Stay vigilant and let's have a good one folks!