The Investment Thread

bclemms said

It could also go to $0.

It warm buttered through several key support levels the last two weeks and the chart is shaped like a slide.


Then again, everything is getting crushed right now. I’ll even take a dead cat bounce just to stop the bleeding.

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I don’t even know what a support level is anymore. So many stocks (and especially retail stocks) are getting crushed for about 8 straight weeks now.

My hunch is that this is all a Hail Mary by quite a few entities that made a really bad bet. I think this arrow is getting pulled back as far as it can go. Even just pinning these things in place has to be exhausting for them.

One example is the ETF XRT (full of meme and retail stocks). That ETF just had the highest number of Failure to Delivers in its history. Retail has bought nothing but thin air for weeks.

Edit: to fully appreciate the absurdity of what’s happening with XRT…XRT has 5.1 million outstanding shares. On December 21st….there was 5.6 million shares of XRT that failed to deliver. WTH.

I’m eyeing mid February when things get really humming again.