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Regarding GameStop. I converse with various people about the subject and similar. Most of the enthusiasts are younger generation. Rebellious and trying to change the world and shove it to the elders. Some of the outcome is awesome, some is insanely stupid. That crowd included “influencers.” There are literally now millions of them in China now, lines of them on bridges next to eachother making videos for money. The problem is 2% of them control 94% of the revenue stream. The rest are wasting time. Learn how to spell the word – broke.
Couple that with the increasing influence of AI and mass job replacement, these generations are in for a rough time. Not a good time to be both ignorant and arrogant simultaneously.
There is value in the US Dollar. Bitcoin will never replace it kids. StableCoin (US government version to arrive within a year or so) will to an extent, but likely primarily as a transaction vehicle. For the Dollar.
‘Roaring Kitty’ Shows GameStop Bets on Livestream
Jun 7, 202419:07 GMT+2
GME−37.27%
Keith Gill, better known as “Roaring Kitty” on YouTube and X, showed his positions in GameStop GME during his YouTube live stream on Friday.
He currently holds 5 million shares and 120,000 call options.
And there you go – 40% DOWN….Kitty is not Roaring anymore 😀
Timing is everything, in boxing and in trading.
I can imagine this being Kamala’s take on it — “The thing about timing markets is your timing. Because timing is everything when it comes to timing, because its all about the timing and the timing of your timing. How’s that for timing!” – Kamala Harris
2. Stay Alert! Markets Move When There is a Surprise
It does not take a rocket scientist to quickly realize that global markets move when there is a surprise vs. expectations. This is true for key economic reports as well as other key market events.
Jay Meisler’s Common Sense Trading Tips – Part 1
XAUUSD DAILY CHART – DOUBLE WHAMMY
XaUUSD was hit with a double whammy — China stopped buying gold and the US jobs report.
Pivotal levels, like 2300, (and chart patterns) seem more important than any specific levels in an instrument like gold.
This is just my observation so following that logic 2300 is one of those pivotal levels that will dictate whether the retreat from the record high has more to go.
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