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GameStop Corp. Message Board

  • stocktrader486 stocktrader486 May 6, 2013 10:07 AM Flag

    Short or long - No hate - Please only real investors discuss

    Do you believe this rally/short squeeze has ended? Lets talk technically and lets talk fundamentally...

    This is trading past analyst targets, blown past rsi support levels and fundamentally there are two quarters of issues ahead. What are your thoughts people?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I am long, but I think this stock has to ease up a little bit before it can go up again. Looking at the weekly chart of the last time this stock went up from $20 to $60 between 2006 to 2008 you can see that this stock didn't really give back much after rising along the way. The main thing I see is sideway trading until the next leg up. Hence if (a big if) history repeats itself, it's possible that this stock would rise and then trade side-way without giving up much ground. This would be the idea scenario for a person that is long, as I am.

      Sentiment: Buy

      • 1 Reply to lfbamazon
      • Stocktrader, you are dealing with a stock that historically trades in the $20's range. Its up because after reports of used games being ebolished from the new harware cycle (ps4, xbox720) every one went short. Hedgies saw it and hit the hft gas which pressured it and loosed a wave of short covering at the $30 squeeze trigger. When the short covering stops this doesnt go to $35 or $30 it goes to $20. Xbox 720 unveil is in 2 weeks. We get word of no used game always on drm then longs best proof-read the eulogy and arrange the burial services.

 
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