well, that's all folks. the rest of my shares should be getting called away (covered calls).
I wont be entering a new position in GME, mostly b/c the stock is a small-cap. i broke one of my rules; no small cap, cause they are easier to get manipulated by big players. So, GME will be tucked away, until it's of a bigger size.
I do hope though, that the Shorts get crushed. this is not the 1st time that i bought a stock, that got caught in a firestorm, cause people thought the end was coming. GME took it on the chin b/c some people thought streaming was going to be the death of GME. that argument is over a year long. Streaming isnt going to dominate until broadband speed improve. Also, like me, people like going to the store, they like looking around at what's titles are out there, touching the box. But you get a few players to start a fire, & a bunch of followers to go along, & common sense goes out the window.
So i do think that GME still has some upside, especially if they meet their numbers, & reaffirm their forecast. I would think the smart shorts are on the sidelines, cause if that happens the squeeze should be big, given the huge short interest.
But I wont be playing it. too risky for my #$%$
So, that's a wrap, folks!
let's see how we close today
you might want to consider selling covered calls on your shares
its what i do when i'm down on a position
hope that there's a bounce by end of week
i mightve sold puts further down, i.e. 15.50.
looks like we're gonna retest it
i believe the refineries are still on strike.
you have to process oil into gasoline. without the refineries, gasoline prices will have support.
I made a decision that made sense for my portfolio.
its not like I'm short, but ya guyz thumb down; like a bunch of little babies.
sold 40% of my stake slightly above my break-even
most of my profits on the trade came from selling covered calls on the position
the rest, i sold covered calls on, & have an expiration date before the next earnings report (later this month).