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  • Pattern recognition to buy the dips!

     Curunir updated 1 year, 3 months ago 2 Members · 2 Posts
  • 09xx

    June 10, 2021 at 2:19 pm

    Good Afternoon my fellow apes and apettes!
    I want to know if you guys have tips and tricks to recognize patterns because i would be very interested to know how to spot potential dips. I have transferred money this morning and I will be able to buy more amc/gme tomorrow!

    – I know there are usual friday dips
    – I know the hedgies massively short 3-4 times a day out of nowhere
    – I don’t know any bearish patterns

    What should i be looking for?
    Thank you!

  • Curunir

    June 10, 2021 at 4:15 pm

    Keep in mind AMC does NOT behave like any normal stock should. This alone is why we know there’s shenanigans. Unfortunately it also means it’s hard to find real patterns.

    The best you can try is to scroll out and look at how the last few days have looked and go from there.

    On a typical day you’ll see a brief spike right after opening. Lately this has been the best time of the day to sell if you need to grab some profit and use it to roll into future options. But if you have actual stock you are probably better just ridding the wave. From there though it’s been a steady push down for the rest of the day. But this has only been for the last week or so. Before that we had a very different pattern for a few days.

    Yes, Fridays are usually a huge push down. They really want to keep the options hosed or else they will be.

    We do typically start the week strong on Monday. The after hours seems to give us a starting point a little better than we ended the previous Friday on but it may not hold past that first 30 minutes.

    Next week is going to be brutal I’m afraid with so many ending on the 18th. This week may be a preview, but at the same time we could see major positive action because of all the news and the expiring options. So I’m staying flexible and looking for opportunities. I’m pretty torqued off myself because a few days ago when we were in the low $70s, I was up about 200k on my options alone, and still had around $120k in the high $50s. Now I’m only up about 20k on options and many expire on the 18th. I would have loved to have had that extra $150k+ for growing my investment here but never expected the strength of this attack to last this long.

    So if we have a good rally tomorrow or Monday I’ll probably sell some of my higher-strike options that may be at risk for the 18th. I’d love to see things go higher as the week goes on but I want as much cash as possible to roll forward. My $14 strike options are something I want to exercise as I doubt we’re going to be pushed anywhere close to that. So when I sell the others I’ll hold enough to exercise those and just look for a period of bar-coding to find my next tier of options.

    So the “patterns” are sort of there as far as there is consistency to what we see with the attacks. But it’s not regular enough to call days or time periods beyond generalization. And it’s very hard to predict how effective they are going to be or when our momentum will return and theirs will die out for a few days.

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