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  • Perspective…

     Curunir updated 1 year, 4 months ago 2 Members · 4 Posts
  • Curunir

    May 29, 2021 at 3:47 pm

    I’m trying to stay away as much as I can over the weekend, but I’m seeing some chatter here and a lot on YT, reddit, etc about the “loss” on Friday. I seriously think some people are looking at this with too much of a micro vision.

    We closed on Thursday at about $26.36.

    We closed Friday at $26.12.

    We started Monday at about $12.38

    For the last several weeks we were cheering to end a week ahead by even a dollar. WE ARE UP FOURTEEN DOLLARS IN ONE WEEK.

    Yeah we had a major spike that got people excited but the volume in the morning was insane. The price has been mostly going up for days. I really think we would have seen a similar dip even if it wasn’t an options close week although maybe not as much.

    There were going to be a lot of people that were seeing themselves up 10k, 30k, etc and just didn’t want to risk loosing it. There are going to be a lot of institutional investors with huge positions that look at that and see major profit without care if “the movement” really has any validity. Day traders that saw AMC come up on their alerts over the last couple days and wanted to pull a guaranteed profit.

    Something like 170M volume between 10am and 10:30 that pushed us up to almost $37. We were SO over bought at that point that selling was bound to happen. Then those sales started, the price starts to drop, the panic starts or the algorithms trigger and the first huge sell off happened. That was an 80M volume in thirty minutes. Only three other times has AMC ever seen that volume. Two of those were last week, one one of those two was another sell off immediately after a huge spike.

    But in each case these sell off volumes are less than the buying volume the period before. Each sell off was followed by rebuys. We ended the week WAY up and held ground on Friday despite what looks like major losses if you zoom in.

    That spike we saw was only a tease of the potential going into next week and had no real chance of sustaining yet anyway. But it WILL be something exciting for people to be talking about all weekend with friends and family and when Tuesday morning comes those people will be looking at an entry point in the mid-twenties knowing they’re already likely to double their money in a couple days.

    That “loss” on Friday may be the best thing that could happen to help FOMO decision making on Tuesday morning.

  • HastaLaLuna

    May 30, 2021 at 4:37 pm

    Yup. When in doubt, just zoom out.

    1 Day vs 1 Week vs 1 Month vs 1 Year

    • This reply was modified 1 year, 4 months ago by  HastaLaLuna. Reason: Rearranged order of pics
  • HastaLaLuna

    May 30, 2021 at 4:40 pm
  • Curunir

    May 30, 2021 at 5:14 pm

    zoom out and smile

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