End of Day Wrap Up 02/04/2021
Is AMC and GME Dead?
Today there was more selling off of AMC and GME, which was expected, as the hype is dying down. I am still holding AMC because it’s still hitting my personal goal. As long as it continues to close above $6/share, and forms new support levels over the coming months, that’s all I’m looking for. I expect AMC to be back in the $10-15 range in the coming months as they continue reopening up in waves. Once they’re fully operational, I expect the stock price to reflect that. This is a long term investment for me, so I’m very satisfied with where it’s at right now. If it drops below $6/share, then that’s when I’ll be more concerned. Since it’s held above that level over the last 2 weeks, it gets an all clear from me.
I’ll be looking at re-entering GME once it finds a new bottom, which may take a few weeks. I LOVE buying selloffs so I’ll be watching this one closely for re-entry. I wouldn’t recommend anyone buying right now since this one seems to be the prime target for hedge funds that are angry that they got taken down by Reddit traders.
Short Sell Restrictions (SSR) looks to be back on tomorrow for both of these stocks, so I’ll be monitoring their price action.
The Highlight of the Day: BB Liquidating Inc (BLIAQ)
Today was a great day for BB Liquidating Inc (BLIAQ) There was 7.93M in volume, hitting a high of $0.08 intraday. Tomorrow I’ll be looking to see if there will be a continuation up for a possible reversal, otherwise I’ll simply be accumulating more red days so I’ll be ready when the OTC market gets hot.
Top 10 Green Positions (02/04/21):
Top 10 Red Positions (02/04/21):
I monitor Market Movers every single day to scan for new setups. I mainly look for positions with unusual volume that are at the bottom, ready for a reversal back up, or if they remain green, I look for a bullish chart for a continuation.
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