GameStop and the other meme stocks have already run up in anticipation of the House passing the $1.9 trillion stimulus bill, however…
(by Half Dollar) It sure looks like a set-up to me.
Check out GameStop:
It has already run up in anticipation of the House passing the latest fiscal stimulus package, in my opinion.
AMC, another one of the so-called “meme stocks”, has also run up:
Has any of the run up been on margin?
On borrowed funds?
On a ” tax refund anticipation loan” from H&R Block?
Or on myriad leveraged bets already placed?
Remember, if the House passes the bill as it stands from the Senate, there will be less free money for gambling in the rigged casino than anticipated.
Furthermore, retail investors are one thing, but the one thing that they are absolutely not is the Cartel, which has unlimited money and unlimited time on its side, so long as people continue to feed the Beast. and as such, if the Cartel, or some hedge fund, or funds, or whoever, really, wants to give those pesky retail traders a good old fashioned pounding, well, let’s just say the clean up won’t be pretty.
And so, it seems the stock market has been set up for something interesting, as in a downside surprise, especially since everybody is absolutely certain the market can only go up from here now that we’re on the brink of fiscal stimulus, again.
One of these times, however, the stimulus is going to have a detrimental effect.
OK, “Hey Half Dollar, remember those crazy college days when you’re like totally partying, and every bit of stimulus is great, and the party’s really rockin’, with the music pumpin’ and everybody totally crap-faced drunk or whatever, and then somebody whips out that bottle of cheap tequila, and the Best Party Ever turns into the Most Epic PukeFest, you mean, kind of like that?”.
OK, “Hey Half Dollar, what, are you going to weasel your way out of that question too, when everybody knows you totally blew your lame silver call that the bottom was not in?”.
I do not think I’ll be wrong about that call.