00:00folks we've got an emergency on our
00:01hands so after the biggest GameStop
00:03surge in 3 years well the last couple of
00:06days you saw a reversal to the downside
00:08and in today's video I need to discuss
00:10with you what happened and whether it
00:12makes sense to buy the dip will there be
00:14a Resurgence or is this the end we're
00:16going to go into the details and the
00:17setup and what's going on behind the
00:18scenes here and as always the only thing
00:20I ask in return is that you hit that
00:21ravishing like button and subscribe and
00:23as always make sure to do your own due
00:25diligence on all ideas presented here on
00:26the channel if you're the one taking the
00:28risk you got to be the one doing the
00:29ultimate frisk okay so context here
00:31roaring Kitty starts tweeting Sunday
00:33evening people chased the stock up in
00:35the premarket and then threw open and
00:37then it sells off but the next day you
00:39get another pop to 80 bucks stock then
00:41proceeds to sell off to 35 bucks before
00:43popping again to 65 then it sells off to
00:45lows reached yesterday at 30 bucks and
00:47then today sold off again and at the
00:49point of making this video was trading
00:51at about 30 bucks meanwhile roaring
00:52Kitty has been regularly tweeting his
00:54memes the whole time causing many to
00:56worry that hey maybe roaring Kitty maybe
00:59the Roaring Kitty induced excitement is
01:01wearing off now we've been covering this
01:03basically play byplay on Twitter SLX and
01:05here's what I said yesterday morning
01:06quote volume for gme coming in very
01:09light this morning versus the last
01:10couple of days dropping off volume is a
01:12horrible Omen for Upward momentum expect
01:14more support levels to be broken down
01:16before this reverses a much needed
01:17breath is happening now but the real
01:20game is when the next wave gets bought
01:22up the further it drops the farther it
01:25drops the more it can bounce in the
01:26Resurgence now we are now about a day
01:28after that tweet and floors continue to
01:30be broken and without a reversal of
01:32volume we can expect more and more
01:34downtrending you go ahead and you
01:36analyze the volume that first day while
01:37it was huge then the second day still
01:39huge but a little bit lower Third Day
01:40lower and the fourth day today looks
01:42like it'll be about less than half the
01:44first day so why does this matter well
01:46the volume coming in was upward
01:48sentiment volume people buying based on
01:50Roaring Kitty and or on the Resurgence
01:53of belief in the meme trade but instead
01:55of awareness and publicity motivating
01:57more and more volume into the stock the
01:59last couple of days well it's actually
02:00been fizzling out pretty damn fast and I
02:02believe there's one key reason for this
02:04and that is the pre-market session that
02:06we had yesterday what happened then I
02:08believe the selloff right here was a
02:10throttle attempt from hedge funds and it
02:12worked pretty well by aggressively
02:14dupping shares in the pre-market they
02:15were able to stop the momentum from
02:17breaking out another day and going to a
02:19new all-time high if they waited a few
02:21more hours into open their attempts
02:23would have been broken up by trading
02:24halts but trading halts don't happen in
02:26the pre-market so it was open season for
02:28them to dump they likely attempted the
02:30same thing the day before during market
02:31open on Tuesday and and then that simply
02:35got bought up into the after hour so
02:36they realized okay wait we're going to
02:37have to dump in the pre-market so that
02:39there's no trading halts killing our
02:41efforts so I believe if you're looking
02:43at the data right now it seems pretty
02:44clear that hedge funds said okay if we
02:46want to kill new attention from
02:47converting into new volume and we want
02:49to stop that new volume from buying in
02:51and thus accelerating the momentum and
02:52enthusiasm well that means that we must
02:54dump now we must kill the uptrend now
02:57this is the last chance we might have
02:59and whether you agree with me on this
03:00Theory or not the truth is that they are
03:02still dumping and in fact new short
03:04sellers are coming out of the Woodworks
03:05by the minute to dump and bragging about
03:07this publicly if you are a hedge fund
03:09proudly shorting GameStop right now well
03:12one of two things must be true either
03:13one you're ignoring history that
03:14suggests that that just tends to piss
03:17off retail a lot more and cause you to
03:18get squeezed a lot more or or you
03:21believe that you and your buddies are
03:23all going to corate at the same time and
03:24continue to force the price down and it
03:26seems to be the latter is the reason why
03:28you're seeing a lot of these hedge Fones
03:29come out and start shorting well I
03:30believe that's a big reason why AMC's
03:32own dump yesterday even though it came
03:34on the grounds of massive massive share
03:36dilution wasn't nearly as bad as the gme
03:39one it's because short sellers are
03:40focused on gme they're not focused on
03:42AMC short sellers are worried about gme
03:44they're not worried about AMC why would
03:46they worry about AMC when Adam Aaron the
03:48CEO over there can't issue shares fast
03:50enough to help short sellers I believe
03:52that gme short sellers are much much
03:54much more worried and much much more
03:55focused on gme simply because they look
03:58at the long-term trend of gme they look
03:59at the balance sheet they look at the
04:00overall bigger picture and they see wait
04:02a second the board over there doesn't
04:04bail out its short sellers but the board
04:06at AMC bails them out again and again
04:08and again if there's any rally that
04:10could potentially hurt short sellers in
04:12AMC Well the CEO over at AMC Adam Aaron
04:15he's like yeah let's go ahead and dump
04:16some shares so that's why it was so
04:18important to kill gme's momentum this
04:20week hedge funds simply know that the
04:22best way to prevent a dynamite from
04:24detonating is to Simply pour water on
04:26the wick before the Fire gets to the end
04:27of said Dynamite and that's what I
04:29believe happened in the pre-market
04:30yesterday and it was very very effective
04:33if that fire wasn't put out we could
04:34have easily seen the momentum pick up
04:36and go exponential that day but instead
04:38you saw a huge Dow scene of momentum
04:41that continued into today and think
04:43about it this way folks two days ago if
04:44someone looked at gme it's momentum they
04:46looked at all the coverage everywhere
04:48they were thinking okay this looks like
04:49a buy bye byy the momentum is hot but
04:52now if someone is looking to buy into
04:53gme they might think oh okay this is
04:55just another one of those PPP and dump
04:57situations so what short sellers managed
04:59to do here was completely completely
05:01derail any of the uptick enthusiasm
05:04before it even reached Peak enthusiasm
05:06of the people that are enthusiastic and
05:08buy stocks like gme there's some that
05:10are very very much dieh hard Buy and
05:12Hold at any price but there's a lot of
05:13other ones that quite simply just want
05:15to buy make a profit and get out and
05:17when all of a sudden you've just dowed
05:19the momentum well those people that are
05:21kind of in the middle are like well we
05:23don't want to be a part of this dump
05:24situation we don't want to catch a
05:26falling knife and so all of a sudden
05:28you've killed the momentum before any
05:29kind of confidence can be rebuilt up in
05:31the stock and folks that's why I believe
05:33you've seen two consecutive down days in
05:34the stock so the question now is will
05:36there be a Resurgence or not well I
05:38believe there's a huge chance there will
05:39be simply because the short squeeze
05:41setup is so hot and the battle is so
05:44ripe short sellers may have won this
05:45battle but I believe the bigger war is
05:47still on and if you look at the bigger
05:48picture I mean this week wasn't in
05:49isolation if you look at Jim's volume
05:52just this week it looks like it's going
05:53down but if you look at it in the leadup
05:55to this week it was actually
05:56aggressively breaking out so the kitty
05:58tweet didn't actually start the
06:00Resurgence of gme it just simply lit the
06:03spark to the dynamite that was already
06:05being built which means that this
06:07current cool down is likely just a push
06:09back in an overall momentum Trend one
06:11that will just continue to get bought up
06:13very soon and folks there's a few
06:15different interpretations of why volume
06:17might have been increasing before one is
06:19that the Divergence between the short
06:20interest and the price was just so
06:22severe that it was incentivizing people
06:24to start accumulating there's also
06:26another increasingly popular theory that
06:27some hedge funds and institutional
06:29players were coordinating and buying
06:30slowly accumulating to later offload
06:33when gme eventually broke out we already
06:35know for a fact that hedge funds do not
06:36all play on the same side and in fact we
06:38know now that a hedge fund bought about
06:40a million shares right before the
06:41Stock's 400% run and right before all of
06:43the Roaring Kitty tweets now what about
06:46roaring Kitty did he possibly tell
06:48someone in the hedge fund world that he
06:50was about to post again on Twitter
06:51before he actually did allowing them to
06:53slowly accumulate chairs prior to the
06:56pumps truth is I've watched a ton of his
06:57videos he seems like a pretty nice guy
06:59and perhaps maybe he just picked up on a
07:01ripe setup that the rest of the markets
07:03picked up on too and wanted to drive
07:04attention to it perhaps that's what
07:06happened and even if he didn't tell
07:07hedge funds well he may have just simply
07:09told other people in the financial space
07:10I mean some folks like famous penny
07:12stock promoter Zach Morris on Twitter
07:13seemed to know about this as early as
07:15last week well before roaring Kitty
07:18posted about it Zach Morris posted a
07:19blue version of what roaring Kitty
07:21posted days before roaring Kitty posted
07:23it so I mean it could all just be a big
07:25coincidence but it does seem like there
07:27is some evidence that suggests that
07:28there are different scenarios that could
07:30have played out before roaring Kitty
07:32actually tweeted that and because he
07:33hasn't answered anybody on what happened
07:35and why he chose that dime we just have
07:37to speculate Mr Warren Kitty might also
07:39have sold his Twitter and these tweets
07:40may not even be him so who knows we may
07:42never know and innocent until proven
07:44guilty but my thought process is whether
07:46or not there was a coordinated buying of
07:48gme before roring Kitty's tweets or if
07:50people just all came to the same
07:51conclusion over the last week and
07:53roaring Kitty's tweet woke the rest of
07:55the markets up the truth is that the
07:56setup is still ripe should we get
07:58another wave of volume upward right now
08:00gme is like a gas station covered in
08:02gasoline that just needs someone to
08:03light a match and I believe that within
08:05the next week or two you'll see someone
08:07light that match anyways let us know
08:08your thoughts down below do you see gme
08:10as going back up again or do you think
08:11the whole meme trade is over let us know
08:13your thoughts down below we love hearing
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08:29up trending day those ran from about
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08:59always have a great rest of your day and
09:00we'll see you in the next video
