GameStop Corp. (NYSE:GME) massive move from last week to today has been the talk of the Wall Street and online trading group towns. A short squeeze set the stock to rally up to a high of $145.59, an incredible 238% since last Thursday. Based on momentum indicators, the Wealthpress team was able to foresee the run and recommend their subscribers to most of those gains.
Chasing the stocks that make these huge parabolic moves is not a sustainable strategy, however.
Finding value with a longer-term horizon while understanding momentum and shorter-term trading is always your best bet. Don’t chase stocks that are up huge because of the fear of missing out (FOMO) and get stuck holding the bag as stock prices oscillate violently. GameStop for example has been up to $145.59 and down to below $62 within the last hour of writing this.
As Jeff Zananiri says you would “rather have a racehorse you have to reign in, than a donkey you have to kick in the a**.”
Watch the full interview to see our trading and risk mitigation strategies.
Original article: How We Gained 250% in GameStop (GME)
©2021 Midas Letter. All Rights Reserved.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.