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How We Gained 250% in GameStop (GME)

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How We Gained 250% in GameStop (GME)

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.



Source: http://midasletter.com/2021/01/how-we-gained-250-in-gamestop-gme/


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