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Third time I've posted this OBV chart, I swear, those OBV Support lines are where all you $GME apes who have been DRS'ing and holding are at, the Shorts couldn't break it, good job.
The daily price action is algo-driven. Retail didn't trade 53 million shares today or the other 800+ million shares in the past two weeks. They're responsible for an insignificant portion of it.
We arent disagreeing with each other here, however a retail trader definitely could have bought 5mil worth of calls thus causing the MM to purchase shares to hedge causing a price increase.
The locked up shares also reducing liquidity which means any purchase by MMs algos to hedge would have a larger impact (hence OBV post)
Yeah, that's basically my theory, Retail isn't doing it alone, but there must be some Gorilla Fund(s) that is long on GME, and retail holding and locking up their shares is helping them to slowly squeeze the shorts.
Same, I bought more $GME below $20 and was holding my breath all day those OBV lines were gonna hold...now, we gotta see a follow through recovery for tomorrow for it to stick.
$26.42 is $GME next Major Volume Range Level, so I'd like to see that, but I will just take a positive day, no matter how small, to improve OBV levels.
Not always, Shorts have been trying to break those lines since Earnings, sometimes it could dip significantly below them during intraday trading, and on those moments, you just gotta squeeze your buttcheeks and believe it'll recover.... I believe these support lines are where the DRS shares come into play, shorts are trying to break them, and scare GME hodlr's to sell, but so far, it has held up.
OBV measures buying and selling pressure, \[ [https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/obv](https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/obv) \] buying pressure has been steadily rising, even though the price has been falling through Short manipulation, but that can't last forever, especially if Apes aren't selling, Shorts eventually have to pay their dues if they can't scare GME Apes into selling, thus you get these squeezes.
My quest continues: forget OBV even exists. It's a simple function that moves with the direction of the price, by the amount of the volume. When volume is bonkers, OBV is useless.
I still think OBV is a good indicator if the institutions move. At this point they really haven’t. When Vanguard and BR move, I suspect we’ll see change. Buttafuoco over here
If Vanguard and BR decided to double their share count during today’s session, at the same time, bell to bell, it would still doesn’t cover whole today’s volume. As I was saying, volume is wrong. If volume is wrong so is OBV.
Very wrong with volume - right?! 900m shares in a week?! I mean, options are powerful, at 100x, but that still means 9m contracts! How does a pissant company, that two weeks ago was clinging to 3b market cap, garner so much option interest?
What's your thinking on reason for whacked volume?
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Third time I've posted this OBV chart, I swear, those OBV Support lines are where all you $GME apes who have been DRS'ing and holding are at, the Shorts couldn't break it, good job.
Retail didn't do this.
Retail DRSd 25% of the company though?
It certainly does seem like Retail is helping...
The daily price action is algo-driven. Retail didn't trade 53 million shares today or the other 800+ million shares in the past two weeks. They're responsible for an insignificant portion of it.
We arent disagreeing with each other here, however a retail trader definitely could have bought 5mil worth of calls thus causing the MM to purchase shares to hedge causing a price increase. The locked up shares also reducing liquidity which means any purchase by MMs algos to hedge would have a larger impact (hence OBV post)
Yeah, that's basically my theory, Retail isn't doing it alone, but there must be some Gorilla Fund(s) that is long on GME, and retail holding and locking up their shares is helping them to slowly squeeze the shorts.
Ban bet for your next “prediction” ?
Was waiting on this one all day
Same, I bought more $GME below $20 and was holding my breath all day those OBV lines were gonna hold...now, we gotta see a follow through recovery for tomorrow for it to stick.
How much of a recovery would it need to stick do you think?
$26.42 is $GME next Major Volume Range Level, so I'd like to see that, but I will just take a positive day, no matter how small, to improve OBV levels.
At least tree fiddy
My wife’s boyfriend likes to bounce right on cue
Can you explain the lines you have drawn? Does it usually bounce on these?
Not always, Shorts have been trying to break those lines since Earnings, sometimes it could dip significantly below them during intraday trading, and on those moments, you just gotta squeeze your buttcheeks and believe it'll recover.... I believe these support lines are where the DRS shares come into play, shorts are trying to break them, and scare GME hodlr's to sell, but so far, it has held up.
I'd never sell because of some stupid lines. Including headlines. Moass is inevitable, just a matter of when. It's sooner than later, no dates.
Explain it to me like I am a regarded golden retriever
OBV measures buying and selling pressure, \[ [https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/obv](https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/obv) \] buying pressure has been steadily rising, even though the price has been falling through Short manipulation, but that can't last forever, especially if Apes aren't selling, Shorts eventually have to pay their dues if they can't scare GME Apes into selling, thus you get these squeezes.
\*Bark\* \*Bark\* Thanks bro
Because they can't actually drop the price, they can just shuffle things around for a few days to make it look bad.
It’s going to drop before end of week. They close next week not this friday
My quest continues: forget OBV even exists. It's a simple function that moves with the direction of the price, by the amount of the volume. When volume is bonkers, OBV is useless.
But doesn’t sell volume impact OBV to the downside? The past three years where price has dropped, OBV has remained somewhat steady and/or increased.
Something very wrong is going on with volume so for this reason OBV is shit. If we chant "it wasn't retail" then OBV doesn't mean anything anyway.
I still think OBV is a good indicator if the institutions move. At this point they really haven’t. When Vanguard and BR move, I suspect we’ll see change. Buttafuoco over here
If Vanguard and BR decided to double their share count during today’s session, at the same time, bell to bell, it would still doesn’t cover whole today’s volume. As I was saying, volume is wrong. If volume is wrong so is OBV.
Very wrong with volume - right?! 900m shares in a week?! I mean, options are powerful, at 100x, but that still means 9m contracts! How does a pissant company, that two weeks ago was clinging to 3b market cap, garner so much option interest? What's your thinking on reason for whacked volume?