GameStop Corporation (NYSE:GME)

Stock Watch December 6th, 2019

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  • DrScience: $GME I think they're just messin' with the bears. Game Stop to turn stores into Gaming Venues where millenials go to watch "professionals" play video games. JSMH But... Crazier schemes have made their inventors rich.
  • bRobert: @DrScience $GME $GM too
  • DrScience: $GME stock is HTB. Trying to gather the herd for a 2nd bull run attempt after the 1st failed get a short squeeze stampede started. Stock is still up 3.5% from Friday's close. Entry @ 3.95 with stop below 3.90, gets you in the game. Price alert at 4.10 for an add.
  • DrScience: ...
    And, because there's always an exception to the rule, Brick & Mortar $GME Gamestop, which showed some gumption to start the year, has fallen below December's lows and could be headed back to the basement. Stock is HTB, so any good news from the ...
  • Herb: $GME bought a little at 4.79. Tight stop.
  • scottrades: $GME Down afterhours on low guidance. Might give us a snapback trade tomorrow.
  • Tango: @scottrades $GME Thanks for the heads up!
  • Tango: $GME Watching for upward turn
  • geotheo: Some #short news I saw that was interesting. Some I've seen & remember in the forum, $PTON, $CRWD, $MTCH, and $BBBY The list of stocks trading with short interest accounting for more than 40% of total float includes Peloton Interactive ($PTON), Gogo ($GOGO), Shoe Carnival ($SCVL), AMC Entertainment ($AMC), Match Group ($MTCH), Crowdstrike ($CRWD), Bed Bath & Beyond ($BBBY), National Beverage ($FIZZ) and Stitch Fix ($SFIX). Then there is the curious case of GameStop ($GME). The company's 10-Q filed a few days ago revealed 65.9M shares outstanding vs. 67.2M shares sold short as of November 29.
  • Herb: @geotheo $PTON $CRWD $MTCH $BBBY $GOGO $SCVL $AMC $FIZZ $SFIX $GME #short Thanks Geo
  • DAN: 59-MTs -- I see you guys talking about $PLCE as a potential trade. Here are others: $AEO $OLLI $GME
  • DAN: $GME -- long
  • Herb: $GME bot a little Michael Burry at 5.44
  • sierramp: @DAN $GME Do you have a stop on this or a point at which you would exit this long trade?
  • Amykris: @sierramp $GME The stop is probably just below the intraday low of the day. if it breaks that level, probably need to sell
  • CraigReynolds: @DAN $GME Scary, they missed so badly their earnings. For short trade, maybe.
  • DAN: @sierramp $GME I have an alert set at 5.50, and another one set at 5.70. That allows me to keep track of the stock without getting distracted. When one of those alerts is triggered, I'll look at the stock again. Right now, no stop.
  • sierramp: @DAN $GME That's a great way to do it. I don't like watching the ticks. Thanks.
  • DAN: @CraigReynolds $GME Oh, I'm just trading the order flow, not the fundamentals. Earnings results don't matter. I'll be out before this morning's webinar. Win, lose or draw.
  • phgruver: Time stop on $GME. It's just trading sideways. I made 4 cents. Thank goodness for $0 commissions....
  • sierramp: @phgruver $GME I also got out with 4¢ which I was happy to have. Taught me a lesson. I scaled my position size way back for this but it was still too high for my comfort level and found myself watching the ticks. It just dropped to 5.30 and immediately went to 5.60. I don't have the temperament for this. The 59 min trade last week on $SAGE was much more comfortable for me.
  • yongli: @DAN $GME what make you take this trade ? swing trade ?
  • Herb: $GME stopped out. Lost $5. Whatever. . . . .
  • phgruver: @yongli $GME Not @Dan, but it was an oversold bounce 59-minute trade. It did bounce, but not as much as we had hoped. The trade was over when it fell below the VWAP at 10:21. I made a whopping $.04/share. I could have traded it a little better....
  • debeers: @DAN $PLCE $AEO $OLLI $GME @DAN-bRobert, jimmy, and i were really talking about how sad it was that this stock never adapted to possible tariffs because it tried to move its stuff out of China after the more astute companies had already done so. Additiona;lly it is mall based and formastting itself after JCP not the succesful retailers that are destination places and have utilized Vietnam, Maylasia and . No interedst hikes will be a boon to the good companies and especially the auto dealers.& shoe co.'s.
  • indigo1948: $GME - getting punished after earnings.
  • baronp0329: GameStop being spanked After Hours $GME reports earnings: Net sales: $1.38 billion; decrease of 25.7% Diluted loss per share of $1.02
  • DrScience: @baronp0329 $GME They're still fighting a video game Amazon model with Mall stores. It is a losing battle.
  • baronp0329: @DrScience $GME Totally agree Doc! Friend mentioned possible near term resistance at the 6.60 200d. Wanted to short but HTB or get some Puts but not with Earnings after the close.
  • Reif99: @DrScience $GME Conf call in a half hour - see if anything changes
  • antfarm: $GME At the 200dma. Looking to add on a push above.
  • indigo1948: @antfarm $GME - earnings on 12/10. Long with a substantial position.
  • antfarm: @indigo1948 $GME Yes Have a reminder on my calendar.
  • Tango: $GME Looks like a perfect c&h on the INTRAday chart... don’t know if that counts
  • Tango: $GME at resistance
  • Tango: @Tango $GME Clash of the Dumpster Titans!
  • indigo1948: @Tango $GME - Michael Burry took a very large position on this one.
  • Tango: @indigo1948 $GME it’s breaking through for the moment
  • DAN: ...
    $GME -- Breaking out of a pivot on high volume. This looks like it’s going higher...but earnings on 12/10.
  • djmurph: $GME Up 5.5% today and bumping up against resistance.
  • DAN: ...
    $GME - earnings 12/10. Covered this at $4.00 (Michael Burry said it was waaay undervalued). Alert $6.68
    $SPGI -- Stop below $260.
    $ALLK -- Might be acquired. Can’t buy now...sold last week. Arrrrgggh!
  • Henry: #E_sports $EA $ACTV $GME I am not the demographic for games nor e-sports. Like them or not, there is a secular movement toward this sort of entertainment, meaning there is money to be made 200 Colleges offer scholarships on E sports, NBC has televised a couple electronic car races. CNBC had a couple talking heads on yesterday who mention the growth of Virtual Reality. Does anyone have an informed long term opinion on these stocks?
  • DAN: ...
    $GME -- Michael Burry’s stock below $4.00. Note how it is trending along the 8-day EMA.
    Growth Stocks:
    $CPRT -- Acting naturally. Finding a range above $83.
    $EDU -- Didn’t pull back much for a lower entry.
    $IBP -- has much more room ...
  • Nepenthe: $GME $KMI The former rising again today. High short interest, to say the least. Spec stock, stop below 8ema. Last two days spiked, only to sell off a bit. $KMI Got back in after earnings--thanks Champ and others--and looking to add, as it seems to have broken the daily downward trend line of lower highs, back above the 50ma, though with the 100ma overhead, for what that's worth. Oh, and I took the $ULTA spec trade also before you and jimmy mentioned it, so a bit of confirmation from the more advanced member helps as always. That's it. Cheers.
  • Herb: @Nepenthe $GME $KMI $ULTA heard that $GME was Michael Burris' favorite pick. He was the smartest guy in "The Big Short"
  • Nepenthe: @Herb $GME $KMI $ULTA Yes, I heard that quite awhile ago. I've been trading around this since the mid-3's, so return is quite substantial. Only wish I'd been more aggressive with amounts. Wondering if the 200ma is a realistic endeavor. Cheers.
  • Nepenthe: $GME Has been a little gem. Have cut back positions as it reached the upper BB's and will add back if it breaks above 5.90 or so; did break above 5.81, it's previous high. Could, perhaps, then run up to the 200ma. Who knows. Cheers.
  • phojes10: @Robert1965 /$GME Bought a small pilot position at 5.31. Tight stop though with this market and well above the 50-day.
  • efrain007: $GME holding the 8ema
  • DAN: $GME -- Breaking above yesterday's intraday high.
  • DAN: $GME -- Michael Burry's pick is working pretty well.
  • DAN: ...
    $GME -- Consolidating now.
    $IGV -- was strong. Now...not so much.
    $SNPS -- Just waiting for my ride.
    $ANSS -- Top at $220.
    $RCII -- Working on a breakout. So far...not seeing it.
    $SERV -- Also working on a breakout. Bottom of base still being bui ...
  • jonwest88: @DAN $KO $BA $PG $SPX $NDX $MTUM $CPRT $ESNT $FND $HXL $STNE $TWTR $DELL $TSLA $NIO $AUDC $PLMR $MSFT $GME $IGV $SNPS $ANSS $RCII $SERV $LGIH $ELF $SHOP $AMZN Where was the stop price listed for STNE? I looked through what I thought were all the post since it was first put on the GSL. 2) Where can we access the price when each stock is put on the GSL, and where are the stops listed? If they are hidden somewhere in one of the hundreds of post on the forum, I cannot sift through the forum all day long looking for a quick update. BTW, wouldn't you email the members when stop or buy is hit? We did get an outdated alert on SHOP today which you, Dan, quickly corrected. Thank you
  • Tango: $GME Swung for 13.38% gain on this dumpster diver!
  • Nepenthe: @Tango $GME Sold 3/4, holding some; massive short interest (60%?), and wondering how much higher it can go; 100ma looms closely overhead but the 200ma is 40% above current price. Don't want to get greedy, but with cost basis minimally low now, what to do, what to do...cheers.
  • Tango: $GME Successful dumpster dive
  • bRobert: @Herb $WDC Thx . I am aware. He is also long $GME and short $Z . among others
  • infocus: $GME STO Sep 13 2019 3.5 Puts @.12 BTC @.02 No Commission 3 day scalp. Thanks @GOOSE for the idea.
  • Nepenthe: $GME Back in with small position. Stop below today's low. Lousy as a louse earnings, but who knows...
  • Egmagur: @Nepenthe $GME If I understand Burry's argument correctly, it is that the company has available cash on hand to essentially retire the float. It is a valuation play, certainly not an earnings play although the company continues to make money. Long $4 LEAPs.
  • Nepenthe: @Egmagur $GME Duly noted. Thank you for that.
  • antfarm: $GME Picked up a starter at 4.40 on the dip below the pivot line.
  • DAN: ...
    $GME -- earnings. Could be a buy for you dumpster divers. Stop below $3.95
    $INMD -- close to breaking out. Moved to new high today.
    $ZM -- oversold bounce. Wouldn’t call this a “swing trade.” I’d just call it a special t ...
  • GOOSE: #Having a hectic morning personally and stock wise, so I'm tardy, ;>), in posting. $OSTK BTO STOCK @20.71 & 21.14 $OSTK STO 9/13/19 21.0 CALLS @.90 & .60 $OSTK STO 9/13/19 21.5 CALLS @.55 $OSTK STO 9/20/19 21.5 CALLS @ 1.02 $OSTK STO 9/20/19 22.0 CALLS @.90 $GOOS BTO STOCK @41.23 & 41.36 $CLDR BTO STOCK @9.13 $GME BTC 9/13/19 got out + or - a dime. Earnings tonight.
  • shoredriver: $GME.....Bigly losses...down
  • Nepenthe: $GME Short squeeze? Over 50% short? Earnings tomorrow after close. Sold some, and maybe, oh but maybe, will hold a tiny bit over. Cheers.
  • traderbren: $GME - continues to leg higher...since @Dan mentioned it a while ago.
  • CraigReynolds: @GOOSE $GME Earnings after close tomorrow if you did not know.
  • GOOSE: $GME OOPS, Tomorrow is earnings A.M., so I will be out of the trade before. Sorry.
  • DAN: @traderbren $GME A Michael Burry pick.
  • GOOSE: @CraigReynolds $GME HA, HA, I was just editing my post to that effect. Ya it was an oversight. Thank you. G
  • GOOSE: A TRADE: Thanks to @traderbren for mentioning this old, old favorite of mine, for option trading. Earnings tomorrow. I will be out of the trade. Sorry. EDIT: $GME STO 9/13/19 4.5 PUTS @.44
  • Sluggo: @GOOSE $GME $GSHD Nice chart in consolidation waiting for breakout. Yeah, I said GOOSEHEAD. ;-)
  • DAN: ...
    $GME -- finally breaking out above 50-day MA. Earnings due tomorrow.
    $VEEV -- This is why you must have stops. This would be shortable AFTER it rebounds and tests $155.
    $RGEN -- Not all stocks break out to the upside.
    $ZM -- when it break ...
  • DAN: $GME -- Hey Gang. Take note of Gamestop. This is a stock that's just been crushed over the past few years. It's a brick and mortar retailer of video games, which is a bit like the buggy whip industry. Horses are still around. But other than Amis ...
  • Rickg: $GME Didn't they go bankrupt a few years ago?
  • gvianello: @DAN $GME how can it be possible that institutions own 95%?
  • DAN: @gvianello $GME Oh, I don't know. I'm not advocating to buy the stock. Just wanted to mention it. But a 95% ownership by funds is not necessarily a bad thing. That means that the effective float (available number of shares for trading) would be pretty low. The way you'd know whether institutions are selling or continuing to hold is to just watch the chart. If they're not selling, the stock will move higher. If they are selling, the stock will continue to trade sideways or fall lower.
  • Geewhiz: @DAN $GME This sounds similar to Smart Guy Eddie Lampert who bought SHLD aka Sears Holding. Money was made but a lot was lost. Caution and stops as always are warranted.
  • Tango: $GME Nice day in the neighborhood for Gamestop
  • Egmagur: @Tango $GME starting to add with a tight tight stop. gonna be hard for all these shorts to unwind if panic sets in on the buy side
  • Tango: $GME working! If I close, it will be first successful trade. But, I want to swing it?
  • indigo1948: @Tango $GME -entered and closed it for a quick profit that was very nice. Thank you Michael Burry.
  • debeers: @Tango $GME -TT the really good traders here like bRobert. I don't qualify as i'm an investor.
  • Gary: ...
    $GME - Be careful here. Lots of supply and people used today to sell.
    $NVT - You want to see this hold above 20.42
    $TLRA - Nice Hourly Flag but use a stop below today’s LOD because there’s a seller overhead.
    $ARWR - Wait for it to com ...
  • Tango: @CraigReynolds $GME was up in the extended session.
  • DrScience: #Gamers $TTWO pullback to the 8 EMA could be a safe place to take a small position, but with the rest of the cohort mired in congestion, I'd wait for a test of the 20 DMA. $GME falling to a new 52-week low, only $3.32 above the ultimate low.
  • rachel: ...
    $PLAY -- $40 floor. Consider 2nd day snapback. (Looking for $GME type trade).
    $LULU – earnings beat
    $RH – Earnings beat
    $BEAT – watching for an upside move. Added this to GSL in Feb. This chart illustrates the merits of having ...
  • Henry: $GME moving up long
  • 86944T: $GME. Still selling off.
  • CraigReynolds: @Dan Not sure if this question has simple answer, know it;s math and buyers/sellers, just trying to understand. If stocks like $GME $PVTL fall below 4BB day 1, then day 2 trade at bottom without much price movement, but now they are at 3BB instead of 4BB, same stock movement as day 1, little price movement, then day 3 at they are at 2.5BB, still trading in low price range, how does one understand what is going on with no snap back watching BB. I'm assume no buyers wanting stock as stock works its way back within normal band width and price would stay around that level until supply is absorbed and stock is dead until that happens.
  • Ringo: $gme - I am in this after broker out $5.15. I hope I can do make some $$ today
  • petros06: @Ringo $gme I'm with ya, tight stop
  • jgg8387: @Ringo $GME I also took a small position in this at 5.14. I know it might just be lunch time, but I will use a tight stop and maybe add if it goes through R1. joe-
  • Remington: @DAN $ILMN question, would you have taken the $GME trade this late in day if it hit your setup? I struggle with intraday trades that didn't work first thing in am
  • CraigReynolds: @Remington $ILMN $GME Trying to figure that out myself. Bought small yesterday swing into today, now that position is up a little. Thinking about adding but this stock without much movement 3 days ago was below 4BB. Yesterday below 3BB without much movement in price. Today below 2.5BB . Just don't under BB. Know it's the math, buyers/seller/supply.demand.
  • CraigReynolds: $GME $PVTL $CCXI Watching yesterday Dan's 59min possiblities.
  • DAN: @CraigReynolds $GME $PVTL $CCXI Hey Craig. Looks like GME has found a bottom. This will probably be good for an overnight hold. Not sure what the upside would be, all things considered. But $5 bucks looks like a pretty reliable floor. $PVTL -- same type of deal. $CCXI is a bit tougher to gauge. The move was yesterday morning. Now it's just on a very wide "inside day."
  • CraigReynolds: @DAN $GME $PVTL $CCXI Thanks. GME & PVTL down big time and under 3BB in some cases, still are. These are spec trades, bought $GME @ $4.91 w/ stop $4.80, risk $.11. Bought $PVTI - $10.70; stop $10.45 risk $.35. I traded $CCXI yesterday, made 3.9%. Sold CCXI at close, did not swing. Bought back today at $8.40 with stop set at $8.15, risk $.25. Total risking $.70, will see how they will work out. Right now, I'm up may risk money and planning to swing. Not sure if this will work out but stops set, risk $.70. I bought small, $GME -- 200 share $PVTL -- 100 shares $CCXI -- 100 shares. Let me know if you see anything wrong. Not sure what tomorrow will bring, just watching the Bands.
  • baronp0329: @CraigReynolds $GME $PVTL $CCXI $PVTI Craig, you may want to look at $CLDR also. Way below 3BB. Started a position at 5.12 and will hold overnight. Stop set at 4.97.
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Stock Price $USD 4.18
Change 1.21%
Volume 2,368,090

Gamestop Corp is a multichannel video game retailer. It sells new and pre-owned video game hardware, physical and digital video game software, accessories, as well as PC entertainment software, new and pre-owned mobile and consumer electronics products.

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