Is the Meme Stock Plays Coming Back? — Transcript

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1. 0:00[Music]
2. 0:00[Applause]
3. 0:00[Music]
4. 0:00[Applause]
5. 0:03hello guys steo here and welcome to this
6. 0:05video So today we're going to talk about
7. 0:07the plays that happened last week and
8. 0:10what can we focus on um to make some
9. 0:12profits in terms of uh shorting gme MMC
10. 0:17and all other meme stocks and also uh
11. 0:19the general look on the overall Market
12. 0:22of what should we try to be careful with
13. 0:24uh because tons of players are kind of
14. 0:26coting with overall market and what
15. 0:28tickers are not by the way I have our
16. 0:30conference coming in in July uh in
17. 0:32California Iran so if you're interested
18. 0:34and wants to come in and share your
19. 0:36experience in this community or also
20. 0:38want to listen me talking about the
21. 0:40performance that I did all the trades
22. 0:42that I did in the last year uh 2021 I
23. 0:44will leave a link below and uh for you
24. 0:47to register so uh before I start this
25. 0:49video make sure to click the like button
26. 0:50and subscribe let's get into the video
27. 0:52today uh let's go over gme and AMC so
28. 0:56this one will be the main focus next
29. 0:58week take one from 90 150 so overall
30. 1:01it's only about 60% Gish from the bottom
31. 1:05and not enough risk award from shorting
32. 1:09so there's tons of consolidations
33. 1:10between you can see right here between
34. 1:13100 to 1006
35. 1:15during Friday the stock did not uh break
36. 1:21down of this 120 area and you can kind
37. 1:25of tell that if uh there's massive
38. 1:28support around 106 100ish there's only
39. 1:31maybe $10 to drop so maximum drops to
40. 1:35115 overall uh risk world is not that
41. 1:38good uh and the market is uh recovering
42. 1:42pretty strong in terms of uh SP so you
43. 1:47can kind of tell in the last couple
44. 1:49weeks gme is following SPI and q's uh
45. 1:54not until this bare Market rally is over
46. 1:57we won't see um any significant
47. 2:00pullbacks on gme and AMC so let's look
48. 2:03at AMC same thing not as overreacted as
49. 2:06gme only went up uh
50. 2:1140% and uh this is heavily beat down so
51. 2:15um we might see some decent amount of
52. 2:17squeeze up into the 27 or the 25ish that
53. 2:22would be a solid resistance to short
54. 2:24into same thing goes into uh gme I
55. 2:27wouldn't be shorting this until probably
56. 2:30hits into the 170 area which will
57. 2:34be uh right about here you can see
58. 2:37there's tons of volume traded between
59. 2:39180 to
60. 2:41170ish so uh we might have a solid
61. 2:44chance that this could get to the 170s
62. 2:48before you know crazy good shorting
63. 2:51opportunities so we'll see I think if
64. 2:54gme is following the overall market then
65. 2:57there's decent amount of rooms for this
66. 2:59try to continue to bounce into the 430
67. 3:02440 area as soon as this starts to
68. 3:05consolidate that's probably the time of
69. 3:07me starting shorting gme but uh uh
70. 3:11that's for the meme stocks on on those
71. 3:13two tickers I wouldn't be trying to go
72. 3:15long to gain extra 10% 20% so not enough
73. 3:20reward for going into the long position
74. 3:24let's talk about si8 so this is the
75. 3:28monkey pox
76. 3:30uh vaccine company ran up three days and
77. 3:34pulled significantly uh ran up again
78. 3:37into the resistance
79. 3:39around 14 area
80. 3:42but uh normally when you see these type
81. 3:44of tiers that they ran into resistance
82. 3:47but it doesn't have a solid
83. 3:48consolidation so this is where it traps
84. 3:50a lot of people in terms of uh shorting
85. 3:52into
86. 3:53resistance so started bouncing around
87. 3:56eight bounced up to 14 so it's gain
88. 3:59about extra 70
89. 4:0180% not 100% yet and there's no solid
90. 4:05resistance up in that area so this could
91. 4:07definitely uh spike in the next week uh
92. 4:10I would assume that this will be a solid
93. 4:13short if the market cap is around 1
94. 4:15billion this will be a solid short if it
95. 4:17trades around 100 million shares up into
96. 4:2017 to 20 or 20 to 30 area so it needs to
97. 4:24gain another I'll say 100% breakout of
98. 4:28the 17 and
99. 4:30and I mean for solid short so that will
100. 4:33be all the tickers that happened last
101. 4:35week uh not too much going on pretty
102. 4:37much everything is following the market
103. 4:40uh even the meme stocks as well uh
104. 4:42interestingly that I don't know about
105. 4:44Bitcoin that much it's a very highly
106. 4:47speculative play the Bitcoin
107. 4:50surprisingly is not following the market
108. 4:52bounds so I wouldn't be too optimistic
109. 4:55about Bitcoin coming back all the way to
110. 4:58above 40,000 uh I think we're in a
111. 5:01season that the market is trying to
112. 5:03flush out all of the D money in the
113. 5:05market and the retailers so I will be
114. 5:08really careful with even in the market
115. 5:10or L all those potential meme stocks so
116. 5:13these can get destroyed instantly
117. 5:16without even forming any type of
118. 5:17resistance so that will be end of this
119. 5:19video uh if you have any questions
120. 5:20please leave a comment below and other
121. 5:23than that thank you very much for
122. 5:24watching I will see you guys in the next
123. 5:28one