Did Retail Really Make GME Rally? Or where there others behind the trade?


Armstrong Economics Blog/Q&A Re-Posted Feb 4, 2021 by Martin Armstrong

QUESTION: You seem to think that the Reddit people were just lucky. Is this the dawn of the little guy beating Wall Street?

GU

ANSWER: Look, this is our Global Market Watch for GME on a Quarterly Basis. The major low took place during the 2nd quarter of 2020. This is a pattern recognition model and while it picked the decline and the rally, most professionals trade technically. I cannot imagine any program that would have been calling for a short position even if you used a simple stochastic. Any technical trader would have been long. I highly doubt that this was simply novice retail people who crated this push. It has all the hallmarks of a professional manipulation and if the SEC does not investigate, you know that means the real hands in the cookie jar are behind the curtain.

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