The hedge fund fukkery has gotten old but at least we found out today that we have some good support built up at 52.30 since we had a double bottom there and didn’t crash through.
This whole situation is really such a mindfukk though. The hedge fund strategy just doesn’t make sense. It’s the definition of trying to dig your way out of a hole. Nobody is selling and their shorting is just making more buying opportunities and ensuring they’ll have to pay more people with fake shares more money when they cover. And these dips and mind games are in reality just training the people that they want to sell on how to remain calm during volatility thereby decreasing the likelihood that they will sell due to panic and increasing the likelihood of rage-holding
This is pure insanity. Citadel is the Final Boss and has crazy resources but I can’t understand why any of the smaller hedge funds with short positions haven’t closed their positions to save their own necks.