Thanks to those of you who joined us for the Monday Market Update. I was asked by several sources to explain the events of last week regarding $GME, RobinHood, Melvin Capital, reddit, and WallStreetbets.
Well I gave it a shot, I caveat it that its not my area of expertise in any sense of the word. I don't consider myself an equities specialist, and for good-reason because for years Ive been telling people its a murky, opaque battlefield that operates on news flow, and that retail traders are at the bottom of the information food-chain.
Any mistakes or omissions are my fault and I apologise - (for example I forgot to talk about the Gamma Squeeze that occurred as part of the overall short squeeze) it was merely trying to explain the events in broad terms for a generic audience, there is plenty of detailed news flow out there.
The main take-away is that if you've done well out of these moves then well-done you! Never forget to manage risk, and maybe take a bit off the table. Yes, there will be more shenanigans this week, just be careful, manage risk, and watch out that you don't get overwhelmed by greed.