"GameStonk" Lunacy: Is Speculative Fervor Reaching Epic Proportions?( w/ Tommy Thornton & Ash B)

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 26 January 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Jan26,2021: Senior editor Ash Bennington hosts Tommy Thornton of Hedge Fund Telemetry to break down a day of absurd price action as GameStop skyrocketed 90% today and zoomed an additional 46% during afterhours trading. Tommy and Ash reflect on the shrewd yet reckless speculations of the r/wallstreetbets traders, who pushed hedge funds that were short GameStop like Melvin Capital to the brink, with Tommy noting that this intentional targeting of shorts triggered a record day of long/short degrossing. Turning to technical indicators, Tommy comments on the buying exhaustion he is seeing via DeMARK indicators, saying “this is a bubble that I think could pop at any moment.” He recommends “ringing the register” on successful trades and turning to cash. Tommy closes by giving Ash a long idea: Zynga Inc ($ZNGA). In the intro, Real Vision’s Haley Draznin makes sense of the market as company earnings reports take center stage and wild swings resume on heavily shorted stocks. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	All right. I'm Jack Grealish. I think you can listen to music from relaxing to
0:05.4	celebrating to getting yourself prepared. I like all sorts honestly I like hip-hop-ar and
0:11.1	beer and then house music as well so yeah there's no guilty
0:14.5	around here. Jack wears the Bose Quiet Comfort Ultra headphones enjoying his
0:19.4	favorite music with more immersive sound than ever before.
0:23.0	Wow, the music's just everything, isn't it?
0:25.0	Get yours at bows.co.uk.
0:28.0	Bose, sound is power. Welcome to Real Vision.
0:33.0	It's Tuesday, January 26, 2021, just after market close in New York.
0:49.0	This is the Real Vision Daily Briefing.
0:52.0	I'm Ash Bennington, joined shortly by Hedge Fund Telemetry's
0:55.2	Tom Thornton, but first with the day's stories, Haley Drasnan.
0:59.8	Hey Ash, markets were relatively flat on Tuesday Tuesday the S&P 500 pulled back from its record
1:05.9	intraday high.
1:07.4	It's an earnings pack day.
1:09.1	Larger companies with an impact on all indices supported the market today.
1:13.2	And we have earnings reports from Microsoft,
1:15.6	which we'll see after the close.
1:17.5	GE though, flashing a buy signal,
1:19.8	their shares jumped today
1:21.1	after their industrial free cash flow came in better than
1:24.8	expected for the fourth quarter. Verizon shares however fell as it added fewer
	...

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