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I finally published Chapter 1 of my 365 Days of Daily Minimum story.
Why did I start?
It became a little longer and more personal than I planned.
I’m going to tell the rest chapter by chapter.
Feedback is very welcome, including critical.
Not perfect. Just done. 💜🐢
The Steady Turtle 💜🐢 retweeted
On this day in $GME history 5 years ago 10/28/2020: $GME high $3.26 (post split)
Kitty kicks off his 37th stream wearing a neck brace. Leveling up from the band-aids after another red week. GME slid 6% to $11.82 after dropping 10% earlier, but he laughs it off. Especially with the markets selling off. For him, this is still the same $11–$16 range he’s been watching. Long term mindset, no panic, no averaging down. Just an opportunity to collect data & learn.
He pulls up Sony’s fresh earnings. Both physical & digital gaming revenue were down, which he calls noteworthy but understandable due to Covid. The chat blames the election for the market-wide sell off, and Kitty agrees that played a role. Markets hate uncertainty. He’s curious to hear how others are feeling on this red day and what their investment style is like since his long term approach is steady based on fundamentals. He figures a lot of short term traders were only in for the squeeze, didn’t get it & sold out. Helping fuel the sell side.
Still, this is week three above $11. A good sign of building support. When would he reassess? Only if there’s a big volume down day that moves against the market with new bearish fundamentals. That’s what he watches for. He also stresses the value of writing a “pre-mortem” before investing. Ask yourself if things go wrong, why does it?
Super Stassi says Pfizer’s Phase 3 data is coming. I've forgotten about these long awaited updates on vaccine progress. Then Kitty gets back to valuation mechanics saying ultimately, the market never cares about your valuation model. That’s why he doesn’t spend a lot of time assigning value before moving on. He never uses price-to-sales. Occasionally, the highest he'll go up, is EBITA with a low multiplier for heavily leveraged names. He joked he would get kicked off his stream for admitting that, but if it’s super leveraged and they’re not making money earnings or profitability-wise, he has to use something. Then Kitty draws a line in the sand. If GME doesn’t show YoY growth by the end of the console cycle, he admits his thesis would be wrong. We then have more talk about ad revenue and how valuable their data is for the gaming segment with over 20M Pro members. Then someone notes today is the 12 year anniversary of the Volkswagen squeeze. That’s something.
Before wrapping, the chat wants to know if GME will end the week above $12.75, so he shakes the 8 ball. "It is certain". I dunno. It's looking like the ball might be wrong on that one.
Here's hoping the 10/30 Halloween Friday stream is a party.
Day 103 of 148 – tracking daily history 5 yrs ago until I reach 12/12/2020 and complete the daily saga gap
This week's market selloff is serving as a wonderful opportunity to test the strength of $GME's recent upward momentum. So far the stock is holding up quite well. Here's what I see: stockcharts.com/public/17782…
The Steady Turtle 💜🐢 retweeted
$GME Rewind 10/28/20
On this day in $GME history 5 years ago 10/28/2020: $GME high $3.26 (post split)
Kitty kicks off his 37th stream wearing a neck brace. Leveling up from the band-aids after another red week. GME slid 6% to $11.82 after dropping 10% earlier, but he laughs it off. Especially with the markets selling off. For him, this is still the same $11–$16 range he’s been watching. Long term mindset, no panic, no averaging down. Just an opportunity to collect data & learn.
He pulls up Sony’s fresh earnings. Both physical & digital gaming revenue were down, which he calls noteworthy but understandable due to Covid. The chat blames the election for the market-wide sell off, and Kitty agrees that played a role. Markets hate uncertainty. He’s curious to hear how others are feeling on this red day and what their investment style is like since his long term approach is steady based on fundamentals. He figures a lot of short term traders were only in for the squeeze, didn’t get it & sold out. Helping fuel the sell side.
Still, this is week three above $11. A good sign of building support. When would he reassess? Only if there’s a big volume down day that moves against the market with new bearish fundamentals. That’s what he watches for. He also stresses the value of writing a “pre-mortem” before investing. Ask yourself if things go wrong, why does it?
Super Stassi says Pfizer’s Phase 3 data is coming. I've forgotten about these long awaited updates on vaccine progress. Then Kitty gets back to valuation mechanics saying ultimately, the market never cares about your valuation model. That’s why he doesn’t spend a lot of time assigning value before moving on. He never uses price-to-sales. Occasionally, the highest he'll go up, is EBITA with a low multiplier for heavily leveraged names. He joked he would get kicked off his stream for admitting that, but if it’s super leveraged and they’re not making money earnings or profitability-wise, he has to use something. Then Kitty draws a line in the sand. If GME doesn’t show YoY growth by the end of the console cycle, he admits his thesis would be wrong. We then have more talk about ad revenue and how valuable their data is for the gaming segment with over 20M Pro members. Then someone notes today is the 12 year anniversary of the Volkswagen squeeze. That’s something.
Before wrapping, the chat wants to know if GME will end the week above $12.75, so he shakes the 8 ball. "It is certain". I dunno. It's looking like the ball might be wrong on that one.
Here's hoping the 10/30 Halloween Friday stream is a party.
Day 103 of 148 – tracking daily history 5 yrs ago until I reach 12/12/2020 and complete the daily saga gap
The Steady Turtle 💜🐢 retweeted
Been making updates to the site. Look around to find the new additions.
Here are a couple additions.
Live updates during the day.
Haven't actually tested it so tomorrow is the guinea pig 🫣
Good morning everyone 👋!
28🫷. 💪$28🧲.
In case you missed @TheMagnifishit's last stream about #AI and #Finance, I strongly recommend to watch it.
I am really excited for your next project 🫶.
Habe an awesome day 👋!
#TeamGMEWorkout #ExerciseMagnet $GME #GME #GameStop 💜🐢
AI allows retail investors to build a connected process that finds opportunities, challenges the thesis, tracks what changed & learns from every decision.
That's a massive edge. And in investing, even the smallest edge can make a huge difference.
AI Investor | YouTube.com/@Magnifishit
The Steady Turtle 💜🐢 retweeted
Worked hard on Slabbie all morning. Off to another card show to see my vendors!
Sent them some updates before heading out. Got some appreciation which felt great.
Tag someone you appreciate and tell them that they've been doing awesome work.
@slabbieapp
The Steady Turtle 💜🐢 retweeted
If I was short $GME right now, I think I'd be pretty pleased with recent gains.
Hard rejection at the $28.30 top and down ~16% in under 2 weeks. The stock is now trading back at Max Pain levels, ~20% below strategic value, ~12% below the CEO's 10/13 ~$22M purchase, ~3% below the CEO's 10/2 ~$17M purchase and trading very near to the CEO's 9/29 ~$10.5M purchase.
The stock is safely trading ~25% below the $32 warrant strike that expires this Friday and it's hard to see further downside opportunity. The CEO's 9/21 ~$26M purchase was ~3% lower and the CEO also had a 9/10 ~$20M purchase that is ~14% lower. So the stock is trading below ~$39M worth of purchases, nearly at ~$10.5M worth and sitting above ~$46M worth of purchases.
There could be hope $GME needs to increase its offer for $EBAY which should mean more dilution to raise more cash. But they currently would need to borrow ~$19B, can only borrow up to $20B and that hinges on an investment grade rating. Raising the offer and increasing dilution makes an investment grade rating further out of reach, and that rating is already a long shot as it stands. This path would require outside funds or a different offer structure. Too difficult to assign probabilities.
They could do another debt exchange, but they only have ~$1B of wiggle room with the current eBay offer. That also takes away free 0% interest debt and converts it to future debt for eBay that will cost to borrow. It would also mean near term dilution which lowers the value and further decreases odds of the investment grade rating. Hard to see incentive for that playing out.
Well shoot. If I'm short $GME, I guess I don't see much more downside opportunity. I mean, even sentiment seems to be at an all time low. I guess it's time to take the W on this trade 🤷♂️
The Steady Turtle 💜🐢 retweeted
On this day in $GME history 5 years ago 10/27/2020: $GME high $3.43 (post split)
With GME averaging ~24M daily volume since the MSFT partnership announcement through last Friday, the less than 20% drop this week on no news and ~10M volume, called for a reminder that it's not time to panic.
Day 102 of 148 – tracking daily history 5 yrs ago until I reach 12/12/2020 and complete the daily saga gap
to $GME longs panicking over a <20% drop from a 21mo high, on low volume and no news, to a price it was at 8 days ago
The Steady Turtle 💜🐢 retweeted
$GME Rewind 10/27/20
On this day in $GME history 5 years ago 10/27/2020: $GME high $3.43 (post split)
With GME averaging ~24M daily volume since the MSFT partnership announcement through last Friday, the less than 20% drop this week on no news and ~10M volume, called for a reminder that it's not time to panic.
Day 102 of 148 – tracking daily history 5 yrs ago until I reach 12/12/2020 and complete the daily saga gap
Good morning everyone 👋!
25🫷. 💪$25🧲.
Today something to read. Especially when you are a #EBAY investor. $EBAY
Thanks for you great work, Liz 🫶❤️.
#TeamGMEWorkout #ExerciseMagnet $GME #GME #GameStop 💜🐢
The Steady Turtle 💜🐢 retweeted
When I first researched and invested in $EBAY, I found it odd that their stockholders’ equity and margins were declining YoY while their GMV was consistently increasing. One thing that could explain this is bad management and over spending, which was certainly present. But when I started looking into their GMV and how they report it, I wasn’t shocked to find a bunch of accounting tricks to make it seem like GMV was growing when in reality, even if it was growing a little bit, it was being made to look like it was growing a lot through quite a few of these accounting tricks. Liz was a big resource through this period of research, and she always said she could write an entire piece on their GMV shenanigans. And she finally did! Check it out.
The Steady Turtle 💜🐢 retweeted
$GME Rewind 10/26/20
On this day in $GME history 5 years ago 10/26/2020: $GME high $3.86 (post split)
Kitty opened his 36th stream with band-aids all over his face, laughing through the pain after GME closed down 10%. GME hasn’t had a big red day during this uptrend yet and as a long term investor, these moves don’t even register for him. Movement within $11-$16 was all the same to him & the whole market was red anyway.
He pointed out that overbought signals don’t scare him. He sees them as bullish for long-term holders. Maybe short-term traders should care, but he doesn’t. More than 50 people joined the stream early on. A solid turnout considering the drop.
Then Uber dropped the new short interest data with 70.34M shares short, up from 68.63M at the end of September. Kitty was stunned. Shorts were still piling in. The short side was treating GameStop as a company with zero paths forward. That’s an absurd bet when nothing is certain in the market. No transformation. No optionality. Nothing. Why are shorts thinking this certainty only applies to GME? Especially as transformation was unfolding with partnerships in place that provided revenue streams in digital?
GME was on the short sale restriction list, meaning it could only be shorted on upticks, but Kitty brushed that off as noise. He was more interested in the psychology. The chat remained overwhelmingly bullish despite the red day. A good sign with the 75 people watching & 30 likes midstream. People weren't running for the exits. GME is attracting more than just day traders.
He cracked up at a new Bank of America article calling the Xbox & PlayStation launches headwinds for GameStop, claiming they’d accelerate digitization & hurt sales. If that’s the bear take, it should instill more confidence than ever. That kind of analysis revealed how broken Wall Street’s models were. Even more bullish if this is the same logic guiding shorts.
A viewer brought up “deception” and “manipulation” in trading. Kitty cautioned against getting lost in those theories. He's not naive & doesn't believe it doesn't exist, but he doesn't know enough to claim it and that stuff gets thrown around a lot without real understanding.
He & the chat spent time discussing share recalls, explaining how they could expose shorts in the event of a buyback or buyout. Then he reviewed an IGN article about GameStop’s new concept stores. GameStop 2.0 (community spaces), GameStop Social (for tournaments and co-op), GameStop Retro (classic libraries) & GameStop Pop (collectibles). It was a glimpse at what a modernized GameStop might look like.
As he wrapped up, Kitty reminded chat that the U.S. election was two weeks away and signed off early. The room’s consensus? Probably another red day tomorrow, with most taking the under on $14.
As always during these quiet periods of no news, nothing to do but watch the price action. Until next stream.
Day 101 of 148 – tracking daily history 5 yrs ago until I reach 12/12/2020 and complete the daily saga gap
Good morning everyone 👋!
16🫷. 💪$263🧲.
It's already Monday. This means, another live stream of our beloved Podcast. Tune in 🎧!
I'll try to make it 💪!
Have an awesome day ❤️!
#TeamGMEWorkout #ExerciseMagnet $GME #GME #GameStop 💜🐢
All eyes are on $GMEWS
RC put $100 million into $GME and we tapped $28, but the buying came to a sudden end and now we’re heading into the blackout period
Is there gas left in the tank after a seven-week, 50% run, or does the pullback continue into warrant expiration?
And with Cat Day on the horizon, does Kitty have anything to say?
@ButtFarm69 joins me on @EchoChamber741 to talk warrants, RC’s buys, and probably some tinfoil
LFG $GME
Send it @TheRoaringKitty
youtube.com/live/Sdrw1-Xyz_k…
Good morning everyone 👋!
23🫷. 💪$270🧲.
Congratulations 🎉!
Keep going my friend.
Much love to you from Germany ❤️❤️❤️❤️
Have an awesome day 🫶!
#TeamGMEWorkout #ExerciseMagnet $GME #GME #GameStop 💜🐢
The Steady Turtle 💜🐢 retweeted
Good morning 🌌🤠! Awesome we got a 222s additon. Did you hear that @snoopston808 😲? You lifted our weekend magnet into new heights. We're currently at 💪$247🧲. Have an awesome Sunday, my friends ❤️!
#TeamGMEWorkout #ExerciseMagnet $GME #GME #GameStop 💜🐢
