Don't Be Distracted by Meme-Stock Mania

May 14, 2024

Don’t Be Distracted by Meme-Stock Mania… Again
by Gianni Di Poce

Everything old is new again. GameStop (GME) and AMC Theaters (AMC) - the two quintessential tickers from the 2021 meme-stock craze - are soaring again on the “strength” of… Internet buzz.

Nevermind the fact that neither of these stocks are anywhere near their 2021 highs - this is a distraction, pure and simple.

Know what isn’t a distraction? All of the inflation data hitting the street this week. Inflation is very much a force to be reckoned with. 

Bonds have more or less held up today after the PPI releases, but tomorrow, when the latest CPI readout arrives, could be a different story.

With all of that said, I’m seeing some strong setups in this market and none of them have anything to do with meme stocks. 

TheoTrade Daily Chatroom Schedule for Wednesday, May 15, 2024
9:20 AM to 10:30 AM: I’ll be getting us ready for the cash open
10:30 AM to 11:30 AM: Professor Jeff Bierman shows you… The Way
11:30 AM to 12:30 PM: Blake Young targets earnings and macro moves
12:30 PM to 1:15 PM: Gianni Di Poce has plans for inflation data
1:15 PM to 2:00 PM: Brandon Chapman tracks unusual options activity
2:00 PM to 3:00 PM: Tony Rago shoots for $620 profits in NASDAQ futures
3:00 PM to 4:00 PM: Corey Rosenbloom scans for the best range and trend plays

Gianni Di Poce Is Tracking Global Capital Flows
Money’s like matter - it’s never really created or destroyed, it just… moves. Right now, there’s a brewing currency crisis getting underway in Japan. That could totally alter global money flow. 

Click here to find out what to do about it, and you’ll also be subscribed FREE to Gianni’s Sector Leader Bullseye weekly updates.

Tony Rago’s Got More Setups to Share with You
Tony’s “Golden Setups” presentation broke records for us; more than 1,100 people attended… and learned how to squeeze the tech sector for $620 in daily profit potential. This Thursday, May 16, at 1 PM Eastern, Tony’s going to show everyone even more ways to profit on his favorite asset of all time. Click here for your free spot - if it’s anything like last week, space will go quickly. 

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade