Despite the geopolitical uncertainty, the U.S stock market has been resilient, finding a bid 3 days in a row. And it makes sense right? Everyone is getting out of Russia, China is in a bear market, and does anyone really want to be in Europe now with the risk involved? 

Even the worst stocks on the U.S market are lining up nicely, and AMC Reddit Apes can probably start getting excited again.

Now don’t get me wrong, I hate these stocks. I believe these are dog meat companies that are significantly overvalued and should not be trading up here. But I don’t let my biases stand in the way of making good trading decisions, and right now, these charts are holding up well. This is the type of consolidation pattern that I’ve seen continue higher many a time, so I definitely wouldn’t want to be short these stocks in the short term.

GME

GME continues to hold here. The lines on the Keltner channels are flat, and I think they are about to start rising. The stock is now trading above the midpoint of the Keltner, and I can’t say that this is not a good trading setup. I might hate the company, and I don’t care. I’m not in this game to fall in love with companies! I’m in this game to fall in love with patterns that give me an edge! GME right now has all the criteria I look for in a good long setup! For this reason, I’m going to stick with my position!

AMC 

Exactly the same type of pattern! It’s a dog meat stock, rising above the mid-point Keltner, it looks perfect. And you know what? Dog meat stocks have lots and lots of short-sellers baked in there, and they’re trapped! This can give some extra juice for a squeeze higher. I’m not in AMC yet because I have enough size in GME, and they usually trade together.

DWAC

Trump’s DWAC, the Truth network, just launched recently. I tried to sign up, and I’m still on the waiting list, so I haven’t had a chance to try it out yet. The launch finally happened. You might hate Trump, you might hate the company. It doesn’t matter! This is the kind of setup that I’m looking for. You can say whatever you want about the company, but this stock has been nothing but bullish for the last month and a half, I’ve been calling it the whole time, and I’m going to stick with it! 

DWAC had a chance to die on the sell the news event, and it did have a pullback. However, it has held and continues to grind higher. Stubborn shorts could be in for a world of pain in this one, especially on a break of $100. We should all know by now what Trump pumps can be like!